If you are looking to purchase a home with a lot of acreages, you are more than likely looking to purchase a rural home. When it comes to purchasing a rural home versus one in a city or suburban neighborhood, there are a few things you will want to keep in mind.
1. Get the Right Real Estate Agent
First, you will want to look for a real estate agent who has experience selling rural homes or homes with acreage. Some different rules and regulations come with buying a home with acreage, which is why you are going to want to work with a real estate agent who understands those rules and regulations.
For example, you may have to sign documentation stating you understand you are buying a home in an agricultural area and the type of arming activity noise you will be exposed to. Or you may need to get a septic system inspection before buying the home. There are often different steps in the home buying process when purchasing a home with acreage, and you need an agent who can walk you through those steps.
2. Understand Your Financing Options
Second, you are going to want to understand your financing options. If you are interested in purchasing a rural home, you may qualify for different financing options that are specifically targeted at people buying a rural home. The United States Department of Agriculture (USDA) offers favorable mortgages that are popular among buyers of rural homes.
3. Know-How Much Land You Want
Third, you are going to want to determine how much land you want. Do you want five acres of land, or do you want fifty acres of land? Both options will provide you with lots of acreages, but the difference in owning five acres of land versus fifty acres is huge.
You need to consider how you will use the land and how you will take care of the land. Perhaps you want to own some woodlands that are your own. Or maybe you are looking for cleared land, where you can plant food and run a hobby farm. It is essential to know what type of land you want and how much of it you want. Developed land is going to cost you more than undeveloped land.
4. Consider Utility Access
Finally, you need to consider what type of utility access you need and want. Many rural homes have their own septic system and well. You may not have an option to connect to a natural gas pipeline and will have to add a gas storage tank if you want to use natural gas or propane as a fuel source for the home. You should also find out what type of internet access you have on the property, especially if you work from home.
If you're ready to buy a home with acreage, reach out to real estate agents.
