Buying a house with acreage is a goal for many home buyers across Australia. Whether it’s to escape the hustle and bustle of the city, to have more space for hobbies, or just to have room for some horses, acreage properties are a great option for your new home.
However, acreage homes aren’t without their considerations. You’ll need to think about a few things when you’re looking at acreage to make sure it’s actually right for you. To help you out, we’ve put together this guide for what you need to know about buying a house with acreage.
With more than 20 years’ experience, Darren Walters has an in-depth of understanding of banks and lending policies. This enables No1 Property Guide to provide a complete range of no or low deposit new home options across Australia. Including acreage homes! Fill in our pre-qualification form today to find out your factual new home options.
What is an Acreage Home?
An acreage home is a property that is at least an acre in size. An acre is 4,047 square metres. So, anything that size or larger can be classified as an acreage property.
Pros of Buying a House with Acreage
From extra space to fresher air, there are plenty of great reasons for buying a house with acreage.
We’ve mentioned it a few times, but buying a house with acreage means you’ll get plenty of extra space to spread yourself in. Especially if you’re used to renting a unit or apartment. Whether you use it to create a stunning garden, to raise some horses, or just enjoy having the space to play with the kids or grandkids, no one can deny that extra space is always a big win!
Peace & Quiet
This is a no-brainer but being so far out of the city means you’ll be far away from the sounds of busy traffic, trains, sirens, and neighbours. Living on an acreage means you’re away from all the lights and sounds of the city and you can enjoy the peace and quiet of nature.
While acreage blocks might seem expensive, they’re actually extremely affordable when you consider the price per square metre. Land generally gets cheaper as you get further and further from the city. So, an acreage property will most likely be more affordable per square metre than an inner-city block! Of course, acreage that is used for commercial purposes is valued differently than residential land so it will generally be more expensive and harder to get finance approval for.
Cons of Buying a House with Acreage
While there are plenty of benefits to an acreage home, there are also a few downsides you’ll need to consider as well.
Unsurprisingly, an acreage property is going to be a fair distance from the city. So, if you need to drive into the city or nearest town every day for work, you’ll be in for a lot of driving. This also means you’re a fair way away from any schools, grocery stores or retail shops. Just make sure you don’t forget your milk on the way home!
Another downside of an acreage home is the maintenance that comes with it. The amount of maintenance you’ll need to do will vary depending on what kind of look you’re going for. But you’ll want to consider the cost of maintenance tools like a mower, brush cutter, hedge trimmer, chainsaw etc. This will also eat into your free time. And considering the size of your property, can also take up a good chunk of your weekends.
Phone & Internet Coverage
On top of the distance from the city, your acreage property will most likely also be out of range of good phone and internet coverage. There are options for increasing your coverage if you really need it, these can be quite expensive though. But, if you’re planning on working remotely, this might be your only option.
How No1 Property Guide Can Help
If buying a house with acreage sounds like a dream come true to you, No1 Property Guide can help! Darren Walters, CEO and Founder of No1 Property Guide, has developed relationships with builders and developers across the country. Giving us access to some of the most exclusive lots and developments in Australia.
And this includes acreage lots!
Utilising Darren’s unique no or low deposit system, No1 Property Guide can calculate your borrowing capacity and discover all your factual new home options.
By using our pre-qualification form, we’re able to get an accurate estimate of your borrowing capacity and can find acreage properties that fit your budget. We will then tailor your application to suit lender requirements to increase your chances of approval.
Contact our New Home Specialists today to get started!