The Benefits of Choosing an Acreage Home Near Edmonton

May 27, 2022 7:00 am Published by Terry Paranych Real Estate Group

Are you tired of the hustle and bustle of city life? Are you craving the peace and quiet that only acreage living can offer? You’re not alone! Many Edmonton home buyers are quitting their urban lifestyle in favour of panoramic prairie views, rolling green acres and more room to grow.

But that’s not all these sprawling rural residences have to offer.

Here are eight benefits to look forward to when purchasing an acreage home near Edmonton:

Acreage Living Defined

Simply put, an acreage home or property is a plot of land located along the outskirts of a town or city. Though sizes will vary, the average acreage will offer anywhere between 1 to 20 acres of land (one acre = one football field) and may be situated in a stand-alone location or a larger acreage community. Although sometimes referred to as “country” homes, these large parcels of land are anything but remote and are typically established within a reasonable distance of desirable of schools, shops, services and other urban amenities.

See: 7 Amenities to Look For In Your Next Neighbourhood

Benefit 1 = So Many Home Styles to Choose From

From expansive luxury estates to quaint single-family bungalows, acreage homes come in all shapes and sizes. Depending on your specific wants and needs, acreage properties are ideal for growing families, downsizers, retirees and every lifestyle in between:

Luxury Style Homes – Luxury homes are common among acreage properties in and around the capital region. Priced at $750,000 and up, these lavish homes feature generous amounts of square footage, multiple bedrooms and bathrooms and a wealth of high-end features, including chef’s kitchens, spa-inspired ensuites, multi-car garages and more.

Lakeside Properties – Make the most of the great outdoors by choosing life on the lake! Offering incredible views and endless recreational opportunities, lakeside acreages are in high demand. Whether you opt for a lakeside acreage as your primary or secondary home, these waterfront abodes double as a great vacation location and a fantastic investment.

Check out: Edmonton Waterfront Properties

Manufactured Homes – The perfect option for downsizers and retirees, rural manufactured homes offer the best of both worlds when it comes to affordable, low-maintenance living in a country setting. In opting for a manufactured home, you’ll also be free to position your home on your lot as you see fit, while enjoying many of the same features as a regular, site-built home such as multiple bedrooms and bathrooms, open floor plans, master suites, modern finishes and more.

Custom Builds – Choose your lot, location, view, proximity to the city and even your neighbours by opting for a custom acreage home. From wine cellars to theatre rooms, custom builds allow you to design your home from the ground up – and create your ultimate dream home! Alternatively, you may opt for a pre-built custom acreage home in any one of Edmonton’s neighbouring estate communities.

Whatever You’re Looking For – Whether you’re on the hunt for a bungalow or a bi-level, a front attached property, or a spacious laned model, acreage homes near Edmonton come in all shapes, sizes and price points.

Benefit 2 = A Peaceful Prairie Setting

The biggest appeal in opting for an acreage home near Edmonton is, of course, all the space that comes with it. Not only do acreages provide more privacy, but they’re also free from the bright lights and loud noises characteristic of city life. Instead of car horns and construction, homeowners can look forward to fresh air, open skies and wildlife.

Benefit 3 = Big City Amenities

As mentioned above, life in the country doesn’t mean “cut off ” (unless you want it to, that is). In opting for an acreage home, you can choose how close (or far) you’d like to be from big-city amenities. Most acreage properties are situated within a few kilometres of the City of Edmonton proper (or its surrounding bedroom communities), and allow homeowners to access schools, shops, services, restaurants, and recreation venues quickly and easily.

Benefit 4 = Room to Grow

Whether you’re into hiking or horseback riding, acreage living provides endless outdoor opportunities for both you and your family to enjoy. Children have the freedom to explore and grow, and you can finally indulge your green thumb while having additional space for storage, entertaining, household additions (remember that inground pool you’ve always wanted?) and much more!

Benefit 5 = Potential to Build Your Dream Home

Speaking of household additions, an acreage will allow you to either build your dream home from the ground up or renovate an existing property to your exact specifications. As acreages are generally subject to fewer restrictions, including fewer zoning requirements and a more relaxed permitting process, you’ll have the freedom to do what you want with your property when you want to do it.

Note: Acreages governed by a homeowner’s association (i.e. in an estate community) may be subject to stricter rules regarding homeowner maintenance and architectural guidelines.

Benefit 6 = Get More For Less

Land in the city is always in high demand, leading to heavier competition and inflated prices. As a result, rural land tends to be much more affordable, allowing you to get more bang for your buck. Here again, this will enable you to have a larger home and more room to do what you love, all while delivering a healthy return on your initial investment (more on that below).

Note: Land prices are likely to be higher in areas closest to the city.

Benefit 7 = A Great Investment

Depending on the property, an acreage may allow you to generate additional (passive) income. For starters, land values almost always appreciate over time. For this reason, you’ll be much more likely to sell your acreage property for much more than your paid, making it a worthwhile return on your investment.

