What to consider when buying a rural property

Buying property is an exciting endeavour for anyone. But before you make the big purchase, get off on the right foot with a few preliminary steps. Here are a few things to consider.

Local planning, health and other regulatory authorities have extensive control over what may and may not be done with rural property. For instance:

• Conservation orders may prohibit the removal of some (or any) trees.
• Building permits or consents will be required before structures can be built (and may even specify the colour of a building's roof).
• Zoning laws may allow only certain farming activities.
• You may even find that you are responsible, after purchase, for rectifying pre-existing regulatory breaches.
• Don't sign for a property without first consulting the local municipality.

You might wonder why neighbouring properties of similar size differ in asking price. Value of land is influenced not only by parcel size, but by other elements such as improvements to property, access to water, topography, aspect and soil quality. Closely evaluate the particular features of a property so that you can best judge how well its price compares with its value.

Emotions count when it comes to evaluating property, but assessing the value of  a rural property, goes beyond judging esthetic appeal and acting on emotional impulse. Adopt a hard-headed attitude and do your due diligence and you will get the property of your dreams at the price you want.