The prospect of building in the heart of the countryside is a dream for many people. But as any visionary rural builder knows, bringing a dream to life requires planning. In an age of change and complexity, working with a steadfast financial advisor is not just beneficial—it’s essential. AgCountry Farm Credit Services provides the support you need to transform your rural retreat into a reality with a customized experience.
Focused on You
There are big decisions to make when pursuing a construction project in the country. You need someone on your side to help eliminate stress and take the emotion out of it. Each situation is different. Despite some homes being cookie-cutter, your experience should be anything but. We firmly believe in providing unique consultations for each situation we work with. We are with you every step of the way, starting at the beginning by preparing you for what is to come. While other lenders focus solely on finances, we focus on the entire process. If you do not have someone going above and beyond for you, you are not truly being taken care of.
Steer Clear of Pitfalls
Before the first nail is hammered or the foundation laid, understanding the nuances of rural construction loans is paramount. The financial landscape can be a challenge for those who have not recently borrowed funds or kept up with today’s costs. AgCountry guides customers away from these common pitfalls, offering steadfast advice on trends, market values, and the intricacies of securing rural properties. Our seasoned staff attests that the demand for rural projects has not waned but flourished, emphasizing the importance of wise planning in a competitive market.
The Realities of Materials and Labor
Rural construction is not just a matter of bricks and beams—it is about building resiliency and timelessness. Recent fluctuations in the availability of materials and labor have introduced new variables that impact the cost and schedule of construction. AgCountry’s hands-on approach ensures every dollar is accounted for, with detailed cost categorizations and allowance for eventualities. Staying actively involved in the entire process safeguards customers against unforeseen burdens that can often accompany construction.
Insurance Considerations
An often overlooked yet critical aspect of home ownership is insurance. AgCountry does not offer homeowners insurance, but we believe it is critical to homeownership. Many rural homeowners are unwittingly underinsured with replacement costs outstripping market valuations. If a homeowners insurance policy has not been reviewed in the last two years, we recommend contacting the issuing agent as soon as possible to ensure that your equity is adequately protected in the event of an adverse catastrophe. This step is fundamental in safeguarding the substantial investments of rural properties, underscoring the evolving nature of home insurance in rural settings.
Think Long Term
Today’s interest rate environment is a stark difference from only a couple years ago. Higher rates can scare away some homebuyers, but demand for rural properties remains strong. It’s important to focus on the long game and know the options available to you. AgCountry offers a unique rate conversion feature that allows a mortgage holder to refinance annually at a lower rate for a nominal fee. We cannot say when interest rates will drop, but all homeowners should be prepared to leverage their window of opportunity.
There is a lot to consider for rural construction projects. Working with a lender who guides you through the entire process and understands the challenges and opportunities of today’s market is important. AgCountry is here to turn your rural dreams into firmly rooted realities, offering insight, customized financial options, and dedicated customer support. Whether you are looking for the first plot of land or adding to a homestead, AgCountry is here to ensure that your rural project works for you.
Contact your local AgCountry office to learn how we can assist you every step of the way.
