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Retired and Ready to Flip a Home?

With the popularity of “house flipping” cable television programs, many people are drawn to the prospect of making a business out of restoring distressed homes for resale. And it can be a money-making venture, but only if you’re going into it clear-eyed and prepared. The old saying that goes, if anything can go wrong, it probably will, is never so true as when it comes to house-flipping. Things will invariably go wrong and often—ever see the 1986 Tom Hanks movie The Money Pit? But that doesn’t mean you shouldn’t do it, it just means, however much you think it will cost, it’s going to cost more.

But oh my goodness, can it be satisfying? Taking a home that was once loved and lovely and making it that way again after neglect and disrepair can be the most fulfilling job you can undertake. And it isn’t only the restored home that you lift, it’s the street, the neighborhood, and the community that benefits as well.

Susan Tierney and Kathy Karagin of Home Girls Properties know what it takes to restore and renovate homes, they’ve been involved with a few themselves. And they know what it takes to buy and sell a home too, especially if there are difficulties that must be overcome. With their combined experience in real estate, mortgage financing, and investments, they’re more than prepared to help you with all your real estate needs. Here, they offer some advice to you, future house-flipper.

Before you spend the first dollar on a home you plan to flip, you need to consider the costs involved and how you’ll pay for it. If you’re retired and downsizing, then perhaps you’re selling a home you’ve lived in for decades and will have that cash to use. That’s the best option since loan costs won’t eat into your profits.

In order to sell your house quickly, and for the maximum amount of profit, do some sprucing up first. A fresh coat of paint inside and out is an inexpensive way to make your home look newer. Try adding details to catch the eye of prospective buyers, like interesting and unique wallpaper that you can customize. You can apply it yourself with peel-and-stick paper that can also be easily removed without leaving any residue. Replace any outdated appliances and light fixtures too.

If you plan to make home renovations for your business, you’ll want to consider structuring that business as an LLC. That type of business structure protects your personal assets from your business financials. You can do this yourself online in only a few minutes, saving you attorney fees, too. Rules vary from state to state, so check with your local officials before you set it up.

Contract with a real estate agent who is familiar enough with the area you’re looking in to know if the market is expected to move up or down. They can steer you toward homes that they feel will give you the biggest bang for your buck. They can also find deals you aren’t privy to, know who the best local contractors and subcontractors are, and can negotiate with sellers for you.

Don’t try to flip a house with structural damage like a weak foundation, or plumbing and electrical that need to be replaced. Go for the type of restorations that include things like paint, new appliances, landscaping, and flooring. A lot of those tasks are things you can do yourself, like installing cabinets and countertops if you have the skills and tools necessary.

Have a plan for marketing your property when it’s ready. The Facebook marketplace has one billion active users, so you’ll definitely want to take advantage of that. You can create your own ads using a Facebook ads maker that you can customize to include your own brand, image, colors, and designs.

House flipping can be a great post-retirement business if you don’t try to bite off more than you can chew. Don’t let a super low price lure you into a Money Pit situation. Instead, go for what you know you can handle, even if the expected profit may be less grand. Frequent smaller renovations will make for far fewer headaches than trying to tackle the bigger ones.

If you want to sell your house quickly, no matter the condition, contact Susan and Kathy at Home Girls, they’re known for having the highest standards and the happiest clients.

HomeGirls
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How to Support Your Senior Loved Ones By Moving Closer

The important people in your life are slowly changing as the daily hustle keeps you occupied. While you weren’t looking, your senior loved ones who cared for you in the past may have developed a need for your time and attention. It’s important to take the time to check for signs that the seniors in your life may require your personal care locally. Making a big move and taking on the caregiver role isn’t easy, but the responsibility can be lightened by keeping some helpful tips in mind from S2 Equities.

Signs That a Senior Requires Additional Care

Next time you visit or speak to your senior loved one, take the time to investigate for any telltale signs that they may not be fit to live alone without support. In doing so, it’s important to maintain a healthy respect for their privacy. However, further action may be required if your loved one is in physical danger or is experiencing emotional distress in their own home. You may want to consider moving closer to your elders if you notice any of the following signs:

  • They have had a hazardous fall or are in danger of falling.
  • They have been involved in car accidents or are unfit to drive.
  • They are ignoring or forgetting bills, legal documents, or other mail.

