Your Dream of a Homesteading Retirement Business is Possible

Do you dream of a retirement involving a large, productive garden and some chickens pecking around the yard? That dream can become a reality, even if your current home and land arrangement isn’t equipped for such things.

If your version of the American retirement dream involves a homesteading business, it may be worthwhile to purchase a larger home with enough land to accommodate animals and crops.

Getting started can feel daunting, but you can be in your new home and see your dream become a reality before you know it.

How to Get Started

As you begin your journey toward a homesteading business and purchasing a new home, there are some decisions to make that will help you determine what to look for. Think of the three S’s:

• Scale of your business (to help determine the acreage you will need).
• Square footage of your dream home (considering space for family to visit, a playroom, workshop, entertaining guests, and an office for your subsistence farming business).
• Spending plan (consider the amount of money you have available to purchase a new home and staying within budget).

Finding an affordable home with adequate land may be easier than you think. Homes that may require a few repairs are a way to get an ideal property at a lower price. If you research the cost of a roof repair, for example, deduct that from your offer on a property.

Another option for an affordable home is to buy land and consider a modular or stick-built home. It may even be worthwhile to think about having a log cabin built from the trees on your own property to enjoy an even greater connection to the land.

When you have a plan for housing and an idea of the scale of homestead you’d like to develop, it is a good time to explore starting your business.

Starting Your Home Business

Any secure business starts with a plan. Create an overview of what you’d like to accomplish with your homesteading business. Are you interested in a subsistence farm wherein your gardening and animal assets primarily go back into feeding yourselves and family members, or are you also interested in selling your homesteading goods at a local farmer’s market?

If you dream of a homesteading business, investigate what sorts of crops will be profitable in your region, including animal products such as fresh eggs or goat milk. Perhaps you are interested in producing honey or establishing a maple syrup business. Often a variety of crops and animal products keep homesteading fun and interesting, and they offer a greater chance of hitting your stride within the marketplace.

Research and Plan

Start a list of necessary equipment for your homesteading business, pricing items as you go to get a ballpark figure of your expenses, and set up costs. Map out your ideal homesteading landscape, will it have raised beds, or a coop or two for ducks and chickens?

If you are pursuing homesteading as a business, it can be worthwhile to look at the benefits of starting a limited liability company (LLC). Establishing an LLC is a great way to protect your personal assets while following your dream of being a small business owner. Aside from offering limited liability, LLC status offers tax benefits, cuts down on paperwork demands, and offers greater business flexibility.

The rules of an LLC differ from state to state, so be sure to investigate the requirements where you live. Some people decide to hire a lawyer to do their LLC setup, but it is far cheaper to complete the process yourself or save the hassle and legwork by turning to a formation service like Zen Business.

Buying or building a new home and starting a homesteading business is a wonderful way to transition into retirement. Growing and selling your own vegetables and having animals to tend will reward you in ways you can only imagine, and it is well within reach.

Are you ready to upsize your home? Work with Affinity Group Mortgage to create a customized mortgage solution to meet your goals! (614) 505-5533