Industries like paper production, shipbuilding, agriculture, and fishing are still prominent, but they’ve been scaled back to make way for areas such as tourism, retail, and tech. But,those who love outdoor winter sports and just plain being active are the ones drawn to Maine. If you’re looking to buy a property here, you can find some great bargains; the median home value is just $160k. Check Out These 8 Thrifty Options, How Many Boxes Do I Need To Move? Maine is a popular retirement destination for many Americans approaching their Golden Years, coming in second only to Florida for housing the most residents age 55 and over. That said, given the rise in home prices, buying a home in Maine may make for a good investment in your future. If you really want to support Maine, buy locally made Maine things online, lobsters can be overnighted, and keep posting your favorite photos and memories of Maine. The average cost of a home in Bar Harbour is $376k, with prices set to rise by an estimated 4.7% in the coming year. Pros and Cons of Living in Georgia The Pros or Advantages of Moving to Georgia. The locals are also known for being a friendly and welcoming bunch and new residents say they fund it easy to make friends here. Money that you can use to pay for your big move. Once reading through the pros and cons listed below, you will see for yourself that Arizona offers more of the pros than they offer cons… in Maine, which factors in the cost of a hospital bed and doctor and dentist visit is only .1% higher than the United States average. They also have higher than average property tax rates. That being said, there are some great restaurants in the neighborhood, as well as 2 movie theatres, and some decent shopping opportunities. Although the good news is that Maine does not tax Social Security Income.Â, While, for the most part, the cost of living is quite low in Maine, the cost of groceries is about, higher than the United States average. There’s also the famous Hollywood Casino Hotel and Raceway here, which draws in crowds from all around the state for a Vegas-style experience, in a much more peaceful setting than the Nevada version. Sure, states like Florida, Arizona and California have lots of retirement communities. Considering this is Maine’s biggest city, it has an incredibly low crime rate, which is pretty typical across the whole of the state. Maine's summer is made for retired people. Sales tax in Maine is a flat 5.5%, and property taxes are around 10% above the national average. There are a lot of things to research before moving to this part of the country. Of course, the price you pay depends on the location you choose. The current average home value across the state of Maine is around $245k, just a little more than the national average of $200k. There will be a few hot and humid days, but not 6 months of it as there is down South. There’s also great Amtrak links connecting residents to Boston and various other major cities around the country, and a trip into Canada is made super easy by the Nova Star car ferry which takes passengers on a scenic trip from Portland to Nova Scotia every day during the warmer season. Discuss the pros and cons of each location. There are only two states that exempt nearly all retirement … Lower population density does come with its perks though. Find One In Your Area. This state is still covered with plenty of forests and recreational space.  There are an incredible 3500 miles of rugged Atlantic coastline to explore, stretching from the New Hampshire border to the Canadian province of New Brunswick, and plenty of opportunities for work, business and play. Maine’s downsides, however, can be a bit taxing. Maine also produces a whopping 99% of all the blueberries in the US. 25 Pros and Cons of living in Maine. Despite property prices being above the national average, when we compare the prices here to the rest of New England, you get a lot more bang for your buck in Maine. Malaysia is a top contender with American and European retirees. It starts to get expensive when you head to the grocery store though; Maine has the 6th highest grocery prices in the country. With 1.6 million passengers traveling through the airport every year, you’re well connected to the rest of the country which means you’ll get plenty of visitors. Bar Habor is another popular town that always ranks highly in Main’s best places to live. The honeybee is the official state insect of Maine. 3 beautiful houses were sold out or taken off the market after a formal bid was placed and it was revealed we were from the South. Please check your email for our the secrets. There are 3 income tax brackets in the state of Maine. Despite needing to heat your home for much of the year, the average resident in Maine spends around $87 a month on energy, that’s the lowest out of any of the New England states. Your email address will not be published. Typically, the worst time to buy a home in Maine is towards the end of summer when prices and demand is high. Maine is ranked as the safest state in the United States, with it having one of the lowest violent crime and property crime rates, making the state of Maine an amazing place to live and an easy choice when it comes to deciding where you want to spend the rest of your life.Â, While the pros of retiring in the state of Maine outweigh the cons, there are still some things that you should take into consideration before you fully commit to living the rest of your life in The Pine Tree State.