Thanks to the current real estate market being a rather hot one lately, it’s important to note that the biggest way to make a decision regarding property purchases is to always buy something based on actual facts and information rather than emotion.
Here are three steps to make note of when it comes to purchasing a rural property:
Research
Researching the market is extremely important, as some sellers are purposely overpricing their properties in order to be part of the current upward trend. Keep in mind that listing prices are what sellers are asking someone to pay for their properties – it doesn’t necessarily reflect how much they’re actually selling for. Take the time to look for an experienced real estate agent familiar with the current market and do as much research of your own as possible.
Check out the Infrastructure
Not all rural properties have water and sewer service that comes from the city, and as far as telephone, electric, etc. service goes, these can have anything from limited to no access whatsoever. You also will want to obtain information regarding things such as school bus routes, trash pickup, and road maintenance.
Be Aware of Codes and Restrictions
If you’re planning to purchase a rural property and intend on subdividing it, take the time to look over subdivision laws in your county of residence, as well as potential extended territorial jurisdictions of nearby locations that may be responsible for governing the area. Furthermore, think about how these types of restrictions could adversely affect you, as well as how any future buyers may view them.
Thank you for visiting WR Team Realty’s blog, a parker county real estate firm. If you are looking for homes for sale in Parker County, contact an agent today!
