Recreational land is just what the name suggests; land used for purposes of recreation. Examples include playgrounds, sports fields, camping sites etc. Investing in recreational land is ideal for those buyers looking for weekend getaways, hunting, camping and family retreats. There are many benefits to owning recreational land including family enjoyment of Mother Nature, teaching your kids sportsmanship and good hunting ethics along with a great place to invest your money. It is a tangible investment that allows the outdoor sportsman the opportunity to enjoy, improve and make memories on. For those in the market for recreational property, there are many things to consider. Buying a rural plot of land comes with you doing your home work and considering many aspects. Central Texas Auction Services wants to walk you through the basic avenues one must consider when looking to buy rural or recreational property.
Importance of Location in Recreational Property Real Estate
First thing that you must consider is location. Buying rural recreational property comes with large spaces between neighbors, which sound great. But how about grocery stores, other essential retail stores, and medical centers as well as everything you need for day to day life? Does the location have good neighborhoods with neighbors that take pride in their homes and lands? You may want to engage in conversations with the surrounding neighbors and find out how things are done in the area, such as hunting rights and the how utilities are brought in. If you want to build or have a camp, utilities are highly desirable. Other good qualities to look for include good habitat for hunting and wildlife, easy access to the property and a clean title.
Recreational Land Loans & Financing Options
If the location is desirable to you, the next step is looking into the financial aspects of the land. Over the last few years, rural property values rose significantly. The inflation of this type of property is expected to come down, but it won’t be very quickly. You may need to look into some financial options and possibly even some assistance programs. You may need to consider a large down payment or additional capital. However you don’t need to do it all on your own. There are government assistance options as well. Recreational land may qualify or even already be under government assistance. You can contact USDA Farm Service Agency (FSA) and see what the land you are interested in qualifies for and all FSA programs available.
Working With a Realtor to Buy Recreational Property
Working with realtors can be greatly different than hiring a buyer’s agent. Realtors work around the clock to make a sale. We can provide a great deal of information about the property and the surrounding areas. A benefit to having a realtor is that we work out those complex details such as who will be the responsible party for certain expenses and transactions. That could include closing fees, document preparation, recording fees, and real estate tax liability.
Items Included with the Real Estate Sale
Sometimes, those who are looking into buying rural or recreational property get more than just the land. Check to see if there are any other items included in the sale of the land. You will want to catalog and make a list of each item and its value. Items like large equipment, livestock panels, feeders, gates and fencing, etc. all need to be written down. You will want to make sure it is part of the contract price.
Buying & Selling Recreational Property in Belton, Killeen, Temple & Central Texas
Buying rural property comes with a lot of consideration such as zoning and property boundaries. Look into the cost of ownership; local resources and accessibility to nearby neighbors assists you concerning all of the steps necessary for the property purchase and title insurance. Having a reliable realtor or buyer agent will help make you better prepared for all the ins and outs of purchasing recreational land. Central Texas Auction Services has a great deal of experience in the selling of rural property through auctioning services. If you are interested in buying rural property we hope this was of benefit to you in preparing for your future purchase. Contact us for all your real estate needs!