As summer comes to an end and hunting season approaches, the idea of purchasing your own hunting land may be floating around in your mind. For any avid hunter, fisher, or outdoor enthusiast, owning your own land can make each trip even more enjoyable. When deciding to purchase your own hunting land, there are a few things to keep in mind.
How to Buy Hunting Land
Understanding the process of buying hunting land can help you decide if the purchase is right for you. Typically, buyers start with a prequalification process similar to the process of purchasing a home. If you’re thinking of purchasing your own hunting land, get prequalified early! Hunting land is in high demand and offers must be put in quickly to secure your dream property.
While going through the qualification process, keep in mind many lenders like GreenStone require a 20 percent down payment for hunting land. Another part of the loan conversation is interest rates and amortization schedules. The most common loan type for hunting land is a 30-year loan because it will keep the monthly payments lower.
After your purchase offer is accepted, your lender will conduct an appraisal and discuss various aspects of the property with you, such as if the property is wooded, if it has tillable areas, and ensure it has road legal access and necessary aspects required for financing.
We are here to help you every step of the way! You can always reach out to your local financial services officer with any questions you may have before, during, or after this process!
Benefits of Purchasing Hunting Land
Hunting land is becoming harder and harder to come by and having guaranteed access to leased land can also be hard to obtain. When using land owned by someone else you can run the risk of your access being denied. Unfortunately, leased property can change ownership at any time and imagine losing access to hunting land right before the season begins.
With your own land you are always in control! You never have to worry about missing a season and you can make all of the decisions for the use of the land. You can decide to develop habitats for wildlife, dig a pond, plant crops, or enroll in a state funded conservation reserve program. Whether it’s deer lures, or trout habitat, this control can help you improve the quality of wildlife on your land and raise the overall property value for future resale.
Historically, real estate value is continuously rising, meaning once bought you may have the opportunity to earn a return on your investment if you have a need to sell it later.
When you decide the time is right to make the purchase, we recommend speaking with a local realtor who specializes in hunting land. In this competitive industry, it is best to have someone who knows the area and can help you find your dream property. Remember to always tour the property, keep an eye out for environmental concerns, and make sure the land is perfect for all of your goals!
And when it comes to financing, visit Our Locations | GreenStone FCS to speak with your local financial services officer and start working toward your dreams today!
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