Where do you picture yourself in retirement? If your answer involves cuddling close with grandkids next to a warm fire and enjoying the plentiful fresh mountain air, then homesteading may be the right move for you. Sounds like paradise, huh? If this lines up with your retirement dreams, it is time to consider the following points to determine whether trading your current home for a custom mountain home is the right choice for your golden years and quality of life.
Downsizing vs. Upsizing vs. Rightsizing
Rather than downsizing because that’s what you think most retirees do, try rightsizing your home according to your needs and lifestyle. Rightsizing, along with aging in place and urbanization, is part of a growing trend among older homebuyers, and finding a home that allows you to explore more passions can open your retirement years up to a world of possibilities.
You may even find that building a bigger house with plenty of space for grandkids, gardening, and a lifetime of good memories is your best bet for a fulfilling retirement. If so, working with a reputable builder like Millworks Construction Services can make those dreams come true. They have over 20 years of experience helping folks just like you build their dream mountain home!
Moving to Be Closer to Family Members
You may be thinking of buying or building your new mountain home to be closer to your grandkids, adult children, or other family members. Before you start planning a relocation, however, weigh the pros and cons of putting family first. That may sound counterintuitive, but your needs and the needs of your kids and grandchildren can be quite different. For instance, you may need to be closer to a VA medical center to access healthcare, or you may prefer to be in a more rural area, away from the metropolitan hustle and bustle.
It’s also wise to talk things over with your children before you start planning such a significant move. Otherwise, you could end up disappointed if they don’t include you in their weekend plans or if they end up moving to a new location.
Weighing The Costs of Building a Custom Home in Retirement
Speaking of loved ones, think about what they would do with your home if you were to pass away or become injured unexpectedly. An uncomfortable thought, but it’s important to consider potential scenarios so leftover debts and end-of-life expenses don’t burden family members in the event of death or disability.
Things to think about, for instance, are that a life insurance policy could help pay off your home if you plan to finance a new custom home. If you were to become injured or suffer a debilitating illness, a long-term care insurance policy could help you avoid selling your home down the road. And refinancing a home in a few years to lower the mortgage payment can free up cash for necessary medical expenses later in life.
Having these sorts of plans in place can bring peace of mind if you decide to build a custom home.
Considering The Perks of Homesteading, Too
Building a new custom home in retirement does come with risks. Yes, there are a few cons to consider, but living on a homestead can also come with some significant benefits for your health and well-being. A sense of independence and self-sufficiency is at the top of that list, but you will also have access to clean, fresh air and an abundance of peace and quiet. Plus, working the land, even in small amounts, is excellent for your physical health. Having time away from the distractions of an urban or suburban environment can open up the door to fulfilling hobbies and practices, as well.
Homesteading is quite merely living off the land and living in a location filled with serenity, peace, and nature. If this sounds appealing to you, think about whether homesteading and buying or building a bigger home is the right move for your retirement.
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