Pros and cons of buying acreage

Is a ‘home among the gum trees’ right for you? We look at the upsides – and downsides – of buying acreage.

“Why on earth would you want to live that far from the city?” It’s a question often posed to people who choose to buy acreage. But if you have a sizeable budget, buying acreage doesn’t have to mean moving to the country. It can be possible to find acreage on the fringe of the CBD where homeowners can enjoy the best of both worlds – plenty of land yet still within reach of the city.

No matter whether you choose to buy a property close to a major city, or in a regional or rural area, chances are you’re making a significant financial investment, and possibly embarking on a radical lifestyle change. That makes it important to be aware of the pros and cons of buying acreage.

I opted out of city living more than 20 years ago, swapping suburban Sydney for a home on acreage in the Upper Hunter Valley of New South Wales. Having experienced the delights – and not-so-delightful aspects – of life on acreage, I’ve rounded up some of the pros and cons you may want to consider if you’re thinking about buying acreage in a rural area.

The benefits of buying acreage in Australia

Despite the sheer size of our country, Australia is highly urbanised. World Bank data shows 86% of us live in urban areas. City living may offer plenty of convenience, but for some of us, a home surrounded by generous open space, with lots of freedom to do your own thing is a personal goal. That’s when the advantages of acreage living can shine through. The benefits can include:

The potential for more privacy

Acreage blocks come in all shapes and sizes, from ‘hobby farms’ of less than 10 acres to far bigger spreads of 100 acres plus. What they all offer is a high level of privacy simply because your neighbours are likely to be a lot further away compared to a normal suburban block.

The space to pursue hobbies

A key point of appeal of acreage is the space to play outside with kids or pets, or to pursue hobbies on your home turf that just wouldn’t be possible in the suburbs. From keeping a few horses or riding trail bikes through to growing your own fruit and veggies on a grand scale, acreage can offer the scope to do it all.

Embracing the natural environment

Along with the potential for peace and quiet, you may be interested in buying acreage to reconnect with the natural environment. There’s no doubt an acreage property can often be a haven for wildlife – anything from kangaroos to wombats and wallabies. That said, not all wildlife will be cute and cuddly. Your acreage could also be shared with snakes, and less welcome feral animals such as foxes.

Opportunities to build your dream home

If you are planning to build a new home, buying acreage can be a chance to have a home with a larger footprint than might be possible on a traditional block.

Of course, this will depend on local council building regulations, but lot sizes in capital cities in Australia have steadily decreased over the last 15 years. The Australian Bureau of Statistics says the average size of new lots for houses in capital cities today is just 467 square metres. By contrast, a one acre block is equal to about 4,046 square metres, or 0.4 hectares, which can provide ample space to construct a residence of generous proportions.

Greater affordability

Buying acreage close to a major state capital can be a luxury buy that comes with a premium price tag. But if you’re prepared to look further out in regional Australia, where land values generally tend to be lower, the cost of acreage can be relatively affordable.

Pitfalls of buying rural land

While plenty of people who live on acreage relish being part of a non-urban landscape, it is not a lifestyle that will suit everyone. Some of the less attractive realities of buying acreage can include:

Increased maintenance

There is no getting around the fact that more land can often mean more work. Unless you choose to live on a ‘bush block’ with few alterations to the natural landscape, living on acreage can come with the additional time and costs such as maintaining fencing, keeping grass short (to minimise bushfire risk), controlling weeds and potentially keeping water tanks clean and pumps in working order if your property does not have access to town water.

Fewer amenities

Suburban residents have access to a wealth of facilities that are not always be available when you live on acreage. If you choose acreage in a regional area for example, you may not be connected to town water or sewerage. Council garbage collection and even postal deliveries can be infrequent, and mobile phone connections can be patchy, with internet speeds often slower than in the city.

It’s worth noting that having fewer council services can make council rates much cheaper for regional acreage. The downside is that you could be visiting the local tip more often to get rid of garbage, or paying for potable water to be trucked to your home (which quickly becomes very expensive) during periods of drought when the water tanks run dry.

You may need a bigger buying deposit

If you need a home loan to buy acreage, the lender may require a larger deposit than for a suburban block. This is certainly something to shop around for as different lenders can have their own requirements and limitations around loans for acreage.

Home and contents cover could be more expensive

Acreage properties tend to have a few features that aren’t found in the average suburban home – like water tanks, vastly more fencing and gates, and perhaps a tractor or ride-on mower tucked away in one or more large sheds. In addition, acreage properties can come with a higher bushfire risk. These factors can impact the premiums you may pay for home and contents insurance.

Depending on the size of your property, you could potentially be ineligible for a regular home and contents policy, and instead be directed towards a small or hobby farm policy.

The bottom line

Acreage living tends to be a “love it or hate it” kind of thing, and only you can decide if it is for you or not. If you relish living within walking distance to shops and cafes, and garden maintenance is at the bottom of your favourite list of chores, maybe it’s not your thing. But if  you have a goal of relaxing into the peace and tranquility of a country home and owning a decent slice of the great outdoors, buying acreage could be a dream come true.

Cover image source: Anne Kitzman/Shutterstock.com.