If you are looking to get away from the hustle and bustle of inner-city life, a home in the countryside may be just the ideal place to live.
More secluded than suburbia, rural or country homes offer a peaceful setting to leave the daily grind behind. You can raise your children in a natural environment or simply unwind and nurture your green finger.
Whatever your reasons may be, rural homes offer a different way of life, and we are here to help you find your new home.
So you have a vision of living out in a rural area, but the term rural can mean different things to different people.
Some might consider a huge patch of open space surrounded by farmland, forests, and rivers as rural, for others, the further away from metropolitan areas, the “more rural” a home becomes.
Regardless of your personal definition, you need to know what constitutes a rural home as this will depend on the property type, price, amenities, and taxes.
Definitions of urban versus rural areas vary depending on various factors such as population density and size, geographic isolation, land use, economic status, or proximity to metro areas.
Based on the 2010 decennial census, the U.S Census Bureau defined rural areas as settlements and open countryside communities with less than 2,500 residents.
Although this is the definition used by the U.S. Department of Agriculture, it is important to have the correct information from real estate experts like the team at Realized Properties.
The COVID-19 pandemic has triggered numerous changes in the way we live, work, and interact with each other.
People are rethinking where they want to live, with 61% of respondents in a study finding suburbs more appealing compared to city dwellings. The survey also found that 60% of people also felt the same way about living in rural areas.
These responses are reflected by the double-digit rise in house prices over the past year and statistics from the National Association of Realtors show that the current median price of $350,000 has almost doubled since a decade ago.
A major factor is the push of urban dwellers to more remote locations as they escape the confinement of apartments as a result of lockdowns and stay-at-home orders.
The rise in remote work and work-from-home opportunities has also pushed up demand. City dwellers used to paying exorbitant rates for cramped apartments are now open to living in smaller towns.
Even though the market is currently overvalued by approximately 10%-20%, price changes are expected as the economy returns to full health and property prices begin to reduce.
Additionally, sellers and buyers are not currently considered to be on the same page. Sellers see this as a great time to sell, while buyers are hesitant due to the high prices.
However, as restrictions lift and market self-correction mechanisms take effect, more sellers are likely to place their properties up for sale.
This will result in an increased supply of real estate properties that will eventually lower prices and create a favorable environment for buyers.
Engage a trusted real estate professional with access to listings of the best country homes to help you make the wisest decision.
Before forking out funds for a piece of real estate, it is important to weigh both the pros and cons of the property.
Rural properties need to be looked at differently from either urban residential properties or forms of commercial real estate.
From lakeside cabins and forest cottages to horse ranches or farmhouses, let’s briefly go over the pros and cons of investing in a rural home.
Generally, rural homes for sale have had low demand meaning there is less competition in the market. Even though demand is currently on the rise, prices are significantly cheaper for country homes compared to other homes for sale in big urban zones.
Country homes also have fewer regulations than properties within big cities where property development is restricted by state or municipal laws. This offers an opportunity to turn ranch homes or farmhouses into rental investments using services like Airbnb.
Listings that offer more acreage can let you engage in non-commercial farming or just give you the freedom to enjoy safe open spaces to enjoy with your family.
As well as starting a kitchen garden, or rearing a few chickens recreational land provides an opportunity to keep larger animals such as horses or farm agricultural produce.
Rural real estate poses different issues in comparison to urban properties and needs extensive research and first-hand experience of the market.
Because the rural real estate market works on a smaller scale than metropolitan listings there is a higher level of risk so specialized knowledge is a must.
This results in limited economies of scale so rural properties are not ideal as a source of income. If you are planning to invest in a country home for rental or resale purposes, you might have to wait a long time to find tenants and buyers.
Depending on the location, you could succeed in marketing country homes as vacation rentals but be prepared to wait for long-term returns on your investment.
You have a dream and we are here to help make it a reality. Buying a home is not an easy task. You could be putting your hard-earned savings on the line or committing yourself to an expensive mortgage, so there is no room for error.
Lack of information is probably the biggest reason many homeowners delay buying a house. This is especially true for first-time homeowners and people who simply don’t have the time or experience to deal with the buying process.
Realized Properties is your go-to realtor to guide you through the whole process and take care of all the little details. We are a family-oriented
We are your realtors for life and unlike other realtors who make a sale and disappear, we actively find ideal homes for sale, help you file your property taxes every year, and represent you if you wish to sell your house.
Contact us to relieve all your anxieties about buying or selling country homes.