It has been found that many New Yorkers are shifting to Florida for many good reasons. Mostly it is South Florida that becomes the first-hand choice for New Yorkers to move. This part of the state provides a lower cost of living, taxes, and warm weather to its residents.
South Florida is a call home for most New Yorkers because of its temperate and sunny climate, where they don’t have to face biting cold winters. Moreover, this place doesn’t charge personal income tax and is perfect for movers who are tired of paying high taxes in New York City.
New Yorkers may be wealthy and other states like New Jersey and Connecticut are experiencing loss. The real estate brokerage based in New York and Florida has helped New Yorkers buy residences at affordable prices in South Florida.
Reasons To Move To Florida
There are some good reasons for New Yorkers to move towards South Florida.
- It’s a place where the residents don’t have to pay city or state income tax because most of the revenue is generated through sales and excise duty taxes. Living in NYC is quite expensive.
- The new tax law supports States with low taxes. Therefore, when it comes to taxes, Florida has a bargain. And after the outbreak of the Pandemic, it has been cheaper as compared to other states with high taxes. The tax cuts and jobs act has affected negatively but before, a deduction of state municipal and income tax was allowed by the tax law. The introduction of the new tax law made the primary home in NYC more expensive. So most of the New Yorkers are moving to Florida.
- The amount of local and state taxes under the new tax law which is deducted for the purpose of Federal Tax is limited and so it’s becoming difficult to pay high taxes out of low savings.
- For state residents, there is no income tax in Florida and so there is no capital gain tax for people. It sounds easy to move from New York to Florida but the state tax authorities in New York do not allow you to leave the city so easily. The resident who has a domain outside NYC will be treated as a statutory resident if he/she spends more than 183 days in the city during a financial year or has a permanent residence in New York.
It’s not easy to register as a voter in Florida or even get a driving license to become a native because the state authorities audit every individual who is shifting to Florida. And for people who really wish to reside in Florida, they have to pay off more.
- The main reason why New Yorkers wish to move is that there are no state taxes in Florida on its own. This means that the properties are concerned with Federal Taxes only. Death tax or a state tax is the tax related to the property may be cash, residence, stock, and other assets and is transferable to the heirs of the deceased person. For US citizens and primary residents, an exception of $5.85 is allowed by the federal state tax code. Whereas in New York City and State when an individual dies his property located within the city becomes subjected to the state tax (state and city).The tax rate varies from 3 to 16 percent.
- New Yorkers are moving to Florida because it has easy bankruptcy laws and this allows unlimited valued primary residences protection against creditors, if a debtor has lived in Florida for 40 months, which is not seen in other states.
Should I Move From New York To Florida?
Florida is also called the sunshine state with lots of residents who love to be there. It’s the topmost inbound state with lower living costs, beautiful beaches, and scenic beauty. It’s warm and temperate climate is good to entice you all year-round. Florida offers a different lifestyle and many things to do.
Pros and cons of moving to Florida:-
Florida State is famous for its beautiful beaches, tropical climate, and wildlife. Apart from white sandy beaches, this southernmost state is a home to metro cities. This diversified state has a lot to offer to its residents and is the best destination for New Yorkers, who are hunting for a new call home. Florida offers the following benefits:-
- Good weather:- Florida enjoys warm and sunny weather all year round. This sunshine state experiences hot and humid summer months along with warm and breezy winter days. The residents or New Yorkers who move to this state don’t have to bear shoveling snow but instead enjoy pleasant weather. You can plan outdoor activities wearing T-shirts and flip-flops throughout the year.
- Cheap cost of living:- In comparison to New York city the cost of living is quite cheap in Florida. Most of the expensive cities in this state are cheaper. The housing costs in Florida are the cheapest among the seven states because of no state income tax. This helps the residents of Florida to save a lot of money from their hard earned income.
- Plentiful beaches:- When you live in Florida the beaches are never far away. This state has award-winning beaches like Clearwater Beach, Delray Beach, Miami Beach, Pensacola Beach, etc. The residents can easily access the world’s most beautiful and best beaches.
- Plenty of things to do:- Due to sufficient sunshine the residents have a lot of things to do and spend time on the beaches. Activities like scuba diving, swimming, fishing, boating, and relaxing make Florida an attractive place. Among the various attractions Sea World, Disney World, and Orlando’s Universal Studios are very famous. Other places to explore include the Florida Keys, Everglades National Park, etc. And to add more, the Miami art deco district has awesome restaurants, shopping complexes, and exciting nightlife.
Cons of moving to Florida:-
- Florida is hotter and humid during summers.
