Many people dream about retirement, but can you picture yourself retiring in a place where you don’t know anybody?

Now imagine the dilemma Jim and Anne are facing.

The couple is approaching retirement, and they’re eyeing Tallahassee because of the cost of living and lifestyle. There’s just one snag: they don’t know a single person there.

A big move across the country from their hometown of San Francisco to Florida would mean lower expenses and sunshine, and a completely fresh start for them socially. So what should matter more: the cost of living or having loved ones around?

Even though their financial security matters, their quality of life is on the line, too. If they move somewhere cheap but feel isolated, they may end up regretting it. On the other hand, staying close to friends and family but struggling with the high cost of living could also take the joy out of their golden years.

It’s not an easy decision, and they should factor in more than just the dollars.

Jim and Anne are considering Tallahassee for the weather and lower cost of living. But, does it really add up to being that much less than San Francisco?

According to Payscale, the cost of living in Tallahassee is 7% lower than the national average. (1) Housing comes in at 15% lower, and utilities also run cheaper than average, at 16% lower. That means their retirement savings could stretch further if they buy or rent a home there.

But there are trade-offs. Health care costs, for example, are 11% higher than the national average, and as retirees, that’s an important factor. The National Council on Aging recommends that seniors budget for Medicare and health care expenses, and says that the average American should expect to pay around $75,000 for health care during their retirement years.

Another important factor to keep in mind is that if Jim and Anne move across the country, they’ll need to think about the cost of flights, road trips and hotel stays to visit loved ones back home, which can add up quickly. Over time, those travel costs could cancel out some of the financial savings of living in a cheaper city. As well, as they get older, frequent travel back and forth might not be as easy as it is now.

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Even though Tallahassee may not be one of the cheapest U.S. cities in which to retire, because Jim and Anne are coming from a significantly more expensive city (San Francisco’s cost of living is 65% higher than the national average), the financial difference overall could feel huge, potentially freeing up thousands of dollars a year. (2) They’ll have to go through the numbers carefully, but that money could cover increased travel and health care costs — or, just provide more peace of mind.

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After carefully considering the financial side of things, the couple also needs to think about whether they can find new friends in a brand new city. Loneliness is a real risk for retirees, with more than a third of older adults experiencing it (3), but Tallahassee can offer plenty of opportunities to build a community if Jim and Anne are willing to put themselves out there.

The Tallahassee Senior Center, for example, is a hub for activities, ranging from art classes to fitness programs, offering locals a place to gather and connect over shared interests. And the Osher Lifelong Learning Institute at Florida State University offers classes and lectures, if Jim and Anne are interested in continuous learning.

If the couple decide to buy into a housing development, especially one that has shared amenities like a pool or gym, they’ll increase their opportunity to meet new neighbors and form new relationships.

Volunteering, part-time work and community events are also great ways to meet people while adding structure to their days. Being active in the community through these types of activities can also bring a sense of purpose and belonging, and gives the couple opportunities to meet new people and make new friends. AARP offers members a listing to help them find volunteer opportunities in their communities. (4)

Jim and Anne can start by having some honest conversations with each other and asking questions like:

Are we moving to save money, or are we looking for a lifestyle change?

How much does it matter to us to be near friends and family?

Do we see ourselves trying out volunteer work or classes in order to meet new people?

Have we factored in not just housing and utilities, but also health care and travel costs?

Another thing Jim and Anne can consider is renting for the first year they live in Tallahassee, dipping into local clubs and classes, and seeing how it feels before fully committing to buying a home in the city.

If they’re financially comfortable, they may not need to chase the cheapest option and can focus more on building a retirement life together that fulfills them. If money is tighter, the cost of living should carry more weight, but even then, Tallahassee also has lots of options for them to build a social network from scratch.

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Payscale (1); Numbeo(2); Retirement Living: Journal of Retirement Research (3); AARP (4)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.