Downsizing can be a great decision for many retirees, but it isn’t right for everyone. If you’re looking to welcome friends and family into your home for holiday gatherings and extended weekends — or you’d like to pursue a new hobby such as homesteading — upsizing could be a better choice for you. Check out these tips on how to find the perfect property for homesteading with the help of RE/MAX Select Professionals and entertaining loved ones in retirement.
1. Identify Your Wants and Needs
If you’re ready to upsize your home for more indoor and outdoor space in retirement, you’ll first need to identify your wants and needs. Will you need a larger home with a certain number of bedrooms and bathrooms to accommodate your friends and family? Are you looking for plenty of land that can be used for raising chickens and honeybees, growing your own food, and selling products such as eggs, potted plants, jams, honey, herbs, and handmade clothing?
In most cases, the land you’ll need for homesteading will depend on the types of activities you’d like to pursue in retirement as well as local regulations. Before choosing a location for your new homestead or beginning your hunt for a new home, you may wish to familiarize yourself with these regulations.
2. Eliminate Debt
Once you’ve identified the different things you want and need in your new home, it’s important to get your finances in order. If outstanding debts are keeping you from pursuing your dreams of upsizing in retirement, for instance, you’ll want to explore your options for debt relief before beginning your search for a new home. A local debt relief specialist can help you to understand your options, choose the right debt management solution for you, and get the relief you need in order to buy your dream home.
Typically, the right solution for you will depend on the following factors:
How much money you owe
Whether you’re employed
Your ability to repay the debt you owe
After you’ve paid down debt and improved your financial situation, you can officially begin the homebuying process. To get started, be sure to review your credit score, set your home buying budget, get pre-approved for a mortgage, and hire an experienced real estate agent to help you https://www.searchpalmcoastproperties.com/buy/ for your new homestead.
3. Look for Homesteading Opportunities
As you begin to search for larger homes with plenty of outdoor space, be sure to keep your home buying budget, homesteading activities, and entertaining needs in mind and share these with your real estate agent. Martin Johnson of Down to Earth Homesteaders offers some advice on finding the right homestead land for you and each of your hobbies, which will help you to save money and be more self-sufficient in your Golden Years.
Prepare for the Move
Once you’ve found the perfect home and land for pursuing all your favorite hobbies in retirement, it’s important to begin your moving preparations. This means decluttering your home, beginning your packing well in advance, and hiring professional movers to assist you on the day of your move.
Moving is a stressful experience at any age, but professional movers will help to lower your stress levels, save you time, and reduce your risk of injury to your back, feet, arms, and hands during the move. If you can’t afford to hire movers, however, be sure to enlist the help of some friends and family members.
Upsize Your Golden Years
Downsizing in retirement gets all the hype, but upsizing can be just as beneficial if you’re interested in pursuing a homesteading hobby and entertaining your kids and grandkids for extended holidays and weekends. You might spend a bit more upfront, but you’ll save money over time once you’ve mastered a few homesteading skills that will allow you to live more self-sufficiently in your golden years.
Are you ready to buy a larger home to grow older in? Contact RE/MAX Select Professionals to begin your search for the perfect home!
Article written and edited by Andrea Needham.