The Pros and Cons of Buying Rural Residential Lifestyle Acreage
When you are looking to buy, you may consider investing in the lifestyle available on a rural residential 3000 sqm lot.
So let’s take a look at the benefits and disadvantages of buying this type of property.
For some, moving from city life to rural residential may require an adjustment.
When you shop, you will buy in bulk, particularly toilet paper. Which is of course different to metro life but can have certain benefits.
You will no longer regularly go out on a Friday night and your weekends will be spent on enjoying the lifestyle you have at home.
You will also learn that you do not leave your home for just one reason. Because of the distances to amenities, trips are combined to ensure you get value out of the journey. Doctors appointments are combined with shopping and trips to the refuse tip.
These perhaps are minor adjustments, but the change in lifestyle will provide great benefits however, for you, and your entire family.
Here is a pros and cons list to help you when considering if rural residential is the right decision
Advantages of living on acreage:
- Increased privacy for your family
- More room to undertake the activities you want to do
- Ability to grow your own food – vegetables, herbs, orchards etc
- Room for a large shed
- Healthier eating with limited easy access to takeaway
- Have some chickens
- Space for kids to play
- Peace and quiet – well, except for the birds and other wildlife!
- Room for another large shed
- Room for a pool or tennis court
- Fresh air and exercise becomes your lifestyle
- Ability to learn new skills and more about your natural lifestyle
- Ability to see the stars at night.
Disadvantages of living on acreage:
- Schools, shops, medical care and transport require you to drive
- When you run out of toilet paper, it is not quick walk to the shops
- Weekends are spent looking after your home
- Need to learn new skills and more about your natural lifestyle
- “Nightlife” means the twinkling stars and the occasional owl
Many large acreages that have been subdivided may not have had power, water, sewage, NBN to the house blocks. These are huge expenses and must be included in your budget if you are buying outside of a development.
When buying within rural residential developments, the facilities will already be part of the package, but divided amongst the multiple blocks.
Buying rural residential can not only be a great change of lifestyle, but it can also mean a great investment.
If you buy a large block on the fringes of a growing community, that community will at some stage reach you.
This helps twofold:
- It means that larger blocks will become rare, as well as the demand for increased housing raising the price of your block.
- It may take many years for this to happen, but it is good to know that buying larger tracts of land can also lead to positive financial growth.
When looking for finance for rural residential, if it does not produce income, it will be a residential mortgage with usual deposit requirements.
However, if income is produced, you may need to consult a financial advisor for the best direction as commercial loans have higher interest rates. As with all major investments, contact a local expert to help walk you through the important elements you need to consider.
Interested to know more?
Check out our other posts related to living on large blocks of land. Including our post about ‘Is Acreage Right for You?’
Or perhaps you’re looking for a lot of acreage land? If so, see what we have available in our Now Selling section.