Is Moving to Rural America on Trend?

This year brought with it moments of fear, anxiety, and loss for many. While 2020 will be remembered as remarkably difficult; this year also brought us home. In many homes across the country, parents stopped commuting to work, children started learning from home, and more than ever we relied on those under our roof. For many it was fishing, gardening, and even walking outdoors that kept them going during the long weeks of quarantine. Our recreation changed. Our means of socializing changed. And our way of working changed. In short, our lives changed.

Could this result in an exodus from city to rural living? Perhaps. House hunters are expanding their boundaries to consider more rural areas. But whether people are in fact moving out of cities to the countryside, as supported by sales data, is still to be determined. Rural America could be making unprecedented history as we see a reversal of the long-standing trend—more people may now be moving from rural areas to suburban areas.

At the very least, isn’t it fun to think about a move to the country? Who hasn’t dreamed of trading the commotion of the big city or the conformity of suburbia for a more relaxed life in a more rural area? But the move would need to make sense. Fortunately, there are many compelling arguments in favor of relocating to rural America.

Fewer People

The denser a population the more difficult it becomes to maintain a social distance; sometimes the task is impossible. However, with a less dense population social distancing could become almost automatic. No one is sure when or if the spread of COVID-19 will end, but one thing is for sure, it will continue to mold the attitudes of our generation. Meaning, minimizing the concern of any possible future pandemic may play into our decision making.

The slower spread of illness is not the only benefit of a smaller population. The environment benefits from less people—because there are less people, there is less traffic. Not only does this mean a more enjoyable driving experience but also better air quality.

Housing is Less Expensive

Housing costs have increased steadily over the last decade. However, cost of housing in a rural area has always been significantly lower when compared to housing in an urban area. It should be noted that while this has historically been the case it may not be in the future as home buyers’ interest in rural areas increases.

Remote Employment is More Readily Available

Originally, it was the stay-at-home orders issued across the country that prompted office workers to abandon their daily commutes, however, there has been a change in the way we conduct business leaving many to reason that things will not go back to the way they once were. Meaning, geography when compared to employment opportunities is less of a contributing factor when looking for housing.

If you find yourself considering a move to the countryside you may be in for a better deal than you imagined. The Rural Housing Service (RHS) / US Department of Agriculture (USDA) loan allows qualified borrowers to purchase a home with no down payment. The organization behind this loan program has roots dating back to the days of the Great Depression and is committed to helping improve the quality of life in rural America. With that in mind, this RHS/USDA loan program allows those who may not otherwise qualify for a conventional loan the opportunity to find home financing.

You can learn more about this RHS/USDA loan in the linked article or by contacting your Stockton mortgage banker.

 

 

Related Posts

Mortgage interest rates have been at historic lows, causing many to look into a refinance of their mortgage, and given the recent market conditions we cannot be certain how long this trend will continue. If you would like more information on why we have seen shifting interest rates, check out this related blog post. There […]

The concept of home is universal, yet we all describe home differently. Why? A home isn’t defined by it’s structure, it is the people that make it a home. We have spent a lot of time in our homes this year, making them into gyms, offices, and classrooms. But if you are like many families, […]

You have put money, time, and energy into your home—resulting in an increase in your home equity.  Additionally, in many places, property values have increased based simply on the market conditions. Did you know that you could use your home’s equity now? With a cash out refinance you can take advantage of your established equity […]