Imagine the freedom to enjoy your land and your outdoor hobbies, however you choose. Whether you’re dreaming of building the perfect cozy cabin getaway on your own acres, or managing your own hunting land, land ownership is an exciting prospect that can leave you with many questions. Here’s where to start when looking for recreational land!
How to Know You’re Ready to Buy Recreational Land
How do you know when you’re ready to take the leap into landownership, or if it’s the right time to buy? Evaluate how you spend your time recreationally now and how it aligns with your long-term goals. Maybe you’re leasing vacant land to hunt on but would like to manage the property yourself. Perhaps you’ve always wanted to spend more time in nature and are looking for a place to one day build your forever home. Land ownership removes the limitations that come with leasing or sharing land and gives you the freedom to enjoy and improve your land however you want to.
Trends show land values are continuing to increase, meaning land can be a smart investment that will continue to go up in value over time. Deciding if you’re ready to invest in recreational land is a decision only you can make. If managing and improving your own land is something you’re ready to take on, then it might be time to consider how to make your rural dreams a reality!
Work with the Experts
Begin working with a lender who specializes in recreational vacant land financing right away. When you work with GreenStone, we will help you determine everything from your estimated monthly payments, down payment amount, and interest rate, and help you obtain a letter of preapproval. Your letter of preapproval is important because it lets you confidently search for properties within your price range and can also help ensure a smoother closing process.
Working with a realtor who specializes in recreational land can also greatly improve your buying journey. Realtors can help coordinate getting a land survey, percolation (perc) test, or other testing you would like to have done on the property prior to purchasing.
It’s All About Location
When it’s time to start searching for the perfect property, it all starts with the right location. The location of your land can determine how you are able to enjoy your land, and if there are any restrictions on what you can use it for. Here’s what to consider when it comes to the location of your property:
How far away will your property be from where you live?
Will the location of your land affect how often you are able to visit? When choosing your rural getaway, make sure it is still within a close enough distance that you can spend as much time on your property as you would like to. Or perhaps the land itself provides enough value to justify a longer drive!
Do you plan to build on the property?
Whether you’re planning on building your forever home or thinking about putting up a pole barn, consider if you will be able to build on your land. Are you able to get water, electricity, and other utilities to the property? Is the property in a flood zone? These are all important things to know ahead of time to ensure the land matches your vision for what you would like to use it for now and in the future.
Is the land easily accessible?
How will you get to your land? Will you need to obtain an easement to get to the property? If so, will you need a survey to determine the legal description of the easement? Also consider if you will need to put in a driveway or maintain roads to access the property. This is especially important if you plan to build on the land.
Does the property have any zoning restrictions?
When searching for property, check to see if it falls within any type of zoning restrictions. Agricultural, timber, or conservation restrictions can impact what you are able to use your land for. A land survey is another important step to help you identify property lines. Ensure the features, as well as the acreage of the property, align with how you would like to enjoy your land.
Preparation Makes Land Ownership Possible
When it comes to finding the perfect property for you, preparation before beginning your search is key. The more you know about what you are looking for, in addition to the information you can provide up front to your lender or realtor, will help make the buying process as smooth as possible. Land ownership is a big step, but with the right preparation and experts by your side, you can make your rural dreams a reality!
Contact your local GreenStone branch for more information on financing your dream recreational property.
