Real Estate

Buying a house in rural area

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  • Jun 25th, 2016 5:43 pm
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[OP]
Jr. Member
Feb 6, 2008
121 posts
145 upvotes
Toronto

Buying a house in rural area

I want to buy a house in a rural area , it's on a 2 acre lot has a septic tank and well.
What kind of things should I be concerned about?
11 replies
Member
User avatar
Jan 11, 2010
314 posts
30 upvotes
Toronto
Security...try to get some security camera's installed.
Winters...i guess rural roads are the last one to get cleared, invest in nice vehicle.
Power backup....backup yourself with a generator or two in case of power outages, as it might take couple of days to be serviced in the event of storms.
Deal Addict
Aug 30, 2011
3462 posts
1221 upvotes
Ottawa
We lived 20 years in a rural area. Never locked our doors, wouldn't think a security cam necessary but to each their own.

Get an inspection before buying, a new septic or well can be very expensive. We did a new septic when we bought because the previous owner just pumped the contents onto his vegetable garden every few years :eek:

Also, taste the water. Ours was excellent, but some is terrible.

Agree about the power backup. Check the heat source, we didn't have access to natural gas and paid more 10-20 years ago for heat (oil and baseboards) than we do now in the city (natural gas furnace).

We never had a problem with delays in snow clearing, in a township that is rural, I guess the main roads have priority but that's the same in the city too.
Sr. Member
Aug 30, 2008
903 posts
181 upvotes
ON
whether the whole place can be considered your principal residence :lol:
Deal Addict
Mar 27, 2015
1472 posts
571 upvotes
Thornhill, ON
If it is going to be your biggest asset, ask yourself if you would be able to sell it quickly should you need money in a hurry, or for that matter, if and when you want to sell for any reason. Many rural properties that are for sale sit for YEARS before they are sold.
Deal Addict
Apr 4, 2013
1274 posts
407 upvotes
Depending upon how far outside a major city the property is, you may find some mortgage lenders will not lend in the area. One of the criteria that lenders look for is whether the property is marketable - as in quickly marketable should they have to do a power of sale. You may also find that some mortgage lenders who will lend will want independent inspections on the well and septic and may require large down payments.
[OP]
Jr. Member
Feb 6, 2008
121 posts
145 upvotes
Toronto
Thank you, guys.
Deal Addict
User avatar
Nov 10, 2015
2243 posts
853 upvotes
Monte Creek, BC
Is there fire protection? Is there a volunteer fire department or maybe no fire protection at all. This will impact your insurance coverage.
Deal Fanatic
User avatar
Feb 2, 2014
8873 posts
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Toronto
dshul wrote: I want to buy a house in a rural area , it's on a 2 acre lot has a septic tank and well.
What kind of things should I be concerned about?
Roads are another concern. I would inquire to see if they are maintained.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Banned
Mar 11, 2016
2081 posts
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well and septic can be huge $$$$ if there are any issues...do some research...replacing either can be 10-15k
Banned
Mar 11, 2016
2081 posts
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oh ...if its a dug well...run run away...drilled only
Deal Fanatic
User avatar
Sep 8, 2007
9018 posts
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Way Out of GTA
Fjr2005 wrote: oh ...if its a dug well...run run away...drilled only
Nope. Just budget for drilling another well. If in Ontario you can go on the MOE website and see what depth and Gpm wells in the area are getting. If there are close neighbours ask about their wells. Keep the dug well for washing the car, watering the lawn or something like that.

There is zero reason to run from a property due to having a dug well.

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