Guide to Buying Rural Property for the First Time
Many Americans dream of owning a plot of land to enjoy for a range of reasons, including recreational activities, investment purposes, or smaller-scale farming or ranching. If you dream of buying rural property in beautiful, affordable East Texas, and this is your first time buying land, we invite you to read this brief guide we’ve prepared.
Why Do You Want To Buy Rural Property?
This is the first question you’ll need to address. The type, size, and layout of the rural property you intend to purchase needs to meet your specific needs. If you’re purchasing land as an investment, you’ll need to keep the location in mind while being prepared to hold on to the property over time as it increases in value. Your criteria may differ if you want to own rural property for recreational purposes, where you can enjoy camping, hunting, or other leisure pursuits. Here are a few things to consider:
- If you’re looking for property where you can get away from work or city life to unwind, you may want a scenic stretch of land. Hills, trees, and water features all add to the appeal of rural property that’ll be used for recreational purposes.
Small-scale Farming Or Ranching
- If you’re interested in farming or ranching, you’ll need land that’s large enough to accommodate your cattle or other farm animals, or the plants and crops you’ll be growing. Terrain matters; in the majority of cases, flatter terrain will be easier to work with.
As An Investment
- If you’re going to hold on to your rural property for investment reasons, location is important. Purchase a piece of land that will likely hold greater value in the future. For this, you’ll need to be a bit of a visionary! The land specialists at Texas Acres will be happy to address questions you may have about what potentially makes a good investment property.
The Benefits Of Purchasing Owner Financed Land
As a first-time buyer of rural property, one important point you need to understand is that owner financed land is often much easier to obtain than land purchased with bank assistance. For starters, not all banks are willing to lend money for buying land. What’s more, banks that are willing to offer a loan for purchasing land may require a large down payment.
When you opt for purchasing owner financed land, you benefit in a number of ways. Typically, you save on closing costs, you can close faster, and there may be room for negotiating financing terms. Since you won’t be required to put as much money down, you’ll have more funds to work with. This can allow you to buy a larger or more valuable piece of rural property or allow for more capital to improve your land to fit your dreams.
How Texas Acres Can Help You
At Texas Acres, we’ve been selling owner financed land to satisfied buyers for over 14 years. We are poised to help you become a rural property owner, offering you greater options and opportunities through owner financing. Reach out to us today to learn more about the properties and financing we offer!