Today’s neighborhoods place houses side by side on small lots. The team of real estate agents at Gilbert Realty in Mountain Home, AR, understand that some home buyers are looking for a little more space to grow into and have helped families find the perfect home with acreage. They explain that there are significant benefits to purchasing a house that comes with land, that many often don’t realize.
To help you make an informed decision, here they share a few of the advantages of buying a home with acreage:
1. Children & Pets
Having a home with a nice size yard is great if you have or plan to have children and pets. Being in a neighborhood or on a lot closer to the road can be dangerous, but having acreage means your kids and furry friends have plenty of room to play safely.
A home with beautiful acreage has great income potential. Consider renting your outdoor space for weddings or even adding an extra building as a reception hall. Other landowners create seasonal corn mazes or pumpkin patches. Plus, the more land you have, the higher your future resale value will likely be.
3. Expansion Opportunities
If you purchase a home on a tiny lot, chances are you won’t be able to add square footage later. Buying a home with acreage, however, leaves you the option for a bedroom or living space add-on in the future. This extra space can also be used to create work sheds or adding a pool.
4. Tax Breaks
In many instances, owning a smaller home on an expansive property provides financial incentives as the land carries far lower tax rates. You can then use this money for the aforementioned add-ons, business side-projects, or place it in savings.
Today’s new construction neighborhoods are filled with homes that have minimal space between them. Such proximity to your neighbors greatly reduces your privacy, particularly outdoors. While you can erect a fence, that’s a very costly solution. Having land around your home offers beautiful, natural seclusion.
While purchasing a home with acreage may have greater up-front costs, the long-term benefits of the added space make it a worthwhile investment. If you’re in the market for a new home, consider how land is better for your current and future family and finances. To view a beautiful mountain home, lakefront property, or anything in between, reach out to the knowledgeable team by phone at (870) 425-6282 or online.