Image via Unsplash

For many retirees, the golden age is a great time to pursue hobbies that were on the backburner during your years at work. If your hobbies are centered around homesteading pursuits such as gardening, buying a bigger home with lots of yard space is a great idea. You’ll be able to host your kids and grandkids if you invest in a larger house, and you’ll have extra space to pursue your passions.

“Rightsizing” instead of downsizing

While the tradition for many retirees is to downsize and declutter, a new trend is emerging for the golden agers: it’s called “rightsizing,” and it means finding a home that fits your needs.

Rightsizing allows retirees to pursue passions that inspire and motivate. Homesteading can encompass a number of various hobbies, whether it’s starting a garden, raising chickens, or pursuing an art such as pottery. For some, that may mean buying a home with more land that can be turned into a garden or chicken coop. For others, finding a home with spare bedrooms is key.

While downsizing is all about reducing clutter, rightsizing means holding onto items that are important to you without feeling like you have to throw your keepsakes away. Find creative and attractive storage solutions for items you want to hold onto and label them clearly so you can find them later.

Another part of rightsizing is considering whether you’ll frequently have family coming to visit. For many retirees, spending time with grandkids is vital, so you should incorporate that into your goals for a new home. Come up with some fun ideas for when your grandkids come to visit, and they’ll be begging to go to your house on every school holiday.

Finding the right home

As you envision your dream retirement home, it might be useful to write down elements of what’s non-negotiable for you. Once you know what’s important—extra bedrooms, a large backyard, storage shed, or barn, for example—you can start working with a trusted real estate agent who can help find homes based on your desires.

Keep in mind that it might be a sobering process because there will always be compromises. Understand what you can reasonably afford, and be sure to only look at homes that are within your means.

Getting a mortgage

When you’ve decided it’s time to find a new home, look into mortgage options for your purchase. Depending on your financial situation, there are different loan options, so do some research before committing. Some of the various financing types include conventional, FHA, and VA loans. Buyers who have good credit will typically opt for a conventional loan because the rates are typically more favorable, and there will be fewer extra costs.

Once you’ve decided on a mortgage type, look for a mortgage lender that provides all types of home loans. A PennyMac mortgage, for example, is a good choice for most, as they provide a wide array of home loans that suit nearly any home buyer.

Making your move

Moving is a huge process. Not only are you packing up your whole life in boxes, but you’re also setting up in a new place. In order to make your move safe and enjoyable, find a reliable moving company to help you. The last thing you want is to become injured while picking up heavy boxes, so let a trustworthy moving company do it for you.

If you’re a retiree and you want to move to a home that’s more appropriate for your lifestyle and hobbies, consider rightsizing to enjoy your golden years. Find a home within your means that can satisfy your hobbies and passions, and work with a lender to find the right mortgage for you. Hire movers when the big day comes, and enjoy the freedom and simplicity of focusing on your creative pursuits as you age.