If you have been living in an urban or suburban area for years due to work or family needs, your dream retirement is likely to include a move to a more rural area, such as a small farm or ranch property. But the purchase of a rural property is very different from the purchase of a townhouse or suburban home managed by an HOA. If retirement is looming and your plans are likely to include a move to a much more rural area, here are some things you can do to help you find the perfect farm or ranch property for your needs.
Decide where you can find the right weather and climate conditions
Daily life on a small farm or ranch is likely to be much different than living in the city and working in an office each day. If you are planning to keep animals or poultry, you may need to spend several hours outside each day providing care for them. So, the first step in finding the perfect ranch or farm property must always begin with choosing the geographic area in which the year-round weather is suitable for your comfort and expected farming or ranching purposes.
Narrow the list by budget and available improvements
Once you have decided on the area of the country that will offer you a suitable climate, you will want to begin narrowing down your choices. The best way to do this is to narrow the field of available properties by both your budget limits and the available improvements the property offers.
Once you have a list of properties that fit within your budget guidelines for the move, you can begin to more accurately narrow the field by determining the additional value that each one provides. Favoring properties with existing improvements, including structures and fencing, allows a buyer to more easily transition to farm or ranch life without incurring the additional costs involved in developing a parcel of raw land into a working farm or ranch.
Rely on the assistance of a skilled, local pro
Another important factor to consider when shopping for a farm or ranch property is local knowledge. Retirees who are searching for farm or ranch properties in an unfamiliar rural area are more likely to find the best deal when they opt to work closely with a reputable, local real estate professional.
In addition to having excellent information about the local real estate market and economy, local agents who specialize in rural farm and ranch properties for sale can guide incoming retirees to the best possible properties.
Share14 August 2019
Once I paid of the mortgage on my house, I decided I wanted to buy an investment property. I had no idea that the buying process would be different, but it really was. There were so many things to consider that I hadn't thought about, and even the loan application process was different. It occurred to me that if I didn't know about it, others likely didn't either. I built this site to help others see what I went through buying my first investment home. I hope that it helps you to approach the process with more confidence and understanding.
