11 REASONS TO CONSIDER RETIRING INT HE COUNTRY

 

Retirement is a big step and for most of us and it opens up a lot of possibilities. Retiring to the country is a great step in the right direction in allowing you to enhance your lifestyle, rather than diminish it. Here are some strong reasons to consider retiring rural. 

With better health care and the lengthening of life spans for the average person, it is inconceivable that we should not plan for a full and enjoyable life. Retirement is not a time for doing nothing, but it is a time to enjoy some of the exciting things, that perhaps, we did not have time for along the way. Retiring to a rural setting is one way to enhance our lifestyle and experience nature more.

TIME AND SPACE FOR CREATIVE PURSUITS

1. Improved opportunities for gardening.

Those who enjoy the challenge of gardening, whether ornamental or vegetables, will find that space might not be as restrictive on rural acreage. Ornamentals can add immensely to your property and vegetable gardens will provide nutritious meals, reserved food supplies and great exercise.

As an added bonus, gardening has been linked to increased longevity, reduced incidence of heart disease, enhanced happiness and mood, and much more. 

2. Outdoor activities such as hiking, hunting, fishing and similar pursuits are more readily available. 

For example, retiring on a lake property would allow access to boating, kayaking, swimming and fishing. Those with larger properties manage wildlife for better hunting opportunities. And even if you choose a smaller parcel of land, you’ll likely be a short drive, or hike, away from a variety of public recreational opportunities.

3. Rural living provides the chance to create the yard/property of your dreams.

The addition of trees, shrubs, fruiting vines (grapes and other berries) and other additions not possible in an urban setting.

LIFESTYLE ADVANTAGES

4. You won’t waste your precious retirement years contending with the traffic and congestion of city living.

Just imagine all the time you could get back for more meaningful things...not to mention less wear, tear and mileage on your automobile!

5. You’ll get to enjoy the quiet, peaceful atmosphere that nature supports.

Coincidentally, living close to nature has a variety of health benefits, from enhancing immunity to reducing stress and even improving your eyesight! 

6. As the tempo of life slows down, it allows us to pursue some of the things that we ‘always wanted to do’.

This might include writing a novel or volume of poetry, expanding our knowledge of photography or some similar pursuit...and a beautiful rural backdrop provides the perfect quiet setting.

This is also a good time for avid readers to indulge in reading of favorite novels or topics. 

7. Retirement allows more time to expand your involvement in hobbies of interest. 

This could include fly tying, woodworking, needle-work, horticulture or any number of interesting skills. Horticulture is another example of a hobby that would be greatly enhanced by living in a rural environment with increased space available for a greenhouse, garden, etc.

If you love animals, rural acreage provides endless opportunities to expand beyond house-pets to chickens, ducks, horses and other livestock (many of which can be enjoyed as hobbies and used to generate income).

FINANCIAL BENEFITS

8. Potentially lower taxes.

Extensive research prior to retiring might reveal that buying a country home in certain areas may lower your rate of taxation. There are many tax benefits available to rural land owners, from ag credits to homestead credits and even perks for placing acreage in conservation, so be sure to talk to a tax professional who’s familiar with the tax laws in your area.

9. More Bang for Your Real Estate Buck.

Research might also reveal that property values vary widely by location and certain areas and tracts of land might allow more ‘bang for your buck’.

Rural land tends to be less expensive, and if you plan on building a home to downsize, etc. you’ll have a lot more flexibility with design than you would in an urban or suburban setting (tiny homes, earth sheltered homes, barndominiums, kit home, etc.).

10. Little savings add up.

Other savings may include cost savings on sewer and water charges by having a septic system and private well...these cost savings may seem small but can really add up for those on a fixed income. Depending on the area, there might be savings opportunities by using solar or wind to generate energy. Be sure to check zoning regulations prior to purchasing.

CREATING A LEGACY

11. A rural setting often offers an attractive setting for visits by children or grandchildren.

The savings of being in a rural area might allow for the creation of a home setting that would be more appealing to the extended family.

By going rural, you have a unique opportunity to create a legacy for the family as a place with good memories that will be cherished and hopefully passed onto future generations.

There is a great quote that comes to mind, “The best time to plant a tree is 20 years ago. The next best time is today.” 

