Buying a home with acreage can give homeowners the benefit of having many more options for their property than buying a home on a conventional lot.
Whether you are a first-time home buyer, or upgrading homes in your search, it is important to first define the characteristics (and options) you desire in your next home.
Here, we’ll discuss the benefits and drawbacks of buying a home with acreage to help both new and seasoned homebuyers find the perfect fit for their needs, desires, and budgets.
Purchasing a home with acreage has many benefits for home buyers. Homes with acreage gives homeowners many more options than homes on lots or in the city, including:
• Space: for many people, more space means more fun. Need an extra storage building for your growing family? How about an in-ground pool to take summers to the next level? Do you own horses or other livestock? All of these are possibilities if you’re considering buying a home with acreage.
• Cost: Depending on the type of home, and amount of land, you and your family are looking for, you may find more for less. Price per square foot, as well as property taxes, are often lower outside city limits.
• Size: does your family need a large home? How about one with a mother-in-law suite? Having a home with large acreage means you have more space to build your home.
•Customization: You won’t find cookie cutter homes in the country! Building, or buying, a unique home is one reason that many homebuyers are shopping for a home with acreage.
• Less Regulations: the above are possibilities because homes with acreage are often located outside city limits – meaning they’re also outside city regulations.
• Privacy: not so keen on your neighbor’s taking note that it’s your second ice cream trip of the day? How about some extra privacy for those pool parties? Homes with acreage offer extra privacy because neighbors are spread apart further – giving you some room to do your own thing.
•Lifestyle: living on acreage allows more room to spread out and enjoy your hobbies, such as gardening, hiking, and spending more time outside.
Living outside city limits can definitely have its extra set of perks if these options above are appealing to you and your family. However, buying a home with acreage comes with other considerations before the big move.
In order to make great property comes great responsibility. Maintaining the exterior of a home with acreage is simply a different experience than that of a home on a small lot. Just as land, trees, and sky are more plentiful – so are weeds, lawns, and cost of supplies.
• Travel time: as mentioned above, homes with acreage are often outside city limits, and the time it can take to access them from town can take longer. If you work in a city, it’s important to calculate your maximum commute to avoid pitfalls in the future.
• Costs: the increase in maintenance and travel time associated with living in a home with acreage can come with an increase in cost, such as fuel.
Buying a home with acreage can be a great step for you and your family to enjoy more time with nature, spend time doing hobbies you enjoy, and have extra storage space as you grow. The added privacy is a main factor for many homebuyers as well.
Before purchasing any home, make sure to intentionally list out your desires, , and expectations. For example, whether buying a home in a city or with acreage, make sure to calculate you and your family’s maximum commute time. Calculating a budget, with room for contingencies, is another way to make the process of both home buying and homeownership go more smoothly.
Written By Jennifer Dowling, Listing Leaders Realtor