Ways to Help a Senior Live Comfortably

If you live near your older relatives, there are a number of ways to help them in their day-to-day lives. The crucial first step is to address safety concerns by installing railings to prevent falls, checking electrical appliances and outlets to prevent fire, and preparing for natural disasters and other emergencies. You can also help maintain their physical and mental health by encouraging them to remain active and social. If it turns out that a senior’s health and safety needs can not be met in their current home, it may be time to review other living options with them. There are professional home care options, assisted living, and several other avenues worth researching.

Loan Considerations for Purchasing a New Home

Deciding to be near your loved ones entails making the big commitment of purchasing a new home. This may necessitate taking out a mortgage loan, especially if your relocation is happening suddenly. The amount you can borrow from a lender is related to your debt-to-income ratio. You can calculate your own debt-to-income ratio by dividing the sum of your monthly debt obligations by your gross monthly income. Having this information on hand will help in planning an impending move.

Tips for Making the Move Easier

The actual moving process of relocation can be the most tiring part of the whole affair – though that’s greatly simplified if you work with the experienced realtors at S2 Equities who can work professionally and compassionately to help you find a new home and make sure the necessary paperwork is completed in a timely manner.

If you’re transitioning into the role of caring for a loved one in need, the last thing you want to do is waste too much time and effort on packing and unpacking. You can make the process easier for yourself by following some moving tips like taking pictures (especially if you’re hiring a moving service), packing on a room-by-room basis, and meticulously labeling boxes.

While a sudden move is difficult to pull off, it may be the right choice for you if you have identified the signs that a senior loved one requires additional care. The moving process can be simplified by following some common advice, but taking care of your seniors is a long-term labor of love. Constant communication is the key to achieving a safe and comfortable life for years to come.

S2 Equities help make your life easier and get you out from under the property or situation that’s stressing you out or just help you monetize your real estate asset. We provide win-win solutions to help homeowners sell their property no matter the condition, area or circumstance. Call (214) 676-1085.

HomeGirls
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How to Convert Your Garage Into Your Dream Home Office

If you’re like most homeowners, you likely have a garage on your property. But is your garage gathering dust, cluttered with all the things you never use but just need to keep? You’re not alone – but you’re also not realizing the full potential of your space. As work from home has become the new normal, converting your garage into a fantastic home office setup will be the way to go. Here, HomeGirls show you how to get started.

Do a Clear Out

Most of us use our garage as a dumping ground for years’ worth of belongings. You might need to do some significant organizing here. After all, you don’t want to be taking your video calls with mess and clutter in the background! If you’re struggling to let your items go, consider using the three-box (or pile) method. Essentially, you sort your belongings by category: keeping, throwing, and donating or giving away. If clearing things out is still proving difficult, consider alternative storage solutions. There are many smart hidden storage solutions on the market. You could also use a room divider to sort through the space, so it’s out of sight, out of mind!

Make Your Space Usable

Before you can get to decorating, you’ll need to sort out a few basics. For example, most garages come in a concrete finish without proper flooring. You will need to furnish your space with floor or carpet tiles to be usable and comfortable throughout the year. Insulation will be another essential element to sort out upfront. Be sure to get your insulation updated and inspected to ensure it keeps the heat and cold out. For a DIY fix, caulking openings such as windows and doors will be effective in making your space more usable.

You might also be wondering what to do about your car. If you previously stored your vehicle in the garage, you might be worried about exposing it to external elements. Luckily, there is an easy solution for this problem – car covers! When choosing a car cover, keep in mind the climate you live in and if you need additional features like door zippers and reflective strips.

Take Stock of What You Need

Now that you have a functional, livable space, it’s time to set it up for your work needs. A recent study by CNBC reported that despite the increasing prevalence of the work-from-home lifestyle, over 39% of homeowners still haven’t set up their offices. To avoid feeling like you’re working out of a makeshift space, take stock of all the items you’ll need for work. A chair and desk setup will be an absolute must, and you may also need to set up printers or a fax machine. Lastly, consider storage for paperwork and other documents. When you fit out your space, try to avoid using any old furniture lying around the house. Not only will this give your space a mismatched feel, but old furniture is also unlikely to support your long work hours. Most Americans work over eight hours a day, meaning that lack of ergonomic support during these hours can take a toll on the body. Good path writes that ergonomic furniture (particularly a chair and desk) helps improve posture and reduce stiffness, pain, and a myriad of other problems.

