Pros and cons of buying acreage

Moving to the country life where there is fresher air, less traffic and a more relaxed lifestyle sounds really appealing to many city-dwellers.

While acreage living seems like the ideal place to evade the busy and stressful life of the city, there are many challenges involved such as maintaining the property, especially if you have dreams of developing it into a hobby farm.

Keep in mind that being an acreage owner has more responsibilities than being a homeowner in the city. So before you make a life-changing decision, consider first the pros and cons of buying an acreage.

What is an acreage property?

An acreage is a property of at least one acre in size but often much larger. An acre is 4,047 square metres.Usually, an acreage is used for agricultural purposes, and it can be as big as 20,000 square metres, compared to the typical block size in Australia of 400-800 square metres.

Pros of buying an acreage

For home buyers looking to purchase an acreage property,  here are the pros when you decide to leave your city life, and move to a rural or outer-suburban area:

• Living on an acreage will give you more space and privacy.
• The quality of air on an acreage is a bit better than in the city because there is little pollution.
• Living on an acreage will give you peace and quiet since there are no sirens, car horns or construction noises. Also, life in the country is more relaxed.
• Moving to an acreage will get you closer to nature. You can enjoy the natural sounds, the night sky, the sunrise and sunset, and the wildlife that city life can't provide.
• Buying a property farther away from a city or a major town tends to be sold at more affordable prices.
• Extra space if you're planning on building a new home or undertaking significant renovations to the existing property 

Cons of buying an acreage

Buying an acreage also has its cons, make sure you know them before you buy an acreage:

• Living in a city has a wide array of entertainment options. When you move to an acreage, you need to prepare yourself for a lifestyle change, since you're going to be living far away from amenities.
• Your commute to a city job will be longer and more expensive.
• The mobile reception and also the internet speed might be slower.
• Maintaining an acreage can be hard work because of its large size. The main work will be mowing, maintaining the garden and trees, and looking after any animals.
• Apart from the time spent maintaining the property, you also need to factor in the cost of your equipment such as mowers, brush cutter, chainsaw, and power tools.
• You need to prepare yourself for natural calamities such as bush fires.
• The wildlife is not always friendly. Make sure you know how to deal with animals such as snakes.
• Some services available in higher density areas may not be available in fringe or rural areas 
• Remote locations can sometimes be a barrier to finance

Questions to ask when buying an acreage

Similar to buying a property in the city, you need to ask yourself certain questions first before buying a property to help you assess if the acreage meets your needs.

Here are some questions to ask yourself so you know what to look for when buying an acreage:

• Are there any special zoning regulations?
• What are the deed restrictions?
• Does the house have an adequate septic system?
• Is the water safe?
• Are utilities available in the property?
• Are there any existing easements?
• Where are the boundary lines?
• Does the land drain well or does it drain slowly?
• How will you dispose of the trash?
• Is the property easy to maintain?
• Is the property accessible in the winter?
• If you are planning on building a new home, what building permits and local council allowances do you need to consider getting approval for? 

The list of questions can go on indefinitely. But the primary question you should ask yourself is why would you want to live in an acreage and what are your main objectives?

Knowing the answer to these questions will help you with your decision-making process.

Thinking of buying an acreage property? See if you qualify today 

Looking to make a tree change? We offer a range of home loans to suit your needs including competitive construction and builder home loans. 

loans.com.au's construction loan is perfect if you plan to buy land and construct a home or if you're completing extensive renovations to your existing property.

To find out more about our loan options, eligibility requirements, and application process, get in touch with one of our home loan specialists.

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