Avoid Nightmares When Buying the Rural DreamSteady growth in regional Victoria house and land prices indicate the sea-change trend is continuing, according to First National Real Estate Victoria chairman Keith Sutherland.
But people buying a rural property, whether for a lifestyle change, to save money on their mortgage, or for investment, should consider a number of factors to ensure they make a wise purchase decision, Mr Sutherland said.
· Fencing. Good fencing is an important value-add. If fences are in disrepair, or need to be installed, this should be factored into the purchase price. “Do your sums carefully, as you may find you need to spend money on a basic requirement like fencing as soon as you move into the property, particularly if you plan to have pets or run any livestock,” Mr Sutherland said.
· Water supply and quality. A water tank, a dam or bore water access, and a connection to town water are all highly desirable features for a rural property, particularly in inland areas.
Contact Gerry Smith First National