Buyers are running for the hills. And why not? For some, this is the first time they have been able to afford a home with a little land to stretch out on. For others, it’s full filling the dream of peace and serenity that comes with escaping suburbia. Whatever the motivation, buyers need to be aware that buying a home with acreage is a very different transaction than buying your standard Fresno track home. Here is guide to surviving it.
Buyers are running for the hills. And why not? For some, this is the first time they have been able to afford a home with a little land to stretch out on.
For others, it’s full filling the dream of peace and serenity that comes with escaping suburbia. Whatever the motivation, buyers need to be aware that buying a home with acreage is a very different transaction than buying your standard Fresno track home. Here is guide to surviving it.
Like all good beginnings, pick the right Realtor. Your Realtor’s familiarity with rural properties is absolutely essential to the success of your purchase. It’s a wise idea to ask a to get an idea of their knowledge level. If a Realtor hesitates to answer any of these questions, they are not the area expert you are looking for. Let me offer an example of questions and answers I would give, to give you something to compare their answers to.
1)” What does the average property in this area look like?”
In Tollhouse, the average property is a 5 acre lot, with a 1500-1800 sq ft home, 3 bed, 2 bath, most often built by western homes. They are general in original condition, possible with minor upgrades, in overall livable condition. The average price per sq ft is about $101-$115 for this type of home.
2) “What type of investigations should we do on this property?”
Buyer investigations can include, but are not limited to: home inspection, well and pump, septic, roof, pest, surveying of lot lines, zoning and usage, etc.
3) “What type of financing can we use for this property?”
Based on the average property described above, any government insured loan should be obtainable. This includes FHA,VA, and USDA. However, conventional financing is often the easiest to apply to a wide variety of the market, strictly because of condition.
Add these arrows in your informed buyer quiver to eliminate the un-knowledgeable.
Your second step is to prepare and adapt. Living in a rural community is very different from being in the city. The maintenance alone can be daunting! The best way to prepare for this change is to research. The web has amazing sources on DIY. But, the best way to learn about living in the country is to talk to your neighbors. They have already learned to flourish in your community. And, it never hurts to make new friends!