Converting your garage into a dreamy home office has never been easier! Don’t let your garage gather dust. Instead, see it for the gold mine it is! Be sure to incorporate these tips into your space and see how your productivity skyrockets.

HomeGirls
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Becoming a Homeowner Despite Your Financial History: 5 Essential Tips

You’re tired of renting, and you’ve been daydreaming about buying your first home. But you’ve made some financial mistakes in the past, and now, you’re not sure if you’ll be able to purchase a home. However, buying a home with a rocky financial history could be easier than you think, especially with alternative financing options provided by Home Girls Property Solutions. Here’s how to close on your ideal property, no matter your financial background!

Pay Down Debt

Even if you wish you had made different financial decisions in the past, you can start improving your current financial situation today by paying down your debt. If you’ve only been making minimum payments on your debt, it’s time to start allocating more money towards this goal each month. Go over your budget to figure out which unnecessary expenses you can cut, and consider starting a side hustle to bring in some extra cash. Not only will having a smaller debt burden give you peace of mind, it will also improve your credit score, which can help you qualify for better terms on your loan.

Improve Your Credit

In addition to paying off your debt, there are plenty of other strategies you can use to boost your credit score. And if you stay focused on increasing your score by sticking with these financially savvy habits, you’d be surprised by how much progress you can make in just a few months! If you want to fix your credit score, Nerdwallet recommends disputing any potential credit report errors, using less than 30% of your credit limit on each card, and, of course, paying off your bills on time each month.

Research Types of Mortgages

You do not necessarily need to take out a conventional mortgage. Many people assume that a conventional mortgage is their only option, but in fact, there are a wide variety of mortgage loans that you should research! For instance, Summit-Mortgage states that if you have a shaky financial track record, you may still meet all of the requirements for an FHA loan or a USDA loan. If you’re a veteran, you may be able to use a VA loan. You could also look into buying a home through owner financing.

If you’re not sure what type of mortgage is right for you, it’s a good idea to seek professional advice. You can talk to a housing counselor to get an expert opinion.

Accept a Higher Interest Rate

You can shop around at different mortgage lenders to find out who will offer you the best interest rate. However, keep in mind that your financial history might mean that you will need to pay a higher interest rate. But this doesn’t have to be an obstacle to homeownership. You can accept a loan with a higher interest rate now in order to buy your house and then consider refinancing your mortgage in a few years.

Offer a Larger Down Payment

Your real estate agent can help you find homes within your budget. Overall, it never hurts to offer a bigger down payment if you’re concerned that your financial history might make it more difficult for you to buy a home. A large down payment proves that you’re capable of making and saving money, and it will also create a more enticing offer for a home seller.

If you’ve struggled financially before, don’t assume that homeownership is out of your reach. You may be surprised by the many flexible mortgage options available to homebuyers. With these tips, you’ll be able to secure a loan and get an offer accepted on a home you love!

Having trouble buying a home with a traditional mortgage? Home Girls Property Solutions can help you become a homeowner! Connect with us through the contact form on our website to get started.

Cindy Aldridge
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Smaller Home, More Pets: Downsizing When You Have an Animal Companion

If you have a dog or a cat, you’re among the majority of households in the United States. While we typically think of animals needing lots of room to roam, the truth is that many of our pets will thrive in a smaller home or even a condo. If you’re looking to downsize, don’t fret. The tips below will help you make your move without upsetting the delicate balance your animal has come to expect.

Today’s post is just one of many informative pieces presented by the Home Girls.

General Home Buying Tips

Before we get into the specifics about moving with the pet, it’s a good idea to cover a few quick points about buying a home in general. First, check your credit score. This will help you make a better decision on the type of loan to apply for. For a conventional loan, you may need a higher credit score than if you opt for an FHA or VA loan. You can find out more about the different types of mortgages by visiting Penny Mac US. You also have to determine a budget, decide where you want to live, and partner with a realtor that has experience in your location.

Features to Consider 

When you’re downsizing, you’ll need a home that continues to meet your and your furry family’s needs. Aside from the number of bedrooms and bathrooms, you’ll want to make sure that your new home has a yard or is within close proximity to public areas where dogs can run and play off-leash. If you do opt for a house with a backyard, it must be fenced, ideally with solid materials, which will keep your pet from being distracted by other animals and neighbors. Daily Paws suggests fencing made from vinyl, wood, or metal.