Â, Keep reading to get a full understanding of what it really means to live in Maine.Â, One of the downsides to living in Maine is the fact that the income tax and retirement income tax rate can be as high as 7.15%. Maine is the cheapest state in New England; from housing to healthcare, you’ll be surprised at how far your money … There’s also a great public school system, so it’s a popular place to raise a family. The rugged Maine coast is a day trip, as are the rolling hills of Vermont. A positive feedback loop of isolation. With a population of just 1.3 million people, and an estimated 24 billion trees, it’s the ideal place to live for those who’ve had it with the rat race and are ready for a little breathing room. They also have higher than average property tax rates. Just 9 miles from downtown Portland is the affluent coastal town of Cape Elizabeth. So is making the move right for you and your family? Let’s take a look at some of the best activities and attractions from around the Pine Tree State. Like many cities of this size, there’s a good balance between homeowners and renters. Hey there, my name is Ruth, I'm in my late fifties. Maine is the only state in the country that shares a border with just one other state. The area itself is pretty sleepy, but there are enough good restaurants and local pubs to satisfy the residents. My life was turned upside down a few years ago as I experienced a burn-out. One of the downsides to living in Maine … Health care is also big business in Maine, with roughly 8% of the workforce employed in some kind of health or social assistance role. In the past few decades, things have shifted dramatically in The Pine Tree State. The good news is that utility bills here are surprisingly low. Now that we’ve taken a look at what Maine has to offer, let’s recap some of the pros and cons of relocating to the Pine Tree State. The area was designed to offer an ideal balance of residential and commercial properties while emphasizing and … The average cost of rent is also cheaper in Maine than other places, with the monthly cost of a one-bedroom or two-bedroom being $801 or $1006, respectively—making both buying and renting an affordable opportunity to consider.Â, When you are looking to settle down, having plenty of people to make friends with is probably one of the things at the top of your list.Â, Well, the good thing about Maine is that it has a much higher aging population compared to the number of youth in the state, providing you with plenty of company to spend your time with.Â, Maine consistently ranks as one of the best states when it comes to the healthcare provided, as it has some of the best healthcare providers and hospitals available.Â. What are the pros and cons? If you like to take good care of yourself, you’ll be in excellent company; people in Maine lead a pretty healthy lifestyle. The people up there will say that they look at people from “out of the county” with a closer eye. We Negotiated Discounts With Great Agents. It’s a great place to live if you like the outdoors; there are tons of hiking trails and cycle paths within easy access of downtown. 15 Reasons To Drop Everything And Move To This One Maine City. It’s a really popular place for families, due to its super low crime rate; in fact, recent police statistics showed the number of violent crimes committed here last year was zero. Since it’s on nature’s doorstep, it’s residents tend to be quite outdoorsy, spending a lot of their free time hiking, cycling, and camping. As a result, there is also a lack of world cuisine available due to this lack of ethnic diversity.Â, There are plenty of amazing reasons to retire in Maine, the Pine Tree State, with one of the most compelling being the low cost of living and gorgeous scenery that only gets even more stunning during the fall months.Â, Additionally, this state has plenty for you to do with many museums to explore and an increasing senior community providing you with the opportunity to make plenty of friends.Â, However, the state does have a fairly high income tax rate, high grocery prices compared to other states and has a lack of diversity. Give you key contact information you will need to help with your quest to find the best state to retire in. For example, data from RedFin Data Center reveals that those homes sold in June commanded a $15,167 premium as compared to the average sales price throughout the year. The people tend to be pretty liberal and progressive when it comes to social issues too; Maine has a thriving LGBT scene, especially in Portland. The place has a suburban feel to it, with a lot of pretty tree-lined streets and large family homes, but there’s also more opportunity to rent apartments and condos here, compared to its sister town of Cape of Elizabeth. Another notable aspect that puts Maine on the map, is their notoriety for some of the best seafood in the world. Unlike Portland, the majority of people here are homeowners and household incomes tend to be high. There are numerous areas dedicated to all kinds of beautiful flowers and plants, as well as a sculpture garden featuring work from local artists. To read more about why this gorgeous state has become a place retirees choose to spend the rest of their lives, keep reading. Kennebunk. Save my name and email in this browser for the next time I comment. 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