I live and work in New Jersey. I currently rent. As you may know, real estate and property taxes are very high in New Jersey. When I am ready to retire early, I have been thinking about buying a residence in Pennsylvania or Delaware, where the cost of living is I believe, on average, lower. My relatives and friends will still probably be in New Jersey, so I would like to stay within driving distance to NJ. I have some questions for you:
1) Do you think the average cost of living would be lower in Pennsylvania and/or Delaware?
2) Do you think I could find a modest single family home or a townhouse in Pennsylvania or Delaware in the $200,000 to $250,000 range?
3) I have been thinking of the Rehoboth Beach area in Delaware, the Poconos in Pennsylvania, or a suburb of Philadelphia in Pennsylvania. Do you think these are good early retirement location choices? If not, can you recommend other cities in Delaware or Pennsylvania that are a reasonable commute (about 3 hours one way) to NJ and that meet the requirements that I have identified above?
Thank you for your advice.
1) Do you think the average cost of living would be lower in Pennsylvania and/or Delaware?
2) Do you think I could find a modest single family home or a townhouse in Pennsylvania or Delaware in the $200,000 to $250,000 range?
3) I have been thinking of the Rehoboth Beach area in Delaware, the Poconos in Pennsylvania, or a suburb of Philadelphia in Pennsylvania. Do you think these are good early retirement location choices? If not, can you recommend other cities in Delaware or Pennsylvania that are a reasonable commute (about 3 hours one way) to NJ and that meet the requirements that I have identified above?
Thank you for your advice.