Something else you must also think about is whether or not you plan to live in a community with a Homeowner’s Association. Some HOAs may restrict the number of pets you have and bar you from having a certain type of fencing or a visible doghouse (in this case, you’ll have to get creative).

Are You Selling, Too?

If you also plan to list your current home and you have pets living with you, you’ll need to set the stage for a successful sale so that you can expedite the moving process. Your first task here is to remove evidence that a pet still lives in the house without downplaying features that will appeal to other pet parents.

Getting rid of the smell is your hardest task but one made easier when you open the windows. This is especially effective when the weather cools down and you can keep the windows open for longer, which helps circulate air and purges your home of dust, smoke, and other irritants, such as pet dander. Comfort Heating, Cooling, & Plumbing cautions, however, that you might want to keep the windows closed if it’s humid out. Regardless, you’ll still need to make sure to shampoo the carpets, clean the upholstery, and move your pet’s food, bed, and toys out on showing day.

Moving Day Mayhem Averted 

Moving day is a source of stress for many animals (not to mention their human companions). You can streamline the process by hiring a moving service, keeping your pet safely in their crate, and making sure their tags and microchip are up to date in case they wander during all of the excitement. If you’re moving across state lines, talk to your vet about obtaining a health certificate and whether or not you need medicine on hand for motion sickness.

Downsizing has become more popular among empty-nesters, retirees, and younger couples. But, less space doesn’t mean you can’t find the perfect house for your entire family, those with four legs included. Talk to your realtor and veterinarian if you need more information or guidance.

HomeGirls
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Becoming a Homeowner Despite Your Financial History: 5 Essential Tips

You’re tired of renting, and you’ve been daydreaming about buying your first home. But you’ve made some financial mistakes in the past, and now, you’re not sure if you’ll be able to purchase a home. However, buying a home with a rocky financial history could be easier than you think, especially with alternative financing options provided by Home Girls Property Solutions. Here’s how to close on your ideal property, no matter your financial background!

Pay Down Debt

Even if you wish you had made different financial decisions in the past, you can start improving your current financial situation today by paying down your debt. If you’ve only been making minimum payments on your debt, it’s time to start allocating more money towards this goal each month. Go over your budget to figure out which unnecessary expenses you can cut, and consider starting a side hustle to bring in some extra cash. Not only will having a smaller debt burden give you peace of mind, it will also improve your credit score, which can help you qualify for better terms on your loan.

Improve Your Credit

In addition to paying off your debt, there are plenty of other strategies you can use to boost your credit score. And if you stay focused on increasing your score by sticking with these financially savvy habits, you’d be surprised by how much progress you can make in just a few months! If you want to fix your credit score, Nerdwallet recommends disputing any potential credit report errors, using less than 30% of your credit limit on each card, and, of course, paying off your bills on time each month.

Research Types of Mortgages

You do not necessarily need to take out a conventional mortgage. Many people assume that a conventional mortgage is their only option, but in fact, there are a wide variety of mortgage loans that you should research! For instance, Summit-Mortgage states that if you have a shaky financial track record, you may still meet all of the requirements for an FHA loan or a USDA loan. If you’re a veteran, you may be able to use a VA loan. You could also look into buying a home through owner financing.

If you’re not sure what type of mortgage is right for you, it’s a good idea to seek professional advice. You can talk to a housing counselor to get an expert opinion.

Accept a Higher Interest Rate

You can shop around at different mortgage lenders to find out who will offer you the best interest rate. However, keep in mind that your financial history might mean that you will need to pay a higher interest rate. But this doesn’t have to be an obstacle to homeownership. You can accept a loan with a higher interest rate now in order to buy your house and then consider refinancing your mortgage in a few years.

Offer a Larger Down Payment

Your real estate agent can help you find homes within your budget. Overall, it never hurts to offer a bigger down payment if you’re concerned that your financial history might make it more difficult for you to buy a home. A large down payment proves that you’re capable of making and saving money, and it will also create a more enticing offer for a home seller.

If you’ve struggled financially before, don’t assume that homeownership is out of your reach. You may be surprised by the many flexible mortgage options available to homebuyers. With these tips, you’ll be able to secure a loan and get an offer accepted on a home you love!

