The Pros and Cons
There are many reasons that people choose homes with acreage. Those in the Southwest may wish to purchase a ranch or other farming area. Family estates that can be passed on through generations can be valuable both monetarily and personally. Even smaller acreage allows the owner to pursue other outdoor activities or development, such as gardening or small farming, or hunting (in areas containing forest land). Acreage owners can also add a swimming pool or another building to their land, depending on how much acreage they own, to meet their families needs.
Privacy is a main reason that people choose homes with acreage. The separation from neighbors and other buildings provides them and their families with a place to live and interact away from distractions.
Depending on the area of the country you wish to reside in, be prepared to pay a higher price for such a home than you would for a home on a small lot (smaller than one acre). Homes on larger pieces of land also may be larger, therefore also accounting for the higher price. These homes can range from the upper hundred thousands to upwards of $1 million, again depending on the region and size of the lot and home.
Finding Your Home
When searching for homes with acreage, be sure to have some idea of what you wish to do with the acreage. Whether you simply want to enjoy the outdoors or you plan to develop the land through building, farming, or by some other method, do your research to find out how the land will be expected to appreciate or depreciate in value. This is important, as you should see your purchase of any home, this type of home especially, as an investment that can yield returns for years to come. Also, be sure you know the history of the land you are purchasing, especially if you plan to farm or garden on it. You don't want to be attempting to grow anything on land that has in the past been a landfill or dumping ground. Also, be sure that if you plan to build on the land that it is not unstable, but not bedrock either. Both of these will lead to disastrous attempts to develop your new land.
No Home?
Another option in this area is to purchase acreage in a desired location and then build a new home on it. The main thing to remember here is location, location, location. Knowing the current value of surrounding properties will help greatly in your research process. Some areas have more undeveloped land than others, and some areas are rapidly growing, so get to know the current trends in real estate and development in your desired area before deciding on a piece of land to purchase. This will allow you to get the most out of your investment.
Homes with acreage are an option worth exploring if you are looking to get out of a city environment, or if you simply want a peaceful place for you and your family to live. Development of acreage is also a popular trend, so be sure to look into this as well. Doing proper research will help you find the perfect home (and acreage) for you.
By Ashley Andyshak