For most people, specially those of us living in the cities, it is a dream to own a farmhouse which derives from the longing to escape our fast-paced, busy and crowded city-life. We dream of having a small place to enjoy leisurely weekends, sunbathing in winters and enjoying the cool evening breeze in summers. We seek solace, peace and quality time with ourselves and/or our loved ones and farmhouses match the requirement perfectly.
Points to remember before buying a farmhouse:
- Don’t believe every word you hear! Remember, every piece of advice cannot be right. Your uncle, a family friend or your brother’s friend maybe your well-wishers, but mostly advices are either personal opinions or rumors.
- Find a good real estate agent and if possible also consult a local lawyer, one who understands the local property laws thoroughly.
- Take time to sniff out issues related to the property. Don’t be in a haste while investing in property. Do your research and visit several locations before finalizing on anything.
- Decide a budget that you want to spend and also decide the upper limit that you are willing to invest.
- Remember to use your head not your heart in the matters of property. Relax and take your time to think over things. Agents often push the buyers to close the deal hastily often scaring that you may lose the deal if you don’t act upon it soon, but try not to make uninformed, enforced and rapid decisions.
- Neighbours are important. Your neighbours can be an indispensable asset, specially concerning common issues. It’s good to have support on your side.
- Remember owing a farmhouse means you will have to dedicate a fixed amount towards maintenance every month. You would also require a permanent caretaker to take care of your property as you wouldn’t be staying there on a permanent basis.
- Decide the purpose of purchasing the farmhouse – is it for investment purpose, for farming, for sports/outdoor activities or just a place to escape every once in a while. Once you are clear about the purpose, you can plan ahead accordingly.
- Check that the property should not be falling under the coastal regulation zone and hire an advocate to check all such legalities.
- Consider the sources of water on the property for irrigation as well as drinking purposes, specially if you plan on farming. The fertility of the land also plays an important role – accessing soil information is highly important.
To conclude, spend some extra time and money to reach a sensible, profitable and smart decision. Consider all the factors, don’t take advice from everyone (remember everyone has their own opinion), discuss the matter with a few close ones and involve professionals. With all the right information and people by your side not only you will be confident, but also in a better position to negotiate!