Most of us live in the cities but of course, there are those folks that prefer to live on a big swath of land under the clear blue country skies. Rural living has its advantages as anyone stuck in rush hour traffic in the city will tell you, but there are some very real financial and lifestyle considerations you need to take into account before you pack the family up and move.

First and foremost you’ll need to have your rural home loans mortgage approval papers in a check if you want to live in an older house with a sewer and septic system. Many lenders would much rather write a check to a family that lives around the more modern amenities, but that’s not to say that FHA home loans or other kinds of mortgages are out the question. Still,  it’s a good idea to make sure  you’ve got a solid  employment history and decent credit rating at the ready before you apply for Arizona home loans approval when you want to be in the country. While that’s true if you plan on living in the city, lenders want to be doubly sure you don’t present any unnecessary risk for non-payments if you plan on moving out.

There are some other big differences you need to think about as well. Some recent studies point to the fact it will cost more to run and operate a vehicle when you live on the outskirts of a bigger city.  Rural homeowners spend more on things like gasoline and motor oil than their urban counterparts and the same study points out that city dwellers who have homes make as much as 32%  more than country households. These are just a few of the factors you need to account for when you’ve made up your mind to get  rural home loans and want to budget accordingly.  

Keep in mind some lending institutions have one set of rules for Arizona home loans in the city and more stringent requirements for their rural counterparts. While FHA home loans are available to both kinds of people looking for a mortgage, you might need a better gross salary per month at your current job if you plan on living in the country when you apply to get approved. Statistics show that urban homeowners actually spend 18% more on renovating their dwellings and this does more to increase the resale value.  

Keep in mind there are some other factors to think about before you seriously look at  Arizona home loans out in the country. There are more than a few lifestyle changes to make and although the city generally has all of the shopping, healthcare and other amenities close, a country lifestyle provides the peace and quiet to raise a family in a more wholesome setting.

However there are more job opportunities living in a metropolitan area and this can become a major driver for younger people looking to make the decision about where to live. Whether you choose the wide open spaces or the hustle and bustle of the city,  it’s important to work through a checklist and get the Arizona home loans that suit your future plans.