Having trouble buying a home with a traditional mortgage? Home Girls Property Solutions can help you become a homeowner! Connect with us through the contact form on our website to get started.

HomeGirls
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Why High-Income Households are Downsizing to Rent

Why High-Income Households are Downsizing to Rent

The U.S. is home to more renters than ever before. Today’s renters aren’t just students and those who can’t afford to buy, however. Renting is also growing more attractive to wealthy Americans seeking convenience, flexibility, and efficiency. The number of high-earning renter households rose 45% between 2010 and 2018 before spiking even higher during the COVID-19 pandemic.

Why are high-earning Americans renting at record rates, and what does this mean for the multifamily sector? These are the need-to-know insights from Home Girls Properties.

Why high-earning Americans are choosing to rent

Renting has long been associated with less space, autonomy, and stability. So why are well-to-do Americans choosing to rent?

Affordability

Rising home prices make renting more favorable for young professionals who may lack the savings for a down payment or the emergency fund to weather the unexpected costs of homeownership. Renting is cheaper than buying in several top markets including Dallas-Fort Worth, Texas; San Diego, California; and Seattle, Washington. That’s before factoring in the upfront costs of buying a home.

Young adults are also waiting longer to get married and start families. For these households, renting is a practical choice as well as a financial one.

Flexibility

Remote work made Americans realize they can work anywhere. In response, they’ve left high-priced urban centers for areas with lower costs of living, proximity to family, and greater recreational opportunities.

These professionals aren’t setting down roots, however. Instead, they’re taking advantage of renting’s flexibility to keep their options open. Whether you want to explore a new destination every few months or pursue new opportunities at a moment’s notice, renting makes it possible.

Convenience

Walkable neighborhoods, on-site amenities, and maintenance-free living appeal to Americans of all ages. Retirees, working professionals, and families alike want to spend less time commuting and keeping house and more time enjoying their lifestyle.

Renting not only delivers a central location at a lower cost than a comparable home, luxury rental communities include top-shelf amenities: Of the 611 properties currently for lease in Fort Worth, TX, 266 include a fitness center, 208 have on-site personnel, and nearly 378 boast a pool.

Aging in Place

Retirees are ready to downsize from suburban homes to walkable communities, but they face fierce competition for affordable houses in desirable locations. Rather than sacrifice a great location, they’re leaving homeownership behind in favor of a low-maintenance renter lifestyle.

Beyond the immediate cost savings, renting avoids many of the accessibility issues related to aging in place. Homeowners spend thousands modifying homes for aging in place, whereas many modern apartments are built with accessibility in mind with features like elevators, open floor plans, and hardwood floors.

Is this the year to invest in multifamily property?

With more high-earning households entering the rental market, is 2021 the year to invest in multifamily rental property? Multifamily real estate historically outperforms other commercial real estate sectors through downturns and the demand for modern multifamily housing is only rising.

Fort Worth is among the hottest markets to watch in multifamily. With this in mind, 2021 could be ripe for opportunity in the multifamily sector. Let Home Girls Properties guide you through the process of finding your next home in Fort Worth. Contact to learn more. (214) 676-1085

HomeGirls
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Senior Living Decisions: Rent, Sell, or Keep Your Home?

If you’re entering your retirement years, you might have realized that you would be safer and more comfortable in an assisted living facility rather than your family home. Now, you need to determine what you should do with your current property. Navigating this process can be tough on your own, but working with Home Girls Properties can take away your stress! These guidelines will help you decide how to manage your family home if you need to move into assisted living.

Types of Accommodations

First, it’s important to gain a thorough understanding of the various housing options available for seniors. A retirement community is generally a place for active seniors who need minimal assistance, while an assisted living facility provides residents with more day-to-day support. Finally, skilled nursing facilities offer residents around-the-clock care for medical issues. To find the right local nursing home, you can check out databases like SeniorCare, where you can find comprehensive facility reports in your area of choice, as well as pricing information and a range of payment options. In Dallas, for instance, there are at least 39 facilities you can tour.

Working With a Realtor

If you will be selling your home and moving into a senior community or nursing facility, you’ll need the right realtor who understands seniors’ home and downsizing needs! To choose a great realtor, Million Acres recommends checking out their licensing and certifications, asking if they specialize in senior real estate, and considering how many years of experience they have.

