Is a Rural Retirement Right for You?

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b of a is the devil

texas of TX 6:07PM May 10, 2012

Rural retirement is the way to go. The 50+ places are all about rules, rules, and more rules. You have to "community" garden, limit pets, no food/booze allowed by the pool and in many places you can't even BBQ in your own back yard. Apparently, my fellow "boomers" realized the world doesn't revolve around them so they've resorted to petty . My idea of a good time is lounging by the pool all day drinking Margaritas and listening to Jimmy Buffet. I thought pot lucks went away in the 60's but apparently, they're still popular (yawn). Also, the homes are too close together to crank up the boom box to play Led Zep/Pink Floyd/Stones at full volume. I'm not interested in pictures/stories of your kids/grand kids. I'd rather live in the Arctic Circle. BTW, whatever happened to

chessie of VA 5:01AM April 25, 2012

retireing in the county is much more relaxing you dont have to put up with bad neighbors and their pets and children. you can mow your yard or go fishing and mow later the privacy is the best part of retiring in the country. we live on 40 acres our closest neighbor is a quarter mile each way. i retired october 2011.

joe walls of AR 9:00PM April 23, 2012

And then there is the Piscataquis Village Project proposal. You can have the best of both town and country in the planned micropolis.

Piscataquis Village Project of ME 9:24AM April 14, 2012

I have approximately 112 acres in Marengo, county alabama. All high ground. About 3000 feet of highway frontage. County water system. $2200.00 per acre. Located about 12 miles from Thomasville, alabama.

Clyde Sheffield of AL 3:06AM April 12, 2012

It is always nice to read an article that quotes United Country’s CEO Dan Duffy. Notwithstanding, he is correct in that farm values are producing excellent returns, as are timberland investments. Curtis Seltzer’s point is also well taken. It takes some perseverance, but having the right person to find the right property can insure success. This can be none by finding a rural professional such as a forester or agricultural expert to help with proper soil selection. We do this all the time. In North Florida, we work with people who want a rural lifestyle that will bring them back to the land, and at the same time, is close to quality small town values and amenities. People can enjoy owning a mini-farm and, by living close to Gainesville, enjoy the benefits of a University town. We offer excellent weather, great farm product markets, and timber investments to preserve wealth. No wonder Money Mag ranked us its #1 Place to Live. What a great lifestyle! It can be done.

Jib A. Davidson of FL 3:31PM April 10, 2012

There is a 3 acre place halfway between KC & Denver on the western Kansas prairie that would be a wonderful place to retire. And you're right. The birds sing, pheasants crow and the garden is already planted. More people will be looking at this area for retirement as the winters are getting milder and there is plenty of sunshine. If you don't want to escape the city life entirely you're only 3 to 4 hours away for a weekend trip.

Mary Hendricks of KS 12:18PM March 29, 2012

In addition to relying on the expertise of a local Real Estate Broker, you also need to find a local lender, if needed. Our rural areas are not financed by large urban financial institutions - the mega-banks. We are financed by local bankers who live & work in our small communities, or regional ag credit systems, who understand the market and ag financing, and have weathered the ups & downs of our local agriculture scene. Your United Country office can help you with all of the details.

Chris King of IL 12:11PM March 29, 2012

ALL VERY NICE -- until one discovers that our Nation's leading financial institutions, like Bank of American, WILL NO LONGER FINANCE FARMS OR RUAL PARCELS wherein the land value exceeds the value of the residence by greater than 30%.
For example, if the residence is valued at $200,000; the surrounding land cannot be valued at greater than $60,000. Now ask yourself! How much of a farm are you likely to buy for $60,000?
I discovered this change in policy in 2010 when I attempted to refinance my farm's longstanding Merrill Lynch mortgage following BoA's acquisition of ML. And unlike much of existing rural land, my farm is situated within the jurisdiction of a high-end University town that has been named multiple times by the likes of MONEY Mag as its "#1 Place to Live."
In fact, my farm represents an exceptional investment in an exceptionally strong market, especially whereas it is also zoned for both reisdential and commercial development. Agricultural use is its lowest value, estimated at $85,000 per acre in mid-2011. Developed for commercial use it value is inestimable, at least 2-5 times its farm value.
In case you're as confused by BoA's new policy as I remain, try this on for size?
Unlike consumers who found themselves "under water" (debt exceeded property value), my property's values reportedly were eight times greater than the balance of my mortgage.
In other words, instead of my having a debt-to-equity ratio of, say, 10:1, mine was the reverse of those homeowners who had little equity entering the recessionary market; at 1:10. Meaning that my farm would have had to lose 90% of its then-current value for the mortgage balance to equal its equity.
Still didn't matter to BoA! Still couldn't refinance to get any money out -- because it own farmland that far exceeds the value of my home and other farm structures. Go figure!
So, needless to say, I was disappointed that this aspect of financing a rural lifestyle wasn't addressed by this author.

marilyn Kille of NC 8:39PM March 28, 2012

Rural "retirement" to the mini-ranch or mini-farm only works if the state or county you move to gives you lower agricultural or ranching property-tax status. Thanks to revenue-hungry state legislatures (witness 2011's passage of HB 1146 in Colorado) and insatiable county assessors, these property-tax categories are fast going the way of the dinosaur.

SqueezedOut of CO 1:59PM March 28, 2012