If you are thinking about buying land for the first time with the intent on using it for farming, there are a few things you need to know. Naturally, you will need a certain amount of money. How much money you need is easily discovered by speaking to a land broker in the area you are looking to buy. But before you take that step, you need to define exactly the type of land you are looking to buy. The following are a few important things to consider.
How much land can you farm?
Assuming you know what crops you plan on growing and that you can find suitable land for farming, you need to calculate how much land you can work yourself. Of course, this will take into consideration what pieces of farm equipment you will be using, as well as other people you may plan on hiring to help you. All of this will determine the acreage you will be looking to purchase.
Do you plan on living in town?
There are those who farm land but live in a nearby town, storing farm equipment in a barn. If you are thinking about this, you need to consider how far you will be commuting to the land. This is fundamentally no different than commuting to any other job. A long commute can be tiresome, and you may find your new life as a farmer wasn't what you thought it would be.
Do you plan on living on the land?
If you want to plant crops, will you live where you work? If so, you may want to build a house on the land, but you will need to make sure that local laws allow for this. Some farmland is restricted to farming only. However, you may be able to buy land with an existing home.
Do you plan on raising livestock?
You need to think about this because it often goes hand in hand with farming. However, you may be able to farm the land, but there may be county laws that prohibit animals. Even if you don't plan on any animals today, you may want to have the option in the future.
Do you plan on reselling the land in the future?
Farming land is different than a house, you need to consider the sellability of the land. It is not like houses and other similar properties that can be improved. Farming land is used to grow crops. Besides the crop you plan on growing, are there other possible crops on this land and in the area.
All of the questions above should be answered before you buy farming lots for sale. There may be other things you require in farmland. If you can write down all of your requirements, a land broker will be able to narrow down the possibilities for you.Share
18 June 2019
Although I've never worked professionally in the real estate business, I sure know my way around it. How, do you ask? Well, I have simply rented a lot of different places and worked with a lot of different landlords and real estate agents. In the past 7 years I've lived in 11 different houses or apartments, none of them my own. In finding those 11, I have looked at literally hundreds of apartments. I used to hate house hunting, but now it's kind of fun. You just need to know what you want and the right questions to ask. Hopefully this blog can help you learn some of the tricks of the trade from another renter like yourself.