When you think about buying a piece of land, you might think about buying a small plot in a nice subdivision. However, buying rural land can be a good idea, too. These are some of the surprising yet exciting benefits of owning land in a rural area.
1. You Can Buy a Larger Plot
For one thing, depending on the rural area in which you choose to buy, you might find that you can purchase a much larger plot of land. This means that if you’d like to have a big yard for your kids to play in or if you would otherwise like to have a lot of space, you may be able to actually find land in the size that you want. This might not be the case in a less rural area, where you might be limited to finding plots of land that are considerably less than an acre in size.
2. The Land Will Probably Be Cheaper
Buying land can be quite expensive. However, if you choose a rural area rather than an area in the suburbs or the city limits, you might find that land costs are much lower per acre. If you are having trouble finding a piece of land that fits within your budget or if you are just looking to get the best deal for your money, you might find that it’s a good idea to get out of town. Then, you could be surprised to find just how affordable the land can really be.
3. You Won’t Have to Worry About the Same Restrictions
If you buy land in the city limits or in a suburban area, you might find that there are a lot of restrictions about what you can actually do with your land. For example, if you buy land in a community with a homeowners association, then you might have to build your home to certain specifications or follow other rules. Even if there isn’t a homeowners association, you could still find that city codes require you to follow certain restrictions. For example, if you like the idea of owning livestock on your land, you might find that you are not able to do this in many areas. If you choose a piece of land that is in a rural area, however, you can help ensure that you have more freedom to do what you want with your plot of land. Of course, you’ll still want to check into any county regulations to ensure that you are abiding by them.
4. Your Taxes Will Probably Be Reasonable
Paying property taxes on your land can be costly. However, the good thing about buying cheaper rural land is the fact that your property taxes should be lower. This is because the value is generally lower. Plus, instead of having to worry about paying both city and county taxes, you may just have to pay county taxes. This can save you a significant amount of money at tax time.
5. You Can Sell it if You Need To
Investing in land can be a smart decision for the future. If you find yourself in a tough financial situation, you may find that you can sell some of your extra land to get the money that you need.
6. It Could Go Up in Value
Right now, the rural land that you purchase might not be worth a whole lot of money. However, there is always the potential that this could change in the future. Over time, as your area develops and grows, your land could grow in value. Eventually, it could be worth a whole lot more than you paid for it, making it a great investment.
7. You’ll Always Have a Place to Live
If you buy your own piece of land now, you can help ensure that you always have a place of your own where you can live. If things get tough, knowing that you have your land can provide peace of mind.
8. You Can Use it for Many Different Purposes
Rural land can be used for so many things. You can build a house on your rural land, or you could simply use it for camping and hunting. You could use it as a place to store livestock or to ride ATV’s. The possibilities are endless with many pieces of rural land.
As you can see, if you have never thought about buying rural land, you should know that it can be a good option. If you start looking into your options, you might find some great pieces of land that can allow you to enjoy these eight benefits and more.