7 Insider Tips to Buy a Rural Property
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Did you know there are many benefits to buying rural property? Rural properties often have lower crime rates, better schools, and more space. One of the best things about rural living is that it’s a way for people to escape from the rat race without leaving their home state. If you’re looking for an investment with low maintenance costs, lower taxes, and plenty of room to grow – then buy your next property in a rural area.
But let’s face it, buying rural property is not for the faint of heart. If you’re planning to purchase farmland or acreage in a remote location, there are many things to consider. To be satisfied with your final purchase, you need to follow some rural property buying tips, such as testing the air and water quality of the area, researching boundary lines, and zoning ordinances, and much more. For example, it’s important to know what kind of activities you are allowed to do on your land, such as hunting or running a farm.
7 Tips for Buying a Rural Property
If you’re looking to buy rural property, here are seven rural buying tips to help make your purchase successful and have an easier time.
1. Hire a Rural Realtor
The rural property market is booming in this area, and it can be challenging to find the perfect one for your needs. The key when looking at properties near a town or city versus those that are more remote from civilization is location. Seek out an agent with experience working on large estates who understands how to deal with difficult terrain and rugged country roads.
Hiring a rural realtor helps you decide on the best place, especially the residential property. If you are settling down away from everything but still want access to some conveniences like power lines, internet service providers (ISPs), grocery stores, and gas stations without driving all over creation just for everyday things, a little guidance will do.
Related: First-Time Home Buyer’s Guide
2. Find a Suitable Location, with Utilities
For many, rural living is an escape. If you’re looking for that getaway from city life and all the services it offers, this might be your spot. However, some areas are not just sparse and remote. They may also lack the basic amenities that we take for granted. If you have no intention of living off-grid or without cable TV, then it’s important to find an area with access to utilities like water service, phone services, and high-speed internet connections if possible.
3. Check for Infrastructure
It is a common misconception that rural life means being bored and stuck in the old days. However, many people are finding it to be just what they need for work-life balance and peace of mind. In addition, when you have access to good infrastructure such as good roads or schools nearby, then it can really feel like home. And when you have an area that offers security too, there’s no better combination.
There’s no doubt about it: Rural living may not be for everyone but if city hustle has been getting too much for you lately, take a closer look at some properties where there’s plenty of space!
Related: 7 Easy Ways to Save on Moving Expenses
4. Understand Codes and Restrictions
If you want to buy a rural property that could potentially get subdivided, it’s important to check the county laws and any potential extended territorial jurisdictions of surrounding municipalities.
You need to make sure there are no restrictions on the land before making a purchase. These can affect both your decision-making process as well as buyers in future years decisions.
5. Investigate Environmental Factors
Investigate the environmental factors of a beautiful, rural property before making your purchase. The presence of endangered species and contamination from previous landowners can significantly affect how much profit you’ll make off selling it in the future, if at all.
6. Research the Market Prices
With the prices increasing, some sellers are trying to take advantage of it by pricing their properties higher than their worth. But don’t just trust a listing price; check with your county appraisal district or local MLS for an accurate valuation and make sure you know the market value before committing.
Related: 11 Tips for Finding Great Real Estate Deals
7. Detail What’s Included in the Sale
Whether it’s for a new construction project or that latest livestock addition, you’ll be glad to know how many of the essentials are included in your land purchase. Ensure you include all things but not limited to fencing and fence posts, portable sheds, cattle panels, bridges, feeding devices such as feeders and benches.
Have you been looking for a rural property but don’t know where to start? This blog post is full of insider tips from people who have bought and sold properties in the country. We’ve discussed some valuable tips like information on how to hire a rural realtor, finding a suitable location with utilities, understanding codes, and restrictions, investigating environmental factors like proximity to lakes or rivers as well as researching market prices.
The last tip details what’s included in the sale so that buyers can figure out if they are getting everything they need before making an offer.
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