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It's a well known fact that in the real estate world, location is everything. To many people, this means finding a home that is close to the heart of it all by being within easy access of modern conveniences like shopping districts, movie theaters, and fast food establishments. However, the phrase, "location, location, location" really means that where your home is located will have a huge impact on your home's value. Just look at what you'd pay for a studio apartment in New York City versus an apartment in a small town. Because of this huge disparity in home value based on location alone, more and more people are looking into homes that are slightly set apart from major cities and downtown areas. Here are just a few benefits you will experience if you choose to purchase a home in a more rural location. More for Your Money As was already mentioned, you'll pay a lot more for a house in a busy, heavily populated area than you would in a less developed area. Because the demand for houses in rural areas is relatively low, the prices are much lower. This means that you'll be able to get a bigger, nicer house without having to increase your budget. If you don't mind driving a short distance to do your grocery shopping, this a great way to save money while still getting your dream home. And, since you can get a bigger house, your family will not outgrow it as quickly, allowing you to spend more time in your home rather than having to move in a few short years. More Loan Options Perhaps you've been putting off buying a home because you don't qualify for a traditional mortgage. If this is the case, then you should start looking at homes in more rural locations. Many lenders offer special rural loans in Danville, Illinois, that you can qualify for even if you don't qualify for traditional loans. These loans are designed to encourage people to move outside of overpopulated areas into more rural locations, so you may be able to get the loan you need to purchase a home, even if you didn't think you could before. Larger Housing Plots In addition to being able to get a bigger house, you can also usually get a bigger plot of land when you buy a home outside of major neighborhoods. Because these areas are less densely populated, land is not in as high of demand, so builders can buy larger plots for less money. They can then use these large plots to build your future home, which means you get a bigger backyard for your children to run around in and to host your summer barbecues in. And, again, you'll get all this for a lot less than you'd pay in a more populated area. Safer Living When population density is lower, crime rates are naturally lower as well. By living in a more rural area, you're reducing your family's risk of becoming the victims of robbery, home invasion, and other crimes. Additionally, rural areas have less traffic, reducing your odds of being involved in an auto accident. This also makes it safer for your kids to play outside, as there will be fewer cars passing through your neighborhood than there would be in denser living areas. Living in a "rural" area doesn't necessarily mean living "in the middle of nowhere." You can be located just a few minutes' drive from a highly developed area, but still be able to reap the benefits listed above. If this sounds like something you're interested in, look into rural loans in Danville, Illinois, to see if you qualify.
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