Rural Vs. Off-Grid: Differences From A Real Estate Standpoint
You are in the process of searching for the home where you will spend your life, and you are attracted to both rural and off-grid homes. It can be difficult to decide which type of home is better suited for you and your budget, but you should also know that shopping for each unique type of home can bring about some differences. Here are a few differences between off-grid and rural homes from a real estate perspective.
Rural houses tend to be more expensive than off-grid houses.
Off-grid houses do tend to come along with more acres, which can drive up their value. However, off-grid houses do not always have all the amenities as the typical country home would have. Rural homes are also in higher demand, which can also mean they can be more expensive.
Off-grid houses are harder to find as a buyer.
Off-grid houses take a lot of time to build, and finding one of these houses already move-in ready is a bit more of a challenge than finding a rural home ready to move into. It is always good if you can work with a real estate agent to help you track down either property, but having an agent can be especially helpful if you are looking to go off the grid.
Off-grid houses can be harder to find financing for from a lender.
Even though off-grid houses can be valuable in the eyes of a prospective owner, some lenders are finicky about offering a loan for these properties. The houses can be a bit harder to sell because of their out-of-the-way locations, and they can also be a bit harder to insure because they can be hard to get to in the event of an emergency. Nevertheless, you may still find financing; you just have to find the right kind of lender.
Rural houses don't stay on the market quite as long.
Since houses in the country are in higher demand than your average off-grid home and are easier to obtain financing to pay for, it is usually the rural homes that sell the fastest out of the two types of properties. If you scout out a nice prospect in the country, this is not a property that will likely sit idle long. This is one reason why it is best if you already have approval for a certain mortgage amount before you start to shop; it allows you to act quickly when you find something you like.
Reach out to a professional for more information about finding real estate.