Selling Your Home

If you plan to relocate to an assisted living facility, and neither you nor any of your relatives will be able to manage the responsibilities that would come along with renting out your home, you will need to prepare your home for sale. This might involve conducting minor home improvements, staging your home, and cleaning it up for viewings or open houses. Getting your home ready for the market and selling it with a realtor will incur some minor costs, but you can use the profits to cover the costs of assisted living.

Renting Your Property

Moving into an assisted living facility while renting out your previous property can be a smart fiscal choice – but being a landlord is also a lot of work, and either a relative or property manager will likely need to assist you with these tasks. Therefore, this is not a decision to be made lightly. LegalZoom states that if you want to rent out your home, you should read up on your local laws regarding tenants’ rights, get the appropriate insurance coverage, hire a reputable landlord attorney, and be prepared to thoroughly screen potential tenants. A rental property can provide a steady flow of income, but you will need to invest in your home to spruce it up for tenants.

Keeping Your Home in the Family

What if you don’t want to sell your home, but it’s not the right place for you to live anymore? And what if renting it out wouldn’t be feasible, either? You could think about keeping your property in the family as a vacation home. This could work well if your family is generally cooperative and can handle sharing the responsibilities and costs of maintaining the property. Remember, this is a big undertaking for everyone who would use the home, so do not make a decision like this without consulting every person who would be involved. You’ll need to distribute expenses fairly amongst your relatives.

Deciding what to do with your home in your golden years is as much of an emotional decision as it is a financial choice. You’ll need to consider your portfolio and whether or not your loved ones could help you manage the property. By following these tips, you’ll be capable of making an informed choice about selling or keeping your home in retirement!

Ready to start searching for a new home where you can enjoy retirement? Turn to Home Girls Properties for your search! Call us today at 214-676-1085 to get started.

HomeGirls
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Downsizing For Seniors: What To Do With Your Home

Photo by Pixabay

When most seniors decide to downsize, they face many challenges both physically and emotionally. Letting go of possessions and the place you’ve called home for years can be very stressful, especially if you are processing all this in the wake of a major life change, like retirement or losing a loved one. While letting go of your family home and certain possessions can be a challenge, it can also become incredibly freeing; it just takes a little time to get there. Fortunately, the following tips from HomeGirls Property Solutions can help you get through the downsizing process more easily.

Why Downsize?

Many seniors are drawn to the idea of downsizing because a smaller home means saving money on the cost of utilities. Selling or renting your home can also help you pay for medical costs, living expenses, and/or caregivers who are needed for independent living. Perhaps your current home does not have the accessibility modifications to keep you safe and secure, or you simply hope to retire to a more exciting or vacation-like destination. In either case, downsizing can help.

Options for Your Current Home

Now that downsizing is on your list, you’ll want to spend a considerable amount of time deciding what to do with your current home. Take the time to look at the average cost of homes like yours in your area. This will help you decide if you want to rent your home, sell it or leave it in the care of a family member.

  • Rent Your Home: For many seniors, renting their home can create a monthly financial safety net that adds a significant cash cushion, especially for those living on a fixed income. Plus, renting gives you the option to sell later, when the housing market is leaning more in the sellers’ favor. However, Interest advises being sure you understand your legal responsibilities as a landlord, and have enough money set aside to take care of repairs (a plumbing service can cost an average of $250 to $500, for example) and keep things afloat between tenants.
  • Sell Your Home: Selling your home can give you a nice lump sum of cash, which you can use to offset the cost of a new home, travelling or medical expenses. Many seniors put that cash toward paying advance rent in an independent living center or a downpayment on a home in a retirement community. Plus, you can stockpile extra profits by selling the furniture and possessions that won’t be accompanying you to your new home. Just remember that when you’re selling your home, it’s critical that you connect with a skilled and dedicated real estate professional in the area.
  • Leave Your Home With Family: Letting a loved one move into your home after you downsize can help manage a lot of anxiety about leaving a home. This can be a helpful way to offer a loved one access to their inheritance. It can also be a great way to maintain your home as an investment property, which can provide additional financial resources in retirement. You can have peace of mind knowing your family member is managing the care and upkeep of your family home.

