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Leaders & Innovators: Brokers & Agents

Retire On The North Fork

By carol Szynaka - August 10, 2018

Millions of American baby boomers are considering their next move into the golden years of retirement. It is a time for soul searching. When, where, and how will they retire comfortably and enjoy the golden years? Is a move inevitable or is staying on Long Island an option? Did they put enough money away? Did a career distance them from family and friends and do they want to reconnect? How close is good healthcare? Is there a quality cultural scene and is the climate desirable? What are their options: Florida, the Carolinas, and for adventurous souls Vermont and Maine in pursuit of tranquility. Can the North Fork of Long Island successfully meet retirees needs?

The North Fork was settled in the 1600s. Year-rounders farmed the fields and serviced summer residents from Memorial Day to Labor Day, who left with big smiles, suntans and great memories. Children of the locals couldn’t wait to explore the world and find excitement. They left and came back, educated, and grateful for the beauty and simple life they left behind. Seasonal residents with fond memories of their early years also returned. Charged by improvements in transportation, technology, and media coverage, news that the NF community was evolving spread fast in recent years. A new era of steady growth that checks many boxes for baby boomers considering a lifestyle change was born.

When income slows at retirement the cost of housing, living, taxes, and the value of our assets are all considerations. The North Fork education infrastructure is small. We are not maintaining a legacy of aging buildings and don’t need new ones. As the market continues to attract second home buyers our burgeoning economy driven by entrepreneurial companies will grow. The NF is at the beginning of a renaissance supported by our natural resources, Peconic Bay, LI Sound, and open farm land. Century owned family run businesses Claudio’s and the Soundview Inn have been purchased in multi-million-dollar transactions. These buyers are modernizing and drawing a new clientele to the NF.

Baby boomers live and work different than previous generations often on call day and night via email, phone, text. The line between work and personal life has blurred. As boomers start to consider where to retire they are feeling the need to reconnect, they want to be geographically closer to family and friends, and enjoy the luxury of quality time. The NF, within a couple of hours of NYC and surrounding communities, provides a nice alternative to a big move. Boomers can reduce overhead, stay close to family and friends, pursue hobbies, have access to culture in NYC and a growing local scene, Suffolk Theater, North Fork Theater, Southold Opera. Cornell Cooperative Extension offer volunteers an opportunity to engage in the pursuit of keeping our waters clean. Artists and photographers thrive on the NF.

Peconic Bay Northwell Health in Riverhead and Eastern Long Island hospital along with private medical groups are growing to service the needs of the community. Complimented by NYC doctors a short distance away.

The climate on the North Fork is lovely. If winter weather becomes too much to bare hop on a quick flight from McArthur Airport and you can be south within hours.

Buyers who purchase on the North Fork now will be admired by their offspring for having the smarts to purchase when the market was accessible. Much like those who purchased in the Hamptons 20 years ago. With all things considered the North Fork of Long Island is a great retirement option where an investment in a home or condo, services the needs of a generation that wants to slow down but also watch their investment fast track.

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