Retirement is a time for relaxation, but many seniors worry about the cost because they have a limited budget. While California is notorious for having an excessive cost of living, Chula Vista is a little less costly than places like San Francisco, San Diego, and Los Angeles. The city also offers a property tax exemption for qualified seniors and is one of the best places to retire in the San Diego County area. If you’re interested in retiring in Chula Vista, here is a look at some of the costs you can expect to encounter.
Depending on your needs and wants, where you live can change. Perhaps you no longer want to stay at home and maintain its upkeep. Senior living communities that offer an assisted living option might be your solution. In San Diego County, these can cost an average of $48,000 per year. That price includes things like your rent and utilities, but it can also include your meals, transportation, and housekeeping costs.
Seniors that want their own house might face some hefty price tags. The average house costs $473,000 in Chula Vista, and the average price of a home in the US is around $185,800. Also, take into consideration that house appreciation has gone up over 8% in the area. Chula Vista consistently makes the top lists for best places to live and retire in the San Diego area. Real estate site Movoto listed it as one of the top 20 best suburbs to retire in and one of the top 10 most affordable places to live in the area. Niche also named it as one of the best suburbs to retire in and San Diego Magazine added it to its list too.
Renting is always an option with average rates at $1,848. You can find a one-bedroom apartment for $1,527 or a two-bedroom place for $1,884.
Health care costs in San Diego County are surprisingly on the lower side of things. The national average for Medicare spending is around $9,500, and in San Diego County it’s $9,720. This cost is also lower than the state average of $10,375.
It’s still smart to save a good chunk of your budget for health care costs. Yes, Medicare will cover many services, but you still might need to pay your deductible or copays. You also never know when an emergency might happen. Also, some Medicare providers don’t use fee-for-service rates which means you need to pay the cost of the coverage and the charge.
Seniors that still drive and have a car need to factor the cost of gas and insurance into their budget. Gas prices might be dropping, but insurance seems to be getting higher. For the Chula Vista area, the average insurance price is $1,221, but you could pay as much as $1,649 or as little as $772. Look around for the best quote and ask about things like safe driver discounts. If you don’t drive often, consider using a company that charges per mile you drive.
You can also use public transportation to get around. The Metropolitan Transit System has a reduced fare for seniors that are 60 or older.
Chula Vista doesn’t charge for all its entertainment options, and because it’s only 15 minutes away from San Diego, you have plenty of choices. You can check out Rohr Park for free or head to Balboa Park and visit carousel, train, or Spanish Village Art Center free of charge. You can also stop by the San Diego Museum of Art and pay a reduced fare for admission.
Find assisted living in Chula Vista near you.