For many homebuyers, an acreage property is the ultimate goal. For some, it’s the quiet and space from neighbours and city noise. For others, the chance to keep animals or practice hobbies on a larger scale is the draw. If you’ve considered a move to the country, check out the five points below to help determine if acreage life is for you!
Find an agent that specializes in rural real estate:
Buying a rural property comes with a unique set of challenges that differ greatly from a residential purchase in town. There are many things to consider when moving to an acreage, for this reason it is important to have a professional that specializes in this type of real estate helping you through the process. Knowing the right questions to ask and where to find the answers is the best way to avoid unpleasant surprises in the future.
Financing
Financing for an acreage is going to look substantially different than an in-town purchase. As an example, banks tend to lend on the house and a certain number of acres. Because outbuildings and additional acres would not be considered on an appraisal, the added value must be covered by the buyers in addition to the down payment. Some exceptions to this rule apply, and our team has the experience to help you navigate these questions.
Country Life vs. City Life:
Consider the lifestyle you and your family want to live. A significant pro could be that you will enjoy the peace and quiet in the country with room for hobbies like gardening and keeping animals, space for your children and pets to play, and privacy from neighbours.
However, a con may be the additional drive time for extracurriculars, work, and school. A lot of your free time on the weekends will be consumed by yard maintenance and snow removal. If you love going to the lake or camping on the weekends, acreage life might not be for you.
Additional Costs:
Speaking of maintenance, be prepared to purchase adequate equipment for your new property. In some situations, it’s enough to own a small lawn tractor, providing that you purchase the proper implements for snow removal. Maintaining your well and septic system may add additional costs as well, especially with an older system.
Zoning Regulations:
Although a property in the country typically affords more freedom to owners, there are still rules and limitations to what the land can be used for and what type of structures built. This differs greatly depending on zoning, and even from county to county. An experienced agent can help you navigate these bylaws in your search for the perfect property.
Bearing all this in mind, do you think acreage life could be for you? If you’re ready to begin your search, our team is ready to help!