If you’re thinking about relocating and investing in a new house, the idea of finding somewhere totally out of the way, far away from the city’s traffic and noise, can definitely appeal to some. However, there are many good reasons to buy a property that is out in the countryside. For example, more rural homes are more likely to be in regions with lower crime rates and better air quality and being very attractive, even unique, in their own right. As a result, there are many reasons why this kind of home could be precisely what you are searching for.
However, although the concept may seem appealing, purchasing a rural property comes with its own set of considerations, many of which you would not have to think about if you were buying somewhere near a bigger city or somewhere at least a little more populated. As a result, before making an offer or putting down a deposit, you should carefully think about all the consequences of buying a rural home, and here are some of the essential factors to consider.
If you live in the country and your electricity goes out (possibly due to a storm knocking a line over or a tree falling on it, for example), you will be among the last on the list to have it restored. This is because power providers prioritize areas with a high number of people and businesses since this is where the greatest disturbance occurs when the electricity goes out. As a result, depending on how rural you are, it could be days before you get electricity restored to your house.
To combat this issue, you might want to install your own backup generator. Although this would be potentially costly initially, it could help you hugely should the power be lost and it won’t be restored for days.
It could well be your ultimate desire to escape the hustle and bustle of more crowded places, and moving to a rural neighborhood will indeed be much quieter; there are fewer people around, and you are unlikely to be bothered by traffic at all hours of the day or night.
However, keep in mind that the countryside is not entirely silent, and you will hear the sounds of animals such as cows and sheep, agricultural equipment such as tractors and combine harvesters, and even gunshots if you live near a hunting spot. Of course, this might be one of the main reasons for moving or at least one of the things you thought about, and perhaps you have already decided to visit 80percentarms.com/80-lowers/ to buy parts to build your next gun. However, if this could bother you, you need to think hard about whether the countryside is the right place to live.
Roads And Transportation
Country roads may lead you home, but they may also be poorly maintained and riddled with potholes that local governments do not have the time or money to repair. Whereas major highways are prioritized, these much smaller roads or lanes – or even single-car tracks – could be left to their own devices, gradually becoming inaccessible. You may be responsible for maintaining the road leading to your house since no one else can, particularly if it’s a private road and you don’t want to harm your car by driving over big potholes.
Not only that, but rural estates and towns aren’t usually served by regular public transportation. You could be miles from the closest railway station, and buses might only operate two or three times a day. So living in the countryside will be difficult if you don’t have a vehicle.
You should obtain a copy of the plan of the land if you are considering any “proposed” or “intended” easements or rights of way. It will also alert you to any easements which were not on the land at the time of inspection but have since been noted on a plan as approved, as these easements may impact on your farming in the future.
Rural land that does not have access to water is not as valuable. You should check whether the water resources at the proposed property are registered as required by the local government and state laws. A property that requires irrigation licences, water access from rivers and water bores all need to have obtained the appropriate approvals, and details of such approvals should be included in the contract for sale. Where there is a dam on the proposed property, you should also check that the dam is compliance in the area in which you are buying.
You can also obtain a native title search which will show you whether there is a current native title claim on the land, and if so, the extent of which this may affect your farming endeavours.
Before you purchase rural land to run a business from you should discuss the land and the proposed business with an accountant who is experienced in rural taxation. He will be able to advise you in respect of any GST and CGT implications and other taxation issues that might arise in respect of your purchase and subsequent business operations..
Also Read: 4 Steps To Moving Cross Country
Before you commit to the purchase of any rural land, you should ensure that there is a legal right of access to the property.
Sometimes what looks like access to the land could actually just be an easement or a stock route that can be changed by the actual owner of the land at any given time, which may leave you unable to access your land. It is particularly important that confirmation of legal access to the land is obtained if the land is around Crown Land areas, as something that appears to be a driveway or access way to the property could actually be an “enclosed road”, and although it may look like a normal road it is actually owned by the government and can be closed by the government at any time, which will result in you being denied access to your property.
It is important that you ensure you get the right advice and assistance before and after you enter into a contract to buy a property, whether rural or not, as every property is different.
Legal professionals experienced in rural conveyancing can best assist you to ensure that the land you propose to purchase is properly investigating prior to the purchase to ensure you are aware of any risks, thus protecting your financial investment.