Homesteading has become a popular way of life in recent years, especially for older adults who have more time on their hands after retirement. Not only does it provide multiple opportunities for various streams of income, it’s also an enjoyable hobby that allows retirees to spread out and make room for their extended family. Homesteading does require space, so you’ll want to consider buying a bigger home with a bit of property.
Follow this brief guide for tips on how to navigate real estate, start a business, and more.
Narrow down the search
When you’re ready to start looking for the perfect homesteading spot, think about what your specific needs will be. Many homesteaders want extra space to build a workshop or shed, or to add a guesthouse for friends and family to stay in. If you have loved ones who will be coming to live with you, how much room will you need? If you’re a senior and plan to age in place, look for a home with an accessible kitchen and bathroom and stairs that aren’t too steep.
Others want space to start raising animals or growing crops. The area you choose should have plenty of water and irrigation access, as well as the right kind of soil. If you choose to start a business and will be running it from home, you’ll also need an office space to stay organized.
Depending on the kind of business it is, you may also want to create a play area for kids or a season-specific spot that will allow you to make money all through the year. For instance, a pumpkin patch or apple orchard will create money-making opportunities through the fall, when many traditional farmers are done selling for the year. If you need to level out some land, consider hiring a land grading service. Before hiring, vet contractors based on cost and feedback from prior customers.
Buying and selling
Buying a new home can be exciting, but it can also be frustrating when you’re in the process of buying and selling at the same time. You might find the perfect piece of property right away but have trouble finding a buyer for your current home—this is common in real estate transactions, so, fortunately, there are some things you can do to give yourself a little more time. One of the most popular is asking for an extended closing date, so check out your options if you feel you’re close to a sale but aren’t quite there yet.
Consider the financial benefits
Once you’ve found the perfect spot for your homesteading adventure, it’s time to start thinking about how you can turn your hobby into a stream of income. Many people utilize their land for woodworking, farming, or sewing/crafting and sell products at produce stands, farmer’s markets, and online shops. Wool products, fresh vegetables and fruit, handmade items, and things like jam, canned goods, and honey are all great examples of things you can sell to make money. Think about how you’ll brand and market your goods and consider utilizing an online platform to get your business to new customers.
If you’re planning on starting your own business, be sure to take advantage of some helpful software. For example, cloud accounting software is designed to streamline the accounting process and help you avoid common mistakes. In addition, it can provide valuable insights into your business’s financial health. You’ll also be able to manage bills, expenses, and inventory.
Homesteading can come with a lot of hard work, but it can also be extremely rewarding. If you’ve always dreamed of having enough land to spread out on for both work and play, start building a plan now that will help you and your family members make it happen. By reducing debt and keeping your initial goals simple, you can create a homesteading lifestyle in no time and could even start your own business.
Ready to buy a home? Visit PrimoAgents to find qualified real estate agents in your area!