Buying ranch or waterfront property can be a fantastic investment. These types of homes provide an unbeatable setting for enjoying all that nature has to offer. Whether you’re interested in hunting, fishing, swimming, camping, hiking, or boating, buying the right property can give you and your family a lifetime of good memories. There are many important aspects to buying these types of homes—here are a few things to be mindful of while searching for the perfect property.
1.General infrastructure If you’re looking into more rural properties, you should always check to see the services available in that area. Does the property get city water and sewer service? Will you be able to set up electric, phone, internet, and all the other amenities you may want in this day and age? How about road maintenance, trash pickup, and public transportation routes? Familiarize yourself with all the rural resources and information you can.
2. How well the structure can withstand water and weather Waterfront homes are prone to higher levels of abuse. The elements can really take their toll, and extra measures are often necessary to protect the integrity of the house. There’s an increased level of moisture in the air, and weather patterns near bodies of water can be more extreme. The current state of the home should ideally come with a high level of upkeep and regular maintenance by true professionals.
3. Every item included with the sale You always want to be well versed on what structures are involved in the transaction. This is especially true when dealing with ranches—you should have a detailed list of what will become yours. This includes gates, sheds, barns, fences, benches, miscellaneous equipment, or anything else on the land. As a general rule of thumb, ask questions about anything that can be moved.
4. The shoreline’s history and/or future Not all waterfront property is the same. Keep in mind that when you’re buying a home on the water, you’re also buying the water and shoreline. Check to see if there are any water quality issues you should be aware of. In some cases, the shore is prone to moving. If the water level drops, you could end up being too far from the water. If it gets too high, you might lose some property or suffer property damage. This is also why you need to look into what kind of flood insurance you’ll need; unusual insurance expenses can really add up. You should always consult a qualified insurance provider to get a quote and make an informed decision for waterfront property.
5. What improvements can be made to the property People who buy waterfront property usually do so to use it recreationally. Government agencies are very strict to deal with, which is why finding out what the city will allow regarding construction is vital when looking into a lakefront home. You should always check into whether docks and other attachments can be properly installed and legally permitted.
6. Contacts in the area If you find a ranch or waterfront property that you’re seriously interested in, and the land is far from your home or your closest neighbors, you should work to establish your own network of local contacts. This can include mechanics, law enforcement, and electricians. Talking to neighbors can be especially helpful—not only will you rely on them in case of an emergency, but owners that have lived there for a long time will be able to speak to the specific pros and cons of that area. They may have information that could make or break a deal.
Of course, hiring a realtor you can trust is key to buying the right property to fit your needs. At Carpenter Ledyard, we specialize in ranch and waterfront property. That means that we have the right relationships and tools to bring together buyers and sellers. If you feel overwhelmed and need an honest, reliable real estate agent to help you navigate the market, give us a call at 512-294-3758.