Have you ever sat in snail’s pace traffic on your daily commute and dreamed of owning a small acreage with fresh air, green fields and not a traffic light for miles?
It’s really up to you whether this is just an idyllic daydream or an aspiration you can turn into a reality.
Even for those trapped in office work, the recent acceptance of remote working arrangements has offered a greater scope of possibilities for how we wish to live our lives.
As an experienced agency in your area, we’ve worked with several clients who’ve decided to sell in the city and move to the country in search of their perfect work/life balance.
And they are not alone. Many Australians are quitting the big smoke; some fleeing Covid and the prospect of more pandemics, and others choosing to work remotely. The Australian Bureau of Statistics has forecast our regional populations will double by 2076.
If you fancy owning some acres – or hectares, to be metric – we’ve put together a quick buyer’s guide to help get you started. We recommend you speak to experts on the topic, such as a specialist in rural loans and the local council.
Scope of ambition
You should be clear on why you want so much land. Are you planning to run cattle, goats or plant an orchard? Your goal will determine the most suitable land.
Mother Nature
We all know she can be unforgiving. So, ensure the local climate is suitable for any farming plans. Also, assess your bushfire risk. You may need to spend money on land clearing to safeguard your new home and sheds.
Critical issues
Your due diligence will include a critical view of the land regarding zoning, water supply, electricity connection and general access. You’ll also need to test the soil if you’re going to have animals or plant trees or crops.
Isolation factor
Check the land receives a strong mobile signal and adequate internet access. It’s no myth that both are notoriously dodgy beyond the town or city limits in the country. If you have children, be sure a school bus runs past your property.
Size matters
Two hectares doesn’t sound very much. But it’s the equivalent of 20,234sqm, and the average suburban block is 250-350sqm. So, perhaps think twice if you’ve got your eye on a 50ha spread.
Land maintenance
Even with 2ha, keeping your land in good condition is time-consuming. Unless you’re keeping animals, you’ll want a ride-on mower and a couple of hours each week to cut the grass. Restrict your land size to what you’re prepared to maintain.
Bank on it
Obtaining a loan to buy farmland will be more complex than securing a typical mortgage. Talk to your broker about what a lender might require in terms of collateral, cash deposit and business projections.