The primary factors that determine an acreage’s overall value include:

Location
Accessibility to amenities
Physical characteristics
On-site amenities (i.e., current structures, trees, waterfront, etc.)
Surrounding properties

Depending on lot size, acreage owners may also create passive income by subdividing their land and renting it out, either as a residential property, for storage purposes (i.e., R.V. storage) or as commercial/farm/ or agricultural land.

Benefit 8 = Less Competition

Another key benefit of purchasing an acreage near Edmonton? It’s almost always a buyer’s market. With more acreages on the market than buyers, acreage home hunters have ample inventory to choose from. This allows you to a) take more time to make the right decision, b) benefit from reduced property prices, and c) increase your negotiation power when making an offer.

Key Things to Consider Before Buying an Acreage Home

While there are plenty of perks to acreage ownership, it’s not without its own unique set of challenges. Here are a few things to consider before opting to buy an acreage property near Edmonton:

Sewer- Septic tanks and septic fields are standard to most Edmonton and area acreages. Unlike the city, where water is whisked away to a sewage treatment plant, many rural properties require separate treatment systems. Owners will need to empty and service the tanks as needed while ensuring the system has enough capacity for their families.

Wells and Cisterns – Acreages typically rely on wells or cisterns for water delivery. An acreage property may be equipped with either system, though both rely on pumps and pressure tanks (aka electricity) to operate. Wells must be treated regularly with shock chlorination to prevent bacteria growth, while cistern water is often delivered and pre-treated (though it may still be subject to contamination).

In either case, you’ll be faced with additional fees and maintenance you wouldn’t otherwise have with an urban home. Be sure to talk to your Edmonton REALTOR® to determine which system is right for your needs.

For more information, see: Choosing an Edmonton REALTOR®: 8 Questions to Ask and Why

Staying Connected – Depending on an acreage’s location, staying connected may also pose a challenge. As such, certain acreage properties may require a wireless data hub (via satellite, cellular provider or fixed wireless) to prevent poor cell and internet service.

Garbage Collection – Remembering garbage day is about as complex as waste removal gets when living in a town or city. But who’s responsible for waste collection in rural areas? Depending on where you live, you may be required to look after your own waste disposal or subscribe to a local waste collection service. Your waste removal may also be overseen by your local homeowner’s association or via a subscription through the county for an additional fee.

Animals Per Acre – The ability to own larger animals (horses, cows, sheep, etc.) presents yet another major draw of acreage living. Depending on the subdivision or county, however, there may be specific rules regarding how many large animals you may own per acre. Strathcona County, for instance, maintains a limit of one animal per acre on parcels of land 20 acres or less.

Landscaping and Upkeep – As more land equates to more upkeep, acreage homeowners will need to be prepared to do more mowing, snow removal and landscaping. These everyday maintenance tasks may also require specialized equipment such as a ride-on lawnmower, tractor, power tools, etc.

Alternatively, some acreage communities are governed by a homeowner’s association, which may oversee the maintenance of common areas for a fee.

Tax Considerations – Depending on the size and use of your acreage land, the Canada Revenue Agency may consider your home GST exempt. On the other hand, you may have to pay GST upon the land’s purchase or sale. Real property taxes and land transfer tax will also vary, so be sure to consult with your REALTOR® and a professional accountant beforehand.

Financing – Unless you’re purchasing an acreage for commercial purposes (i.e. to raise crops or livestock), acreage homes and urban homes undergo a similar financing process. For example, acreage properties priced at $1 million or under may be purchased for a minimum 5% down payment. However, there are a few acreage-specific criteria that must be met before financing is approved. These may include:

Residential lending value: Your loan and down payment are not determined by purchase price but by residential lending value – a property appraisal which considers the value of the home, garage and up to ten acres of land.
Remaining economic life: The current home must be in good condition.
Specific paperwork: Water potability, septic and/or well drilling certificates.
Etc.

Note: Acreages exceeding $1 million will require a down payment of at least 20%

Finding the Right Edmonton Acreage Agent

When looking for the right acreage property to call home, it’s essential to work with a qualified professional who understands the Edmonton acreage market. As one of Edmonton’s leading rural real estate teams, the Terry Paranych Real Estate Group has the skills, professionalism, and experience to guide you on your acreage buying journey from start to finish:

Determining your acreage wants and needs
Getting pre-approved for an acreage mortgage
Finding the right acreage home
Making an offer and negotiating with acreage sellers
And more!

For more information on acreage homes in and around the capital region, check out our latest acreage listings or reach out to us! We also invite you to take advantage of any one of our FREE home buying resources, including:

The Terry Paranych Group Dream Home Finder: Make your new luxury home dream a reality with the help of our personalized Dream Home Finder.

20 Common Mistakes To Avoid When Buying A Home: Even the most seasoned home buyers make mistakes. Avoid common home buying pitfalls with the help of our free guide!

Exclusive Home Buyer Blog – The go-to resource for anyone looking to purchase a home in or around the capital region!

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Tags: buying, spotlight

Categorised in: Communities, Home Styles

This post was written by Terry Paranych Real Estate Group