Five tips before you buy your first rural property

Tyler MayhanMiscellaneous

Five tips before you buy your first rural property

So you’re ready to make the big move to the country. You’ve found a piece of undeveloped land where you plan to build your dream home. Here are five quick tips before you sign the contract:

1. Check utilities

Verify in advance which utilities and services are available (if any). Do you need to bring in electrical service? A well? Septic system? Rent or buy a propane tank? Contract with a trash disposal service?

2. Check technology

Does your cell phone get a signal at your potential home site? Can you get landline phone service? Where do you get internet service? TV or cable service?

3. Ask about financing

Most banks don’t offer 80% financing for 30 years on undeveloped land. Verify with your bank on what terms are available for raw land.

4. Check zoning & building codes

Verify exactly which municipalities, and/or home owner’s associations have authority over your land. Check zoning and building code to verify you can build or locate a manufactured home on your site.

5. Check flood zones

Everyone wants a creek on their land, but if it’s in a flood zone it can make your property difficult to finance or insure. Verify flood zone information before signing.