Imagine heading to your mountain chateau with the family where you enjoy mountain climbing, hunting and swimming in the summer. In the winters, your family may go snowshoeing or cross-country skiing while viewing the wildlife. There are no curfews and no resort staff telling you it’s time to pack up and leave so they can clean up the rooms for the next guests who have booked some vacation time.
Recreational land provides people with a place where they can get away from it all, slow down their hectic lives, and enjoy the great outdoors. Whether it is going to the mountains, lakeside, beach, forests or rolling countryside, buying land for recreation activities allows you to have fun at your own private resort destination.
You want your recreational land purchase to go as smoothly as possible, of course. Before emptying your savings on this real estate venture, here are several tips you can use to have an easier buying process and to decide on the right recreational property for your needs.
Figure Out the Activities You Want to Enjoy
To determine a location for the recreational land you want to purchase, you need to figure out what you want to do on the property. Do you plan to raise horses, enjoy water sports, engage in winter activities, go hunting or just relax on the beach? Once you understand the types of things you want to do on the land, you can narrow down where you want to purchase the property. In addition, you can figure out the size of the recreational property so you purchase enough land to do everything that you want without buying more than you need.
Keep in mind that certain neighborhoods and local jurisdictions may have laws in place on what activities are permitted on the property. You may be restricted on what additional buildings you can erect due to zoning rules or there may be hunting regulations involved at the location.
Select the Type of Home on the Recreational Property
There are a range of home styles that would accommodate you or your family. You will need to decide whether you want to purchase recreational property with an existing house, or to have a home built on the land. With a custom-built home in rural or remote locations, you will have to plan out water, sewage and electrical lines. In addition, we may also have to determine routes on how to access the property during certain times of the year due to bad weather conditions.
If you are purchasing an existing house, you will want to perform a comprehensive inspection. Unlike houses in urban and suburban locations, a more remote house won’t normally have water and wastewater lines connected to nearby municipal services. You may have well water or a privately-owned community water system, and have a septic tank system and leach field. Also, find out what other structures are included in the sale of the recreational property, such as portable sheds, barns, gates, fences and farm equipment.
Know How Much Time You Will Spend on the Recreational Property
You will have to figure out whether the recreational property will become a new permanent residence or a vacation spot. Some people will rent out the recreational land to others during the times of the year when they don’t plan to use the house and land. Another option may be to get involved in a co-ownership arrangement where you and a relative, friend or coworker purchases the recreational property jointly and shares the house, mortgage and upkeep costs.
Buying land for recreational use can be the best thing for people who love the great outdoors. Yet it also features unique challenges you may not be prepared for that could sour the deal. Working with a real estate agent who is familiar with recreational real estate can allow you to find the right place that fits into your homeownership needs.