Tuesday, 7 March 2017

Things to Consider When Buying Rural Property

Things to Consider When Buying Rural Property

Home Buyers of today are very resilient and are starting to think outside of the box. Today's cities and towns are getting too busy and becoming less affordable for many home buyers. Home buyers are starting to consider buying rural property more now than ever. The following blog will outline what to expect when buying a rural property.

Access to amenities

The first thing to consider is how far from from amenities are you willing to be. Amenities such as stores, schools, hospitals, doctors etc. Living out in the country will mean no access to local transit so you will be relying heavily on your car. I recommend testing out distances for yourself as one of the initial stages of your rural property search. Contact the local school board and also find out about school bus schedules and distances from the nearest school.

Do your research

In research I mean check with your agent, seller, municipality on any future developments. These could include gravel pits( dump trucks,noise) chicken farms(unpleasant odour) lots that's that have applied to be subdivided.  Do your due diligence and confirm there is nothing that may affect your standard of living or resale value.

Property Maintenance

Rural lot sizes aren't like your typical city/town size. You won't be seeing any postage stamp lots like 50' x 100' in the country. Most likely you'll be looking at at least an acre or more. With this comes more time consuming maintenance of the grounds. Make sure to factor in costs of lawn tractors, snow blowers and any other maintenance equipment you may need.

Resale of a rural property

When coming to sell your home in the future you may have a harder time. The buyer pool for rural buyers compared to city buyers is much smaller so allow for at least 3 months for a successful sale. Some of the comforts offered to city dwellers still aren't available to rural residents. Reliable high speed internet is one of these issues. Xplornet offers rural high speed but comes at higher cost and is not as fast. Heating costs also is an issue as natural gas availability is scarce in rural areas. With hydro rates as high as they are especially in Ontario be sure to check the heat source and ask the seller to supply all utility bills before making any offer.

To check out local real estate listings in Wasaga Beach and surrounding areas please visit my website at andrewweaver.ca.


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Coldwell Banker Ronan Realty

Coldwell Banker Ronan Realty
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