Are you considering buying an acreage?
I will be the first to tell you that the rural lifestyle has its rewards—including big, beautiful skies and the tranquility that comes with being surrounded by nature. Unfortunately, buying a property that doesn't suit your needs could make day-to-day life less than idyllic. That’s why it pays to know what to look for when buying an acreage. Here are a few of the things you should consider during your search.
HOW MANY ACRES ARE YOU PURCHASING?
For conventional mortgages, mortgage lenders will finance a certain number of acres, a house & a garage. The number of acres that they will consider can vary based on the property location and the norm for that area. The minimum down payment can also vary