Author Box
Articles Categories
All Categories
Articles Resources

Things to Remember When Buying Rural Real Estate

March 20, 2012 | Comments: 0 | Views: 71

Purchasing real estate of any kind requires you to weigh up a multitude of factors before deciding to go ahead with it. This decision making process becomes even more complicated when you are looking to buy rural land. Many of the same variables are in play, such as what you want to get out the property and its potential for future growth; but they have to be looked at in a different context. Here are a few of the most important things to keep in mind when considering whether to buy in a rural setting.

Is This Intended as an Investment or a Permanent Homestead?

Know why you are buying the land. In many cases the distinction between whether you wish to own the property long term, or intend to on-sell it in the near future, can determine if it will be a good purchase for you. Even within the realm of investing, keep in mind what sort of timeframe you are looking at.

This is important for the simple reason that what makes a sound rural investment is often markedly different from what will make for a good lifestyle block. For example, a 10 acre section with cattle and a house that is long overdue for repairs may be a solid investment. There are assets included in the property, which given time and care could yield a tidy profit in the future. The same property would be less ideal for a family wishing to move out into the country and entirely unsuitable for an elderly couple looking to retire. Again, know what you want from your rural real estate purchase.

Is the Property Under or Over Valued?

This is something you would consider at all levels of the process, but for rural properties it takes on a whole new level of importance. The reason for this is that both the floor and ceiling, so to speak, on the potential valuation of rural real estate is usually much more varied then for urban properties.

If you can find a piece of potential farmland that is currently not being used to its full potential, it could make for an excellent investment provided you have the capital to develop it. On the flip side, a farm that is running extremely smoothly may have little room for growth, unless you are able to purchase the surrounding property as well and expand outwards. Look at rural real estate not for what it is, but for what it could become.

Is There Potential for Development?

The logical flow on of this point is a consideration of whether your desired piece of rural real estate is equipped to support your vision. Maybe the soil is partially barren? Maybe the type of grass is incompatible with livestock you wish to bring in? Is the property accessible enough to efficiently carry out repairs? With so many added variables, you really need to do your research on all aspects of the property if you are considering purchasing rural land. Fortunately, there are specialist firms out there who will be happy to help you with this process.

Find the latest New Zealand rural real estate listings at Century 21, delivering unmatched levels of service across 68 countries and territories.

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Rural Real Estate New Zealand

The documents are inevitable to assess your age, income, employment and residence. For the loan to be petitioned from the bank, you need the right procedure of application.The documents are

By: Simon Liva l Real Estate > Buying l November 20, 2012 lViews: 258

The main reason why people tend to be apprehensive about moving homes is that it entails packing everything in the home, transporting it and then unpacking it in the new home. The entire process of

By: Ringo Star l Real Estate > Moving Relocating l October 27, 2012 lViews: 211

There are a number of benefits to owning a second home. Buying to let is a long term investment. The property will usually accumulate value over time and also can generate rent on a shorter term

By: Alan Trotter l Real Estate > Investing in Real Estate l October 19, 2012 lViews: 241

Building a home, especially your first one, can be an incredibly daunting task - there are a number of factors, including budget and planning, that must be taken into account before any sort of

By: John K. Taylor l Real Estate > Building a Home l July 10, 2012 lViews: 333

When you're ready to sell your house, the first thing you'll probably do is find a real estate agent to help you through the process. It can be so inviting to seek out the discount Realtors who offer

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 263

You see the signs everywhere, especially in a strong economy: For Sale By Owner. For some reason, many people believe they'll do a better job of selling their homes without the assistance of a real

By: W Josh Anderson l Real Estate > Selling l July 10, 2012 lViews: 242

An article offering some top tips on investing in land and property in Brazil. Specific focus is given to legal requirements in order to avoid making costly mistakes.

By: Waseem Saddiquel Real Estate > Landl June 27, 2012 lViews: 247

If you are looking to invest in land for sale, take some time to research the property before you buy it. Read on to learn more.

By: Ace Abbeyl Real Estate > Landl June 22, 2012 lViews: 154

It can be exciting to look for land for sale to build a home on. Here are some important considerations for the land you choose.

By: Aloysius Aucoinl Real Estate > Landl June 20, 2012 lViews: 173

People always ask me why I don't focus more on buying and flipping homes rather than buying and flipping land? For me, the answer is simple.

By: Mark Podolskyl Real Estate > Landl June 13, 2012 lViews: 184

Before venturing out to look for a 'development site' it is important to do some homework. As we have seen you first need to decide which real property development market you'd like to try your hand

By: Ross Vocil Real Estate > Landl June 13, 2012 lViews: 172

Let's take a look at some of the risks of property development. Undertaking your first property development project is more demanding and involves more risk than buying your first investment property.

By: Ross Vocil Real Estate > Landl June 12, 2012 lViews: 191

Discuss this Article

comments powered by Disqus