Master's Tips for Buying Rural Property (1 of 8 in a series)

Write down in detail what you want in a piece of land BUYER’S TIPS 1

Write out your thoughts as you answer the following questions:

What will be the primary use you have for the property- immediate and long-term? What is your purpose in buying it?

Are you looking for a presumed permanent stay, or are you buying for an interim period? Maybe only for weekend recreation? For retirement?

Assuming you have determined a budget and allocated a certain amount for this new home and property, what price range are you comfortable with? Are you able to pay cash for the property? Do not forget that taxes and insurance will be added costs associated with your purchase.

How much acreage can you physically manage?

In what area will you look for acreage? Give careful thought to the commute: to and from work, school, place of worship, areas of interest, etc. What is the proximity to your friends and family members? Is there enough shopping and available services in the surrounding area to supply your needs?

Topography is important as it pertains to construction and accessibility. Personal preferences vary and the usefulness of all of your acreage may be affected. Some love the views. Others can’t stand to be stranded in the winter storm. What is the access you will have to your property- does it suffice?

If you can find a parcel with a peaceful spring or creek flowing, or a pond to fish, woods for hunting/ hiking, or pasture for an animal or two, is that of additional interest to you?

Restrictions… know what restrictions you consider tolerable and protective, and which ones you would prefer to avoid. For instance, will you be allowed to construct the home you want on your property now or in the future? Are your pets or animals welcome according to the declaration of restrictions associated with your desired property? What about business activity at your home?

If you need to sell the property in the future: consider the salability of the property you wish to buy.

Look over your notes and visualize again what your dream property may look like. Try to narrow your search and compare only properties you decide in advance will be suitable.

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