In today’s fast-paced world, it isn’t surprising that more people are searching for a rural retreat to escape the daily grind. Investing in rural property can be a rewarding experience, but it can also be a nightmare if you don’t know what you are getting into. Rural property has unique characteristics, and there are many things to consider before signing on the dotted line. Here are a few key considerations:
- Future Plans for the Surrounding Property
- Access to the Property (road, easement)
- Easements on the Property (adjoining owners, conservation, utility)
- Boundaries & Lay of the Land (drainage, water features, flood plain, environmental concerns)
- Utilities on the Property (electricity, water, sewer—preexisting or requirements to obtain if not preexisting)
- Zoning (agricultural, commercial, industrial, residential—what is allowed on the property?)
- Environmental Rights (timber, mineral, water rights—are there any and do they come with the sale?)
- Neighbors (how do they use their property?)
- What Comes with the Property (fences, barns, silos, equipment, etc.)
It is a good idea to hire a buyer’s agent who specializes in rural property to help you find the perfect rural property that suits your needs. It is also a good idea to contact the County with any questions about easements, utilities and zoning. If you have property-related issues on rural land you already own, it is a good idea to contact an attorney to ascertain your rights and discuss your options. At Shipman & Wright, we have the property, real estate, and land use attorneys for the job, who are ready to resolve your property-related issues, so you can go back to enjoying your rural retreat. Feel free to contact us for a free and confidential consultation and case evaluation.