The same could be said of planning for retirement. Finding the right rural location may require some legwork, but now is the time to start thinking about tomorrow.  Give the Rural KC Team-Keller Williams Partners a call.  We can help you find the perfect rural property.  913-837-0760 or 913-837-0411.  Or go to www.ruralkc.com.  

Have a great day!

A LANDOWNERS GUIDE TO CONSERVATION EASEMENTS

Recently, American public lands have garnered attention across the media. For someone that lives in an urban setting, the idea that public lands exist gives them hope for nature and wildlife in our country.

What has not received as much attention is the colossal participation of private landowners into conserving and protecting landscapes and ecosystems across the country.

A UC-Berkeley Researcher, Luke Macaulay, recently published a paper shining a bright light on the importance of private lands in the US.

Macaulay found that 440 million acres of private land in the country is used for wildlife-associated recreation.

For those that have lived in the suburban/rural interface, you have seen family farms transformed into neighborhoods.

Thankfully, there is a way to encourage land conservation for private landholders that benefits both the wildlife and land owners. 

Doug Saunders is the CEO of Heritage Preservation Trust, a 501(c)(3) non-profit organization, that focuses on conservation. The main vehicle they use for their purpose is Conservation Easements. To date, Heritage Preservation Trust has helped protect over 20,000 acres across the Southeast.

“Conservation Easements place a permanent protection on a property’s conservation value”, says Saunders. This means that your piece of property will always be a site of conservation, not a neighborhood or factory.

Why would a landowner want to do go through with an easement and lose possible future profit? Saunders explained, “The Federal government has incentivized Conservation Easements. The landowner receives a tax deduction based on their land’s conservation value.”

Up to 50% of your Adjusted Gross Income (AGI) can be deducted with credits from a conservation easement.

Some land has more conservation falue than others.

An undeveloped 10-acre property in the Atlanta city limits will have a higher conservation value than a 10-acre piece in a rural county with many acres of undeveloped land.

Also, having a rare plant or animal species will also increase the land’s conservation value.

The Federal Government has decided that this is an inexpensive way to preserve habitat, promote conservation, and help North American wildlife populations.

Just because land is in an easement does not mean it can't be managed.

Wildlife managers agree that nature needs disturbances. Whether those disturbances are wildfire, prescribed fire, farming practices, or timber management, they all create great habitat conditions for many species of wildlife.

Saunders says, “Working lands can remain working lands”. The limitations on the easements can still allow land use to continue. Putting a conservation easement on a property has the ability to preserve a landscape for perpetuity in a time of urban sprawl.

Many states have free programs that will help landowners design and improve their landscapes to attract, nurture and preserve wildlife and native plants.

For landowners and prospective landowners, Conservation Easements should be considered for your land. If your property meets one of four criteria in IRS code 170 H, it can be a possible conservation easement. Private Landowners are an integral part of conservation in America. Conservation cannot happen only on public lands, but with private partnership, wild lands and wild places can continue to exist for generations to come.

We hope you enjoyed this blog article.  Please feel free to contact Bill Gaughan or Danicia Duncan with the Rural KC Team-Keller Williams Partners if you are interested in buying or selling rural property.  Have a great day!

WHAT YOU SHOULD KNOW ABOUT CLOSING COSTS

 Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for.

What Are Closing Costs?

People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate: 

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

In other words, your closing costs are a collection of fees and payments involved with your transaction. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

• Government recording costs
• Appraisal fees
• Credit report fees
• Lender origination fees
• Title services
• Tax service fees
• Survey fees
• Attorney fees
• Underwriting Fees

How Much Will You Need To Budget for Closing Costs?

Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical, too. According to the Freddie Mac article mentioned above, the costs to close are typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to cover your closing costs.

Let’s say you find a home you want to purchase for the median price of $366,900. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,500 and $18,500.

Keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

What’s the Best Way To Make Sure You’re Prepared at Closing Time?

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

Work with a team of trusted real estate professionals to understand exactly how much you’ll need to budget for closing costs. An agent can help connect you with a lender, and together your expert team can answer any questions you might have.

Bottom Line

It’s important to plan for the fees and payments you’ll be responsible for at closing. Work with a local real estate professional who can help you feel confident throughout the process.  The Rural KC Team-Keller Williams Partners can help you throughout the whole closing process.  Give us a call today.  913-837-0760 or 913-837-0411.