Weigh All Costs Carefully

All of these options come with pros and cons, so it is important you do your research first to know where you are going next and what kind of budget you’ll need. Remember to factor in your moving costs as well. You should request quotes from multiple movers, and make sure you read through customer reviews before you settle on one. With the right research, you can have a clear understanding of your finances, all the way around.

For many seniors, downsizing isn’t just about a physical place; The Huffington Post notes that it’s an emotional, physical or mental process that asks us to be thoughtful and brave. Many seniors feel overwhelmed and confused about where to begin and where to go. What to do with your home is a decision you can make on your own or with your loved ones—those who have helped you make all those cherished memories.

HomeGirls
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Homesteading in Retirement: 3 House Hunting and Moving Tips

Not every senior wishes to downsize into a smaller home after retirement. For some, upsizing is a better choice — especially those who wish to pursue hobbies like homesteading, gardening, woodworking, or crafting. Plus, with a larger home comes more space for entertaining friends, kids, and grandkids for holidays and long weekends on the homestead.

With these three tips from the real estate professionals at HomeGirls Property Solutions, seniors will learn how to find the perfect property for homesteading in retirement — and plan a hassle-free move into their new home. Now, let’s get started!

1. Make a House Hunting Checklist

If you plan to pursue homesteading in retirement, you’ll need to find the right home and land for living, entertaining, growing food, raising animals, foraging, sewing, and any other types of homesteading activities you wish to engage in. As such, it’s important to begin the process by making a house hunting checklist that can be used during your housing search.

Depending on the types of activities you’d like to explore in retirement, your house hunting checklist may include:

  • Land for raising animals, growing food, and composting.
  • Spare bedrooms and bathrooms for hosting your friends and family.
  • Outdoor space for building a storage shed.
  • One or more bonus rooms (e.g. playrooms, workshops, or craft rooms).
  • Office space for starting a home-based business in retirement.
  • Ample kitchen space for cooking, canning, baking, and home brewing.

2. Find a Mortgage Lender and Real Estate Agent

Once you’ve made a house hunting checklist, it’ll be time to shop around for a mortgage and hire a real estate agent. The experienced real estate professionals at HomeGirls Property Solutions can help with everything from selling your existing house to finding the perfect property for homesteading in retirement, so be sure to contact them at 214-676-1085 once you’re ready to get started. You can also check out websites like LandWatch, Land and Farm, and Lands of America if you wish to purchase land for homesteading.

In addition to working with a real estate agent, you’ll need to shop around for a mortgage if you plan on financing your home purchase. To help you do it, the Federal Trade Commission (FTC) shares some tips for getting the best mortgage interest rate and calculating the amount of your down payment. You can also use SmartAsset’s online calculator to get an idea of how much you can afford to spend on your home purchase. Typically, this amount will depend on your retirement income, credit score, monthly expenses, and total down payment.

3. Settle Into Your New Home

If it’s been awhile since you’ve moved into a new home, you may have forgotten all the different tasks that need to be completed before, during, and a move. For starters, you’ll need to set up utilities in your new home — including electricity, natural gas, and water, sewer, and trash. Start by comparing local utility providers several weeks in advance, and aim to set up your new utilities at least 10 days prior to your move.

If you plan on generating your own power, you’ll want to explore your alternative energy options before moving into your new home. Solar power, wind turbines, and geothermal power are a few viable options for homeowners. You may be able to harvest and harness rainwater as well, depending on where you live.

You’ll also need to research internet service providers in your area — unless you plan on living off-grid. 5G Ultra Wideband is available in many cities and just outside those cities throughout the U.S., offering you lightning-fast speeds and reliable internet coverage no matter where you live. However, it’s important to compare prices, speeds, and service options when shopping around for internet providers near you. 

Enjoy Your New Home

Once you’ve settled into your new home, you can enjoy the best of your Golden Years while living off the land, hosting your kids and grandkids for long weekends and holidays, and pursuing new hobbies in retirement. Upsizing isn’t the right decision for all retirees, but it’ll be perfect for you if you’re looking for more indoor and outdoor space for entertaining, gardening, woodworking, and enjoying other types of homesteading hobbies and crafts.

Are you interested in buying or selling a home in retirement? Contact the real estate experts at HomeGirls Property Solutions for all your home buying and selling needs! 214-676-1085; info@homegirlsproperties.com