[Image Source: Unsplash]


Homesteading in Retirement: How to Do It


A newer trend among retirees nowadays is to trade city life for a slower pace. Some seniors go into homesteading to stay active, pursue a hobby, and appreciate the calm of living more simply. It's a perspective shift, and if you're into the idea, there are numerous benefits involved.

What Is Homesteading?


Homesteading allows you to be self-sufficient in one or more ways. Depending on your dedication, this occupation can mean growing and raising your own food; generating electricity for your property using water, solar, or wind technology; and making your own clothing, furniture, tools, etc.


Retirees may choose to go into homesteading in their golden years for numerous reasons. Some spent their years in busy cities and are now looking for the peace and calm that living off the land can offer. Others may just want a change. Whatever your reasons for considering this lifestyle, you first need to find the right property.

Finding Your Homestead

Deciding to buy a bigger house in retirement provides you with numerous possibilities, so don't be afraid to give priority to what you want most out of this property. You also have to take into account your ever-changing physical and cognitive needs as you ease into your golden years. These are just a few things to keep in mind as you develop your wishes and needs list. In all cases, however, it’s best to work with a realtor like Melanie Kishk who knows the local area and can help you find your dream property in no time.

Number of Extra Rooms

If you want to host family and friends often, you'll have to find a property that has sufficient room for everyone. At the same time, you should not sacrifice your comfort for the benefit of accommodating others. Consider how you could make specific home modifications to support aging in your later years, as well as your homesteading goals.

Common Areas


Being able to entertain is one of the main reasons why retirees upsize their homes. Again, if welcoming family and friends is part of your retirement plans, you may want an open concept floor plan with a fantastic common space where everyone can gather. You may also want to think of the space necessary for grandkids to hang out, such as a bonus room or a rec room.

Size and Outdoor Features


For retirees who want to pursue homesteading hobbies, outdoor space will be one of the most important considerations. The amount of available land comes down to your goals, whether you just want a small garden or sufficient acreage for livestock. Another factor to consider is the home's slope and entrances because an uneven lot could become a safety hazard as you get older and your mobility changes.

Know What You Can Afford


Even before you start to look for a home, you need to set up your budget. Start by calculating what you can afford. You will need to take into account mortgage interest rates, homeowners insurance, loan type, and property taxes. The more variables you consider, the better you will arrive at a closer approximation of what kind of house you can afford.


There are numerous types of loans, but the one that's most right for you will depend on what you qualify for and what makes the most sense for your financial situation. For instance, conventional home loans are low-cost and offer flexible (and sometimes, lower) down payment options. You can choose an adjustable rate mortgage (ARM) that changes over time or a fixed rate loan — meaning, you can maintain the same interest rate throughout the loan duration. And while it’s possible to qualify for a conventional loan with as little as 3 percent down, being able to put down 20 percent makes it possible to bypass mortgage insurance.

The Bottom Line


Just as there are no rules for getting older, there are no rules for what it means to pursue a homesteading hobby. Retirees usually think they have to choose between their home and the lifestyle they wish they'd have, but the fantastic thing about homesteading is that you don't need to compromise. You are not just buying a home — you are purchasing a lifestyle.


Connect with Melanie Kishk and her team to find the perfect home to allow you to live the lifestyle you desire. (718) 627-7390


Bob Shannon created SeniorsMeet.org, along with his wife, Mary, to have a website that allows seniors to meet up and talk about topics that are relevant to their daily lives. They hope to build SeniorsMeet into a community of like-minded seniors.