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Vermont, New Hampshire, Maine best spot for retirement

  1. #1
    Lifer SteveM's Avatar
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    Vermont, New Hampshire, Maine best spot for retirement

    Been noodling the log cabin on at least 10 acre idea for some time now. Iím not looking for the lowest cost to buy but I am looking for the lowest cost of ownership, i.e. tax burden and other costs.

    Iím looking to be at least a little it away from the resort areas. Itís a true retreat, not a summer place or a ski house.

    Thoughts?

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    Development Rider scottieducati's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Town by town will have wide variance. Lower overall taxes in New Hampshire Iíd reckon


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    Lifer Garandman's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    The big questions are what myour budget is and how far you are willing to drive.

    In NH if you have at least 10 acres of undeveloped land, you can put it into Current Use which greatly reduces the taxes.

    Real Estate taxes in NH are astonishing compared to most places in MA. They do vary by town.

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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Vermont did/does have weird property taxes to screw second homes (skiers)

    I had a situation once were we had a cabin 4 1/2 hours away and another catskills 2 1/2 hours the 4 hour trip made weekend BS

    NH gets ALL of its money from property taxes, I am not sure about Maine

    SOunds stupid but for cost of living plus Pennsylvania would be cheapest zip over 84 your there

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    Posting Freak Gixxer's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Berlin, NH. Get into dirty toys if you aren’t already and roam Jericho State Park.

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    Lifer SteveM's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    House budget would probably be about 350. Would like to be 3 hours from Boston.

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    Posting Freak Gixxer's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    I feel like 350 will pretty much get you whatever you want north of Goffstown. Especially if roads less traveled are your thing

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    Lifer SteveM's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Yeah, the entry price isn’t the issue.

    This will be a place we’ll have as our earned income decreases as we retire. Are there significant differences in taxes the we should consider?

    For instance, NH has no sales tax, but presumable highe property taxes. Sales tax is’nt a big deal, becasue it can be avoided/minimized based on what and where we buy stuff. Property taxes are forever.

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    Lifer Not Sure's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Remember you get back a third in tax returns with property taxes, so the guy paying $6K a year vs. the one paying $3K isn't paying $3K in cash more per year he is paying $2K more. Some things are worth paying for. A few hundred dollars more per month for me is well worth it to live in a town that is well kept, has a few good places to eat / drink, a grocery store, highway access nearby, hospital or other meaningful health services, etc. Retirement is a long time hopefully, and it will get old quick IMO if you're a half hour or more to any of these things. If you're really a person who doesn't care about any of that for 30+ years then go for it. Oh yeah, NH FTW.

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    Re: Vermont, New Hampshire, Maine best spot for retirement


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    Kosher Assassin Stoneman's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Ah yes, NH's property taxes. If that's a major concern, stay away from water and/or "views".

    Quick example: we live on a small private lake, about 1/2 acre on a dirt road, house is an old camp converted and added onto - about 2500 sq. ft. We're currently at $6500/year in property taxes. For comparison, friends with a similarly sized & aged house on 5+ acres (non waterfront, non "view") only pay $4500/year. Also for comparison, we have two lots in a neighboring town that total about 21 acres and are undeveloped but buildable with variance. The lot that we have in current use/recreational use (10+ acres) is $45/year (yes, FOURTY FIVE), while the other 10+ acre lot is $450/year (recreational use only).

    It was mandated by the state of NH that waterfront property in our town be valued 17% higher than non-waterfront property. While property taxes vary wildly from town to town, the state also sets valuation rates, what's considered a "view", etc.

    That all being said, if the area didn't get 6-8 extra weeks of winter, we'd shoot to move north of the notches.

    Just another angle to factor in, I guess.

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    Development Rider scottieducati's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    With a budget of $350,000, you can easily find a place like what youíre describing for south of $275k... put some extra in a home account for taxes and maintenance and bingo bango


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    Re: Vermont, New Hampshire, Maine best spot for retirement

    If you're considering retirement property to live full time, you may want to consider access to and quality of medical care in the area you're considering. For me that would probably mean within a 30 minute drive of Dartmouth-Hitchcock, as it's far and away the best hospital in the region.

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    Lifer Garandman's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by SteveM View Post
    Yeah, the entry price isn’t the issue.

    This will be a place we’ll have as our earned income decreases as we retire. Are there significant differences in taxes the we should consider?

    For instance, NH has no sales tax, but presumable highe property taxes. Sales tax is’nt a big deal, becasue it can be avoided/minimized based on what and where we buy stuff. Property taxes are forever.
    Retired, you may also want to look at health care resources.

    Also depends if you just want to sit and look at trees. College and university towns tend to have a lot more going on, both sports and cultural events.

    We made sure we abutted public land / state park. It’s nice to be able to walk/ride/snowmobile directly onto a trail network.

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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Is tax on your retirement income a concern? I don't have any expertise on this but in the 10 minutes I spent googling the topic I'd recommend that if your retirement income is taxable you look at how each state applies it. Example, as NH is considered "income tax free" that only applies to W2 wage earnings, other income is still taxable.

    If not, I would approach it from the standpoint of which amenities are important to have close by. Within 3 hours of Boston is pretty easy to hit. As others have mentioned, access to quality health care. Landmarks like state forest, lakes, awesome riding and so on. Drop pins happy points and search homes by within X distance of.

