Dreaming of a home in the country, surrounded by acres of your property, with room to build a shop, store all your toys, maybe livestock, or just room for your loved ones to play? You devote immeasurable hours imagining what you want, but may not know exactly how to find it and buy it. When a perfect Craftsman bungalow with a killer shop, and spring-fed five acres finally does appear, you need all the advice you can get about how to make the best possible purchase. After all, buying a home, or buying a home with land, is certainly one of the biggest single expenditures you may ever make. Once you’ve purchased your dream home, watching loved ones enjoy the space, a life free from noisy neighbors, an overzealous home owners association, or an overcrowded garage can bring you great peace of mind.
|Search Homes for Sale in Snohomish County||Homes With a Shop|
|Lake Stevens Under $300,000||$300,000 to $400,000||$400,000 to $500,000|
|Marysville Under $300,000||$300,000 to $400,000||$400,000 to $500,000|
|Snohomish Under $300,000||$300,000 to $400,000||$ 400,000 to $500,000|
Here are three strategies and loan options to getting the home you want with some acreage for some elbow and breathing room!
How To Buy Your Snohomish County Dream Home On Acreage Land:
1) Look for an established home with the amenities you want. This is definitely the easiest route. Finding a home on 5 acres with a shop already built and a gorgeous home for the right price is ideal. This option will allow you the most flexibility in your financing as well. You can purchase a home like this with a VA, FHA, or Conventional loan, especially if you are pre-approved. But….this can be a bit of a needle in a haystack. The perfect property with a great shop that you love, is very likely many peoples ideal property, so be prepared to have some competition and act quickly when you find the right property.
2) Close enough…. If the perfect home, land, and amenities are elusive to find, go for close enough. Look for a home that is a lower asking price and perhaps is missing some of the upgrades you would like. Then build your shop or other outbuildings and perhaps do some home renovations to make it the home of your dreams and build some instant equity. Depending on the condition of the home the financing piece of this purchase should be fairly flexible. VA, FHA, USDA, Conventional loans should all be available. Contact me for referrals to reliable shop builders, contractors and loan officers.
3) Buy acreage and build. If you just can’t find what you are looking for, you may opt to buy that perfect piece of property and hire a builder. However, be aware this is a lengthy process, will require you to install utilities, and the financing options are not abundant. For this type of a purchase you will need a larger down payment with a land loan or construction loan. These can be difficult to find so contact me and I will refer you to a lender that works with land and construction loans. I can also refer you to Builders who work in the area and are familiar with local regulations.
BONUS tip: Instead of buying acreage opt to look for a fixer or tear down on a stellar piece of land. Sometimes the shop or outbuildings on these properties are far nicer than the house! This could allow you more financing options and you will likely have utilities (well, septic, electrical) already in place. This is a money saving option over buying raw land.
Buying a home with property can improve you and your loved ones quality of life greatly. Educate yourself and make the move into a home that fits your lifestyle.
Keller Williams NWRE LLC
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