Choosing a place to retire is an important decision to make. You must take into account the kind of lifestyle you want to enjoy during your retirement. Some seniors like to retire in a peaceful and laid-back community, while others seek out active opportunities and thrive in an environment that enables them to explore the outdoors more. No matter what you want to do and enjoy, retiring in Newfoundland is a smart idea.
Use this guide to help plan your retirement and to help decide where you would like to spend your retirement years.
Why Retire in Newfoundland?
Many people choose to retire in a place or country with tropical weather. Therefore, you might be curious to know why Newfoundland is gaining popularity as a retirement destination. Canada, especially the province of Newfoundland, is making a strong case for why it makes a suitable retirement destination.
Retiring in this province appeals to those who want to enjoy a high quality of life. Canada is known as one of the best places to live and Newfoundland is one of its best-kept secrets. Newfoundland boasts stunning natural beauty, a diverse culture, a rich history, and an affordable lifestyle.
How to Retire in Newfoundland
To prepare for your retirement, there are a few things that you must take into consideration. The following are important guidelines to follow if you want to retire in Canada.
- Type of visa and residency
- Your tax situation
- Cost of living
- Lifestyle preferences
- Retirement goals
Taking these factors into consideration will help you begin your preparation to move to Newfoundland for retirement. The type of visa and residency is the most important decision you have to make. Anyone who plans to visit Newfoundland (or Canada, in general) must obtain a tourist visa to enter. This visa has a validity period of 183 days. You must obtain an additional permit and paperwork if you wish to stay longer. Tourists can buy a vacation home and open a bank account in Canada.
A tourist visa is a viable option for those who want to stay in more than one location throughout their retirement. For example, you can stay 6 months in Newfoundland and then move to another location for the next few months. This type of residency also excuses you from paying Canadian taxes.
If you want to live in Newfoundland for good, you need to apply for permanent residency. A permanent residency visa in Canada provides you with healthcare privileges and other government-based programs. You will also be a candidate to apply for Canadian citizenship. There is no such thing as a retirement visa, so you need to consult with an immigration lawyer to learn about how this process works.
Finally, you need to consider the cost of living in Newfoundland. The cost of living is not the same throughout Canada. Some cities and provinces are more affordable than others. The affordable cost of living in Newfoundland is part of the reason why many retirees are choosing it over other major cities in Canada like Toronto or Vancouver.
At the end of it all, choosing where to live in Canada is based on your lifestyle preferences. Some cities might be more affordable to live in, but you may have to give up a few things that you could easily access when living in the big cities. You must weigh the pros and cons of choosing each retirement destination.
Best Destinations for Retiring in Newfoundland
Canada is known as one of the best places to retire and Newfoundland consistently ranks as one of the favourite destinations for retirees. There are several options within the province to choose your retirement home.
The following are the best destinations that are suitable for retirees.
1. St. John’s
As the provincial capital of Newfoundland, it’s no surprise St. John’s is one of the most popular retirement destinations in the region. St. John’s is a picturesque city located in the easternmost part of Canada. It offers a mix of culture, gastronomy, history, and arts.
This city has a vibrant metropolitan area but still maintains a laid-back pace of life. Many liken it to a charming European village; it does have a small-town feel. The locals of St. John’s are very hospitable. Retirees will find it easy to adjust to living there as they are welcomed warmly by the residents. It does not hurt that the city is known for its affordable cost of living and is abundant in recreational and community centers.
But perhaps the biggest draw for retirees is the unspoiled landscape and seascape of this city. Residents can access spectacular natural attractions without going too far.
2. Corner Brook
Corner Brook is among the top retirement destinations in Newfoundland. It is a suitable retirement destination because of the frequency of warm days in the city, which is common in central and western districts. The daily average temperature in Corner Brook is nearly 30 degrees Celsius during the summer months.
3. Gander
The town of Gander in Newfoundland is a good place to retire because of the abundance of recreational facilities. There are plenty of walking trails and parks for seniors to enjoy, especially those who want to live an active lifestyle. The city also offers some of the best quality healthcare and medical services in Canada.
To help you decide on where to retire, here are some important tips to keep in mind:
- Climate – Choosing a retirement location based on the climate is a matter of personal preference. Some people want to retire to a tropical destination and be close to the beach, while others prefer to live somewhere cooler.
- Community – Knowing the type of community that a particular retirement location has will impact the lifestyle that you will enjoy. You must ensure that there are like-minded people that you can meet, or if other retirees are living in the area.
- Culture – Retirees will more easily feel at home in a retirement location that shares the same culture that they are used to.
- Safety – It is important to choose a retirement location that is safe for retirees. Newfoundland is known for its low crime rate.
Retiring in Newfoundland requires a lot of planning. The more planning and research done, the smoother your transition will be. Preparedness will also enable you to make the most of your retirement years, so you can do what you love most.
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