Moving to smaller rural towns is becoming increasingly popular. Escaping the rat race of the city is more and more attractive; and working from home is making it possible. Hopefully you can find a tract of land in a rural community that’s close enough to the city that you can have the best of both worlds. Whether you inherited the property or are buying it, you’ll need to treat it much the same as city property.
You’ll need to do some fact finding before finalizing the purchase. We’ll talk about some items to consider here.
Plan for utilities
Deciding on the piece of land you purchase has to entail more than just aesthetics. While you may want a beautiful view or a pond and wildlife; if you can’t get everyday utilities to the property it’s worthless. Do research. Is city water available? Can you dig a well for water? How much will that cost? Is there already electricity on the property? If not, can it be run to the location?
This can turn into a major setback. You may find yourself owning a property that cannot be used.
Get a survey
Just as with purchasing property in the city, you’ll need to have the land surveyed to establish the definite ownership boundary lines. This is likely a huge monetary investment and you want to be sure you are getting what you think you’re paying for. Peoples’ memories are oftentimes flawed so don’t rely on personal anecdotes for accuracy of property lines.
Good fences make good neighbors
Whether or not you plan to add an agricultural tax exemption by adding cattle, sheep, or horses to your land, fence property is a must. Fencing not only keeps your animals inside your property; it also discourages trespassing by individuals who shouldn’t be there. Rural fencing can be barbed wire strung between rustic posts, pole fencing, and more. Fencing services like Bekaert can take the hard work out of your hands.
Adding a nice gate with mechanical closure is a great way to keep your property secure.
Another benefit of having a couple of acres of land in a rural area is taking advantage of the agriculture exempti0n on your property taxes. Adding sheep, goats, or cattle to your property can save thousands in taxes. Of course you’ll need to do research to see the restrictions. There are minimum acres, number of and types of animals allowed, and more restriction you need to be aware of before trying to claim this exemption.
If you’re planning on raising farm animals anyway; you’d be foolish to not take advantage of this tax break.
You can live a simpler, happier life if you move away from the big city to the country. There are challenges but if you find a tract of land close to a tiny town that has services like a post office, grocery store, hardware store, and gas station, you’ll be amazed at how good life can be. We made that move five years ago and have never looked back.