If you are like many people, you’ve probably considered the possibility of buying an acreage. Acreages can be a tempting dream for many—a chance to take charge of your life and land, a chance to escape from neighbors, busy streets, and even the hustle of small towns. However, owning an acreage is not all about beautiful landscapes and relaxing on the front porch. There are several downsides to consider when thinking about owning an acreage.
Financial Downsides
Land used to sell cheaply in rural America, but that is no longer the case. Land everywhere is now at a premium, including plots in the countryside. If you come across cheap land, be sure to investigate thoroughly—engage the services of a surveyor—before making a deal. Much of the land that appears inexpensive is actually useless. For one reason or another, it may not be suitable for building or use. You might own acres of land, but it’s the real estate equivalent of owning a garage full of cars that will never run. It may look good on paper and sound impressive in conversation, but in reality, it’s worth nothing.
In fact, owning useless land can actually cost you money. In some cases, property taxes may still apply. Additionally, there may be liens or rights of passage on the land. In the worst-case scenario, it could become a party or recreational hotspot, where someone gets hurt and sues the owner for the injury. Don’t get involved with land that cannot be developed.
Service Downsides
Even if you manage to acquire a nice piece of land and build your dream home on it, there are costs and inconveniences you might not have considered. Living far away from the noise of towns means more quiet, but it also means more inconvenience.
- In an emergency, no services are close by to assist on an acreage. You will have to drive yourself—or anyone sick or injured—to the nearest town. These valuable minutes could significantly impact the outcome of the situation.
- Phone lines and cable services to acreages are often much more expensive than those in towns—sometimes as much as ten times the monthly fees. While satellites and digital technology are slowly bringing these costs down, you can still expect to budget significantly more for these services.
- Being further away means, well, being further away. Young families may find that their children suffer when living on a plot of land far from town. Bussing to schools can add as much as an hour and a half to an already busy day. This can tire children out, affecting both their social lives and their studies. Additionally, you might find that commuting to and from your job (if that’s the case) is not as easy as you imagined. Shopping will also require more planning—you can no longer run to the corner store when you’re low on something.
- Property in the country lacks many of the conveniences that people in towns take for granted. This includes things like sewage and water hookups. Many acreages require a well for water, so you’ll need to ensure that the well provides a sufficient supply of clean water before deciding to buy the property. Wells can also be a lot of work and may present potential hazards.
You might have an entrepreneurial spirit that tells you to turn an acreage into a money-making investment. While this is certainly possible for many property owners, it’s important to realize that it requires a lot of work. In many cases, it will also involve significant inconveniences. Farms, developments, and small tourist businesses demand a lot of time and effort, often with little profit. Make sure that if you’re counting on making money from your property, you’re prepared for the work involved!
