Texas Land: An Investor's Dream
Access to ranch land and open farm ground is giving investors terrific options for their money. Whether you have the cash to spend or are looking to build a home away from the city, Texas land offers buyers a lot of value.
If you're planning to build and live on the property, or if there's a house on the property and you want to renovate and move in, it's a good idea to look at your lending options.
If you're a veteran, mortgage options related to your service are likely a very good deal. However, the USDA also has lending programs for single-family homes in rural areas. Even if you have the cash to spend, if you plan to live in the house full time, a USDA loan can give you
- mortgage interest to deduct
- the chance to keep your cash liquid and available
- the chance to maintain a strong credit rating with regular payment history
Cash Investor Benefits
If you're looking for a site for a winter vacation home, a spot for a hunting lodge, or just ground for hunting, small ranch property in rural Texas may be the ideal choice. Working with a realtor who knows the area is a great first decision.
Protect Your Investment
Where do you see your investment going in the future? Will you eventually want a home on the property? What are the easements and how many access points are there onto the land? Find this out before buying.
If you're borrowing to buy the property, the lender will require a survey. If you're paying cash, you'll want to get one. Additionally, it's a good idea to carefully study the easements. For example, if you want to build a home, you'll need power, water, and, if possible, natural gas access. Can that come in from the road, or will it have to cross another's property?
Easement access is critical when you're ready to build; if your utilities cross another property, you could face legal trouble when the neighbor sells or breaks up their plot of land.
Additionally, you'll want to check the property from multiple directions and, if you can manage it, after a hard rain. When the big storms roll across, you need to know how much of your land will be passable or if any of it will be underwater. You may build your house on a high piece of land, but if you end up with a mote when it rains hard, you may struggle to enjoy your home.
Use Technology to Your Advantage
Hire a drone photographer to give you a detailed bird's eye view of your property. If possible, ask them to get images at different points of the day, and again, after a big rainfall. Do the ponds just get bigger, or will you have to deal with running water somewhere on the ground.
It's important to note that good rainwater management can actually increase the value of your property. However, you want to go into such a project with your eyes wide open.
Carefully Review Zoning
Moving to a rural Texas ranch means you won't have to worry about an HOA. That being said, you will face building codes and zoning restrictions. As these are in place to protect you from having to live next to a giant pig barn or a shooting range, zoning restrictions can be a good thing. However, if you plan to run a hunting resort or build a bed and breakfast, knowing what zoning will and won't allow can save you a lot of stress and heartache.
Don't Forget Eggs and Milk
It would be nice to think that we could live far from the city and never have to deal with congestion, but the truth is that we all need eggs, milk, and toilet paper. Before you buy far from town, especially if you plan to live there full time, make sure that you are really ready to drive an hour for coffee or milk. Rural living can be peaceful, but it has its inconveniences, like any other home.
Your Texas adventure awaits! Whether you're just looking for land at the moment, want to build a winter home away from the snow and ice, or are looking for a spot to set down some roots, Steve Klein can help you build the home of your dreams wherever you please.