It is a privilege to be able to live in the lap of nature in today’s day and age. With most major Indian cities being heavily polluted, who wouldn’t love the freedom to breathe fresh air each day? Owning a farmhouse can give you exactly that but consider these factors before buying one.

Confirming your Decision

Owning a farmhouse is not all sunshine and rainbows – it includes a lot of hard work. Before making a purchase, logically consider if you are ready for a lifestyle of labour instead of being swayed by the appeal of a pastoral landscape.

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Understanding the Property

Before making a commitment to your farmhouse, ask yourself these questions about the property:

• Is it Zoned Properly? If the farmhouse is zoned for growing crops only, then you would not be able to raise livestock on it, which may be a deal-breaker to you as it might reduce the return on your purchase.

• What is the Extent of the Property Lines? Although your farmland can look like it stretches off to the far horizon, the owned property may end up being only a fraction of the area you see. Confirm what the limits of your property are instead of assuming.

Assessing Your Finances

It is necessary to consider your finances when it comes to:

Home Loans – If you choose a home loan with a high-interest rate or EMIs, the return from your farmhouse may not be able to cover it. Choose your home loan wisely.

Taxes – Find out the approximate amount of taxes you would have to pay before buying farmland, as apart from the housing loan, this would likely be your biggest expense. Different types and sizes of farmhouses and farmlands may have different tax rates, so make sure you know how much you will be paying.

Manpower and Market – Is there a market for what you want to cultivate? If there is, make sure that you have the money available to hire adequate manpower.

Checking for Services

Cell service is something that is impossible to live without today, so that is one facility you should definitely make sure of, since service can be spotty on farmlands. If the farmhouse is old, you may also need to replace the electric wiring.

Additional Read: Important Things To Consider Before Planning To Buy A Second Home

A good supply of water is also essential, and this water should always be tested for pesticides and other contaminants. You should also look out for very old buildings and structures on the land which may end up becoming liabilities on top of the monthly housing loan payment.

Tata capital home loans give you the opportunity to live in your own romantic farmhouse, surrounded by cattle and greenery, with easy home loan EMIs and lowest interest rates that allow you to pay more as your income grows. With the highest housing finance eligibility, applying is a piece of cake. Own your dream farmhouse with Tata Capital.