Rural Real Estate – Essential Considerations
There are lots of people out there who dream of living in the countryside. They believe that living out in a rural area brings a lot more benefits than living in towns or cities. For instance, there is a lot less air and noise pollution. The pace of life is a lot slower than in a busy city, and many people who live in rural areas suffer considerable less stress as a result. You will also be closer to many outdoor pursuits, such as hiking and mountain biking. Because of this, many families believe that a life in the country will be a big advantage to their kids.
But is the grass always greener out in the countryside? Well, this is what you need to weigh up when it comes to buying a house in a rural location. Here are a few pointers that can help you decide whether rural real estate really is the best option for you.
Why Are You Going Rural?
Of course, the first thing you need to do is consider why you want to move to the country in the first place. It’s worth writing down the pros and cons of doing so. This can then show you whether the move will have a positive or negative impact on your family. Remember that simply being tired of the busy city probably isn’t a good enough reason to move. You need to list your priorities along with all the pros and cons. All of this information in front of you should show you whether it’s a good decision or not.
Think About The Type Of Community You Want To Live In
There are a lot of different communities in rural regions. From farming towns to areas of mainly lake homes, there is certainly a good choice. So, you just need to narrow down all of these different options to figure out where you want to live. If you still want to be close to neighbors and be part of a community, then a village might be best. However, if you do want to get away from it all, then you might be happier in a remote location. But that could bring its own set of problems. After all, you might need to drive a long time to get to work and the closes amenities.
Hunt For Neighborhood Insight
Whenever you move to a new area, it is important to research the neighborhoods. This will then give you a good idea about which is the best one for your family. The research will also highlight any areas that have a high crime problem. You’ll then know not to look for any real estate in those, as it could put your family in danger. However, you might struggle to find any of this information when looking at a rural area or neighborhood. That’s because there is little information available online about them. The best way to find out about rural neighborhoods is to quiz real estate agents. The ones showing you around potential houses should have a good general knowledge of the area.
Consider Commute Times
Most people who buy country real estate will have it as a second home. Some will buy it to retire into. If you are planning on still working, though, you need to think how your new location will affect your job. If you are staying at your current company, you might face a long commute. If you want to find a new job, you need to remember that there are fewer open positions in the countryside. So, be sure to have a work plan in place before you decide to move out to the country.
New Builds May Be Hard To Find
If you would like to buy a new build, then perhaps moving to a rural location isn’t your best option. That is because there are very few new-build properties anywhere other than in cities and towns. There just isn’t a demand for them in the countryside. Plus, it can be difficult to get planning permission to build new homes in areas of natural beauty. So, if you are determined to move to the countryside, you might need to change your idea of the best property. Instead of going for a new build, you might have to stick with a period property. Don’t worry, though; period properties don’t always turn into investment nightmares. In fact, if you put in the time and effort to renovate the property, then you could get some big returns on your initial investment.
Check The Water System
Whenever you do look at a house in the country, you should ask the estate agent about the water system. That’s so you don’t end up with a nasty surprise when you move in! Some country homes still source their water from a natural spring or well. Obviously, if you move in without realizing this, it could become a big headache for you! That’s because the property will probably have a septic tank in place. This tank will require a lot of regular inspections. Over time, it will require a lot of effort to maintain it, and you will also be responsible to pay for any repairs to it. Generally speaking, it’s often easier to just buy a house that is connected to the mains water supply.
There Could Be A Tax Break
One of the biggest advantages of buying rural real estate is that you could receive a tax break. This largely depends on where exactly you want to move to. If you buy a property with lots of land, it will also depend on how you use it. If this sounds like the kind of real estate that you want, you should look for one with existing agriculture exemptions in place. This could then cut your tax bill by around $1000 dollars each year. That’s a huge saving that shouldn’t be sniffed at!
So, do you still think that you will still invest in some rural real estate?