WHY IT MAKES SENSE TO MOVE BEFORE SPRING

 

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Spring Should Bring a Wave of Buyers to the Market

In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you’re in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:

“. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”

If you’re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.

Today’s Sellers Are Motivated

Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes:

“. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”

But keep in mind, the advantages buyers have this winter won’t last forever. The competition you face could be greater if you wait until spring to make a move, and increased buyer demand means sellers will have less motivation to negotiate with you. Be sure to work with a trusted real estate professional to learn what you can expect in your local market right now.

Bottom Line

If you’re in a position to buy a home, it may make sense to move before spring. Working with the Rural KC Team-Keller Williams Partners is the best way to learn about the current market and what it means for you. Connect with us  today to determine the best plan to achieve your homebuying goals.  

EXPERTS FORECAST A TURNAROUND IN THE HOUSING MARKET IN 2023

The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pickup. All of that’s great news for the housing market this year. Here’s what experts are saying.

Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:

“The current state of the housing market is that it is certainly in transition." 

Susan Wachter, Professor of Real Estate and Finance, University of Pennsylvania’s Wharton School:

“Housing is going to ease up. I think 2023 will be a turnaround year."

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“Mortgage rates have fallen in the recent past weeks, so I’m very hopeful that the worst in home sales is probably coming to an end." 

Robert Dietz, Chief Economist and Senior Vice President, National Association of Home Builders (NAHB):

“. . .it appears a turning point for housing lies ahead.  In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.”

Bottom Line

If you’re thinking about making a move this year, a turnaround in the housing market could be exactly what you’ve been waiting for. Work with The Rural KC Team-Keller Williams Partners real estate professionals to learn about the latest trends in your area.

PRE-APPROVAL IN 2023: WHAT YOU NEED TO KNOW

 One of the first steps in your home-buying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

“In a preapproval [sic], the lender tells you which types of loans you may be eligible to take you, how much you may be approved to borrow, and what your rate could be." 

Basically, pre-approval gives you critical information about the home-buying process that’ll help you understand your options and what you may be able to borrow.

How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important.

Pre-Approval Helps Show You’re a Serious Buyer

Another added benefit is pre-approval can help a seller feel more confident in your offer because it shows you’re serious about buying their house. A recent article from Forbes notes:

“From the seller’s perspective, a preapproval [sic] letter from a reputable local lender often can make the difference between accepting and rejecting an offer."

This goes to show, even though you may not face the intense bidding wars you saw if you tried to buy during the pandemic, pre-approval is still an important part of making a strong offer. In fact, Christy Bieber, Personal Finance Writer at The Motley Fool explains it may be the most important part of making an offer:

“Pre-approval maximizes the chances you’ll be able to actually close the deal-and sellers want to see that. 

The fact that a pre-approval gives you a better chance of getting your offer accepted is undoubtedly the most important reason to complete this step..." 

Bottom Line

Getting pre-approved is an important first step toward buying a home. It lets you know what you can borrow and shows sellers you’re serious about purchasing their home. Connect with the Rural KC Team-Keller Williams Partners and a trusted lender so you have the tools you need to purchase a home in today’s market.  913-837-0760 or 913-837-0411, or Bill@ruralkc.com or Danicia@ruralkc.com.  We have a list of several great lenders on our "Resource" page of the website.WWW.RURALKC.COM. 

KEY TERMS TO KNOW WHEN BUYING A HOME

Some Highlights

• Buying rural property is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process.
• If you’re looking to become a rural property owner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the home-buying process.
• Work with a trusted real estate agent, The Rural KC Team-Keller Williams Partners, who can answer any questions as they come up.  913-837-0760 or 913-837-0411. RURALKC.COM

Maintaining Your Horse’s Weight During the Winter

I have the easiest keeper in the barn. He lives out 24/7 on the grass with free-choice hay as needed and is fed only a ration balancer. Now that winter is officially here and the grass is sparse, should I be feeding more than just a ration balancer? Does he need more calories to stay warm?

This is a common question I think many owners with easy keepers have this time of year. With us hunkering down during miserable weather, enjoying warm drinks, log fires, and winter food, it’s easy to feel like we should be feeding our horses out in the elements more, too. Certainly, some horses struggle at this time of year to maintain their condition and will need more calories, while others will burn more calories but might not need to be fed more. The extra calorie burn in these horses can be a useful weight management tool.