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    Angry Gumball RandyO's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by Stoneman View Post
    Ah yes, NH's property taxes. If that's a major concern, stay away from water and/or "views".
    .
    property in a town with lots of lakes & views will result in lowest taxes so long as you don't have a view or water access. Town of Wakefield for instance cheap taxes, but also crappy schools, but for retiring that shouldn't be a concern other than future resale

    Maine generally has low taxes, in retirement mode income tax would be minimal and stay close to NH border for shopping with no sales tax

    Vermont ? I grew up there, most of my family lives there, but I ain't going back next month when I retire, except to visit. they have sales and income tax, and property taxes are just as variable from town to town as NH

    NH will reward you with the most Libertarian politics, less government meddling. All 3 states are constitutional carry

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    Lifer SteveM's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by RandyO View Post
    property in a town with lots of lakes & views will result in lowest taxes so long as you don't have a view or water access. Town of Wakefield for instance cheap taxes, but also crappy schools, but for retiring that shouldn't be a concern other than future resale

    Maine generally has low taxes, in retirement mode income tax would be minimal and stay close to NH border for shopping with no sales tax

    Vermont ? I grew up there, most of my family lives there, but I ain't going back next month when I retire, except to visit. they have sales and income tax, and property taxes are just as variable from town to town as NH

    NH will reward you with the most Libertarian politics, less government meddling. All 3 states are constitutional carry
    So I would be required to carry a copy of the constitution with me at all times?

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    Lifer TIMMYDUCK's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by SteveM View Post
    So I would be required to carry a copy of the constitution with me at all times?
    No , not the actual writing.

    While our nation’s overall concealed carry landscape is a patchwork of frustrating laws many Americans struggle to navigate, it is heartening to know that 12 states makes things easy by allowing law-abiding residents to carry guns without any bureaucratic interference.
    This means 12 states recognize the Second Amendment as your concealed carry permit. The states are Alaska, Arizona, Idaho, Kansas, Maine, Mississippi, Missouri, New Hampshire, North Dakota, Vermont, West Virginia, and Wyoming.

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    Senior Member MUZ720's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    So I would be required to carry a copy of the constitution with me at all times?
    Yes on your hip in plain sight.....
    Can attest to living in a town with water, views . Just having a peek at it will add a G note. But if you live off water you let the rich guys pay and yours are more normal..

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    Last edited by MUZ720; 10-10-18 at 05:47 PM.

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    Lifer SteveM's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by TIMMYDUCK View Post
    No , not the actual writing.

    While our nation’s overall concealed carry landscape is a patchwork of frustrating laws many Americans struggle to navigate, it is heartening to know that 12 states makes things easy by allowing law-abiding residents to carry guns without any bureaucratic interference.
    This means 12 states recognize the Second Amendment as your concealed carry permit. The states are Alaska, Arizona, Idaho, Kansas, Maine, Mississippi, Missouri, New Hampshire, North Dakota, Vermont, West Virginia, and Wyoming.
    Sorry, I do know what this means, I was just having fun. And I do believe in it

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  21. #21
    Angry Gumball RandyO's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by Stromper View Post

    NH gets ALL of its money from property taxes
    could not be further from the truth, towns in NH get their money from property tax, the state gets it's money from user fees, booze, gambling, business taxes, and from visitors thru room and meals tax.

    property tax varies greatly from town to town. I have seen properties similar to mine taxed anywhere from $1500/yr to $7500/yr in other towns, I'm right in the middle @ $3200

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  22. #22
    BMW track whore e30addict's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Registration fees there are pretty much reg and excise tax all rolled into one as well.

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  23. #23
    Lifer Garandman's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    We have a stand of trees next to our place. We won’t cut them down because it would expose a view of Mt Sunapee. Not her how they define “view” for tax purposes.

    Quote Originally Posted by SteveM View Post
    Yeah, the entry price isn’t the issue.

    This will be a place we’ll have as our earned income decreases as we retire. Are there significant differences in taxes the we should consider?

    For instance, NH has no sales tax, but presumable highe property taxes. Sales tax is’nt a big deal, becasue it can be avoided/minimized based on what and where we buy stuff. Property taxes are forever.
    NH doesn’t have a state income tax, but they do tax dividends and interest income.

    Interest & Dividend Tax FAQ | NH Department of Revenue Administration

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    Last edited by Garandman; 10-11-18 at 07:29 AM.
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  24. #24
    Angry Gumball RandyO's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Quote Originally Posted by Garandman View Post
    We have a stand of trees next to our place. We won’t cut them down because it would expose a view of Mt Sunapee. Not her how they define “view” for tax purposes.

    NH doesn’t have a state income tax, but they do tax dividends and interest income.

    Interest & Dividend Tax FAQ | NH Department of Revenue Administration
    actually, everyone's income gets taxed. disguised as the BET (business enterprise tax) cause it's based on payroll, the employer pays it however

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  25. #25
    Lifer Falko's Avatar
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    Re: Vermont, New Hampshire, Maine best spot for retirement

    Of my group of friends, the ones in NH do not seem to really pay more income tax than those in MA. I think that used to be the case and still is for "vacation" style properties, but general living NH doesn't appear to be outrageous anymore.

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