Acreage living and financing

Acreages are a great option for those who want to live a more laid back lifestyle while being surrounded by nature in a peaceful and tranquil environment – a stark contrast to the hustle and bustle of city living.

But if you’re dreaming of owning a home in the country and you’re not familiar with the responsibilities that come with owning an acreage, you could be in for a big surprise once you settle into your new lifestyle. Before you take the plunge, here are some things to consider before picking out a patch of land.

Life in the country is very different than in the city – but that’s not necessarily a bad thing! Living on an acreage means you’re a lot closer to nature. You’ll have the opportunity to view wildlife from your kitchen window or enjoy the sound of nothing but the breeze and birds on your deck after a long day. Sounds rather idyllic, doesn’t it? But while you’re closer to nature, acreage ownership also means the environment has a much more direct impact on you and your property.

As an acreage owner, you’re responsible for ensuring you have safe drinking water and making sure the well has the appropriate quantity of water needed to maintain your family’s requirements. There are also things like maintaining a septic system and private access roads, managing pests, disposal of garbage and certain aspects of flood and fire risk management that you’ll be responsible for.

There are municipal, provincial and federal regulations, bylaws, policies and laws you’ll need to follow before you build any new structures, renovate, clear land or set controlled burns, for example.

You’ll want to be aware of the land around your new acreage so you have a good understanding of what can and can’t be done to your land. For example if the land next to you is considered protected land, you may not be able to develop or altered it in any way. You’ll want to check with the municipality to find out about any possible future developments or subdivisions on land near you.

Financing your acreage

So you found the perfect place to call home – now all that’s left is the financing! Affinity can help you achieve your dream of owning an acreage.

If you’re using any of the property to earn income by producing products or animals or agricultural land rental, you’re likely in need of an agriculture mortgage. But don’t worry, we can help with that too!

Owning an acreage isn’t for everyone, but for some, it can be everything. We’d love to help you with a mortgage for your dream property. Give us a call at 1.866.863.6237.