What Do You Need for a Homesteading Retirement?

Homesteading has a lot of benefits to offer seniors. It requires regular physical activity, and keeps you in great shape. People who grow their own food tend to have healthier, more nutritious diets. You’ll also cut down on your grocery bill and your carbon footprint all at once. If this sounds good to you, Seniors Guide shares how to get started with a homesteading retirement.

Consider Your Budget

Your first step in any property search should be figuring out your budget. After all, you can’t even really research the market properly if you don’t know how much you have to spend. Take a look at your savings, income, and debt. If your debt-to-income ratio isn’t great, look for ways to improve your credit score. 

To get a firm budget, reach out to a lender and ask about getting pre-approved for a mortgage. Pre-approval is an absolutely vital step when buying in today’s market. Sellers aren’t interested in risky sales, so they’re not likely to go with someone who hasn’t already secured their loan. Plus, pre-approval lets you know exactly how much you can afford, so you don’t have to worry about getting in too deep with a too-expensive property.

If you have a good credit score, a conventional home loan may be a good fit. These loans offer more flexible term and down payment options and are available for a variety of properties. On top of that, you won’t have to worry about mortgage insurance if you put 20 percent down. Review PennyMac current rates to get an idea what’s available.

Open Your Mind

When you think of a homestead property, you might only picture a big farmhouse with sweeping, crop-ready acreage. Obviously, this works, but it’s far from the only place you can live out your homesteading dreams. In fact, more modest options are often a better fit for people who want a homesteading retirement. After all, tending acres and acres of crops isn’t exactly the picture of retirement. You want to stay busy, not run yourself ragged.

However tending a modest, effective garden absolutely is, and you can make that work almost anywhere. Urban and suburban farming is rapidly growing more effective and accessible. There are all sorts of solutions for planting a full, productive food garden in the smallest of spaces. You don’t even have to go rural to invest in livestock: Many cities and neighborhoods are allowing backyard chicken coops in order to meet local interest.

Now, this isn’t to say you can’t or shouldn’t look for a rural home. If your perfect retirement is all sweeping fields and seclusion, that’s wonderful and you should pursue it. But if you want to split the difference between self-sustainability and urban access and community, it’s certainly possible to achieve.

Plan Your First Year of a Homesteading Retirement

This may sound excessive, but make a plan for your first year (or two) in your homestead property before you move in. Why? To homestead effectively, there’s a good chance you’ll need to start clearing, prepping, and planting as early as day one. Don’t be surprised if you find yourself plotting out your garden area while movers carry in your things.

Homesteading does get easier and more familiar, but the first year or so is always a practice in learning planting seasons, figuring out routines, and trial and error. This is all harder to navigate while also getting used to a new property. If you plan out your crop cycles and workflow before you move, you’ll have a framework to use as a starting point.

Homesteading isn’t an easy retirement, but it is a rewarding one. Finding the perfect homesteading retirement property is just the first step toward living out your self-sustaining dream. Once you’re settled, you can build the life you’ve imagined!