- It’s a long-distance move that leads to higher moving costs and huge expenses.
- Florida being near the sea beach often experiences hurricanes or tropical storms.
- An extreme amount of heat and humidity stops you from playing golf and during winter golf becomes a costly affair.
- Outdoor activities in Florida may result in sweating, combat with mosquitoes, fire ants, and flies biting.
- Water is not clean at Florida beaches and the spots are closed due to bacterial infection.
- With a rise in real estate prices, the taxes are likely to increase.
- The palm trees in your yard need a lot of care and upkeep.
- Because of the local residents and tourists, crowd parking seems to be a difficult job.
- The skin-damaging rays in Florida lead to premature wrinkling without sunblock applications.
How Much Does It Cost To Move From New York City To Florida?
Moving from New York City to Florida takes 20 hours hence it is advisable to plan a trip with some conditions and stoppages. It all depends on the destinations along the way. For covering long distances it is suggested to hire an affordable and professional moving company.
The average cost of moving could range from $1700-$3000. When it comes to average cost it is somewhere from $3000 to $6000. If you are moving with a friend then the cost may be $1321.63 approx.
What Is The Cheapest Way To Move To Other States?
There are almost twelve ways to move to other states at a cheaper price. This will help you save money if you are budgeting well. The best way to keep your moving cost low is fitting your belongings into your car’s trunk. But if you have a lot of stuff, you need to look for some saving tips, which are as follows:-
- Always pay the moving charges in cash to save wastage of money on interest. It’s a dumb idea to swipe credit cards to meet the unexpected costs of moving. So always plan a moving budget to reach your goals. Cut a few unwanted expenses from your monthly income.
- To lower your moving cost, sell-off heavy and large items and get rid of the junk. The money saved on these items can be used later for purchasing them after your move to a new state.
- Pack your things or stuff in reusable boxes found at local grocery stores. In case of delicate stuff, you need to pack them with crumpled waste papers, pillows and towels.
- Negotiate with your employer for a relocation package. This is the cheapest way to move, which is offered by the employer to benefit the workers and recruit talented employers.
- For packing and loading, seek help from your friends. And make sure that you return the favor willingly.
- Always try to move during weekdays, winters, or off-season to save a lot of money
- If you don’t own a car and want to move with your stuff use public transport.
- Hire a cargo trailer or a moving truck at an affordable price to shift your furniture and appliances. You can also haul a moving container as a reasonable option.
- You can also hire movers that are budget-friendly if you are unable to carry out the moving process on your own.
- Look for auto insurance policies while moving and avoid paying extra insurance even if you are asked for it in the name of protection against damage/theft like events.
Out of the above-mentioned tips for moving to other states at a cheaper price, it is advisable to choose the best option that suits your budget and needs.
What Other States Are New Yorkers Moving To?
As stated in the reports, New Yorkers are moving to four major states such as Florida, New Jersey, California, and Pennsylvania. Among various states, Hawaii, Montana, Delaware, Colorado, Alaska, Nevada, Idaho, and New Hampshire attract more migrants.
The rate of mobility has increased due to Coid-19, the New Yorkers moved to Texas and the other Sunbelt States with less density of people. According to the Census Bureau data, more than half of the New Yorkers moved to California and North Carolina. It has been found that New Yorkers are settling down in Miami on account of beaches, big restaurants, and safe living.
How Much Does It Cost To Move From NYC To Miami?
Moving from NYC to Miami costs around $3000 on average. But when you move with allies the average cost comes to $2321.42. There are many factors that influence the mobility cost like the exact distance you will cover, the number of stuff you want to move, shipping, handling, packing, and unpacking charges. Moving to Miami needs a lot of organization and planning.
Since you cannot make repeated luxury trips off and on, so it should be executed well. The right transition will make the move less stressful, and smooth to help you enjoy your new home in Miami. The cost of living here is very low and to maintain a fair standard of living earning $37104 is enough. The cost of living for a four-member family in around #3700, for a single person, is #1000 per month. But the cost of rent for apartments ranges from $1700 to $2100. The employees in Miami get 19.1% less salary than New York City.
If you are on your way to moving from New York City to Florida it is suggested to ensure that your move is well planned according to your budget. Before you start, prepare yourself for a seamless trip. This will help you avoid unwanted stress and the various complexities of long-distance travel.
Always hire a professional moving company to make your move easy and affordable from start to end. Hire experienced movers in case you are moving with all your belongings. Always make cash payments. Use public transport to save a good amount. Look for movable packages offered by your employer to reduce your expenses.