Knowing whether your horse needs extra calories is best determined by assessing the condition. This can be hard during the winter in an outdoor kept horse that might have a full winter coat or be bundled up under blankets, but I would encourage you to not only look at your horse but put your hands on him too. A winter coat can make a horse appear to be carrying more weight than he is, only to result in a nasty shock when he starts shedding out! Familiarize yourself with the 1-to-9 Henneke body condition scoring scale, and then run your hands over the six areas described (the crest of the neck, withers, behind the shoulder, across the rib cage, over the back in the loin area, and the tailhead). Do this every week or two to monitor condition changes over time and catch weight gains and losses quickly before they become problems.

Your horse will be burning more calories to stay warm in colder weather, especially if not blanketed. Whether this is a problem depends on his starting condition. If he came into winter a little overweight, the extra calorie burn can be a useful tool for weight reduction, especially in an easy keeper that may struggle with weight regulation the rest of the year. In fact, not allowing a horse that came into winter a little heavy to lose weight before spring can potentially set him up for compounded weight gain when he has access to pasture again. Over time this can lead to health issues.

On the other hand, if you have managed your horse’s weight well over the summer and, into the autumn, and he came into winter at an ideal weight, then additional weight loss would not be warranted. Therefore, it’s important to know where you currently stand. If he starts to become a little too light in condition, then I would recommend some additional calories during the cold weather.

For an easy keeper, calories are best added by feeding more hay. This is true for most horses in cold weather- not just easy keepers- because the fermentation process necessary for them to digest hay has the added benefit of generating heat that will help keep them warm. Feeding a few extra pounds of hay a day should provide the calories needed to make up for those lost keeping warm.

When monitoring weather conditions to determine if more hay might be needed, keep in mind that horses can struggle to maintain warmth more during wet weather than in dry cold weather if they get wet down to their skin.

By monitoring body condition throughout the winter, you can adjust your feeding program to ensure your horse reaches spring at a good weight. Do not be afraid to allow some weight loss as needed, and remember that horses evolved gaining and losing weight through the seasons. It is our job as managers to keep that fluctuation within an acceptable range, which for me is between a 4.5 and a 6 on Henneke body condition scoring scale.

FINANCIAL FUNDEMENTALS FOR FIRST TIME HOME BUYERS

 

Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home.

Build Your Credit

Your credit is one element that helps determine which home loan you’ll qualify for. It also impacts your mortgage interest rate. While there are many factors that go into your mortgage application, a higher credit score could lead to a lower monthly payment in the long run.

So how do you make sure your credit is in the best shape possible when it’s time to buy? A recent article from NerdWallet lists a few tips you can use as you work to build and strengthen your credit. They include:

• Tracking your credit and disputing any errors that show up on your reports.
• Paying your bills on time. This includes making loan payments and paying down any open lines of credit.
• Keeping your credit card balances low. Paying more than your minimum monthly balance when you’re able can help.

Automate Your Savings for Your House Fund

You might also be wondering how you can achieve your down payment savings goals. Bankrate provides buyers with a number of tips to help you save, including searching for down payment assistance programs and ways you can save more, faster. As the article says:

“One of the best ways to save for anything — including a down payment — is to set it and forget it. If you receive a regular paycheck, ask your employer to direct a portion of that payment into a savings account. If you’re a freelance worker or independent contractor, set up a recurring transfer from a checking account to a savings account to establish the routine.”

Get Pre-Approved

As you prepare for your purchase, you’ll also need to have a good grasp on your budget and how much you’ll be able to borrow for your home loan. That’s where the pre-approval process comes in.

Pre-approval from a lender lets you know how much money you can borrow for your home loan. And having that knowledge, plus an understanding of your savings, can help you decide on your target price range for a house.

From there, you can start browsing for houses online and see what’s available in your area in that general price point. This can help you really understand your options so you can start to picture your future home.

For Customized Advice, Build a Team of Professionals

Finally, the best way to make you’re prepared for your purchase is to connect with trusted real estate professionals. Having expert advisors in the industry will help you make strong decisions throughout the homebuying process based on your specific goals, finances, and situation. They know the market and can guide you toward the home of your dreams.

Bottom Line

If you’re ready to get the homebuying process started, connect The Rural KC Team-Keller Williams Partners to begin building your team of professionals today.  Go to our awesome website to begin your search. www.ruralkc.com