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Thinking of homesteading during your golden years? Becoming a homesteader and buying a larger home can give you more room to enjoy your family and your retirement. Plus with the right planning and you can make sure your transition is as safe and budget-friendly as possible. Ready to learn more? Then these homesteading tips can help.
Rightsizing Can Be Smarter Than Downsizing
As Your Home Headquarters explains, there are some changing trends in the housing market that every senior should know about. One of these trends is that instead of downsizing, many older adults are looking to buy a home that fits their hopes, dreams and needs in retirement. After all, if your retirement dreams include hosting holiday gatherings with your entire family, moving to a smaller home could be a big mistake. So really think about how you want to spend your golden years before you decide what size home will work best for you.
If you do want a smaller house but still want to pick up a homesteading hobby or even grow a community garden for your neighbors, you could compromise by making sure that house is surrounded by plenty of land. You could also get help putting your gardening plans, or any other life plans, together from the folks at Phoenix Voyage.
Budgeting Can Make Buying a Bigger Home Easier
Bigger homes tend to come with bigger price tags, which is why you should sit down and come up with your new home budget before you begin shopping. Some important money matters to think about include how much your monthly income will be in retirement and whether you have enough saved for a down payment on a new home.
You will also want to take a look at your credit and assets to determine what sort of home loan will work best for you. Unless you plan on using a VA loan, a conventional loan is likely to be your best option. With a conventional loan, you have more flexibility around your down payment, plus you may be able to choose your interest plans. You can opt for a fixed rate loan or adjustable rate loan. If you have enough for a 20% down payment, you may also be able to avoid the added cost of mortgage insurance.
Homesteading Can Keep Costs Low in Retirement
While a bigger home costs more initially, your new homesteading hobbies could end up offsetting this larger price tag in the long run. For example, if you were to buy a house with plenty of land where you can grow certain crops, GrowVeg points out that you could drastically reduce your grocery bill. Some of the best veggies and herbs to grow when you’re looking to trim your budget include leafy greens, hearty tomatoes, berries and filling beans.
You can grow these plants for next to nothing, which could give you more money to spend on your new home. Once you feel comfortable, you can also pick up other homesteading hobbies, like canning excess produce, brewing beverages and making household products. All of which can help you reduce waste and save even more.
Planning a Move Can Be Simple and Hassle-Free
Now that you have some home buying and homesteading tips, you can begin planning your move. Since you are moving to a larger home, you may not need to worry about getting rid of too much stuff, but you should still try to declutter. Even with ample space, having too much clutter can be distracting and cause stress, and besides, less is more on moving day. So if you want to focus on your new hobbies, keeping clutter out of the equation is a good idea.
Once you’ve decluttered and organized your belongings, you can start packing. While packing and moving boxes may seem like a simple task, there are some tips you will want to keep in mind to avoid putting stress and strain on your body. That way you can avoid any injuries that could put a damper on your new lifestyle.
Homesteading can be so much more than a hobby. It can be a lifestyle, and it can even be a lifestyle that can add enjoyment and purpose to your retirement.
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