If you’re getting ready to buy a farm, it’s important that you’re getting the right deal. Many factors go into buying a farm, so you want to make sure you have the right information before you do. Being prepared may make a difference between having a successful farm and having one that is extremely costly.
Before you buy a farm, the first step is to look into what kind of farming you want to do. Someone who is interested in farming crops is going to need more land than someone who wants to raise chickens, for example. Determine if this will be for livestock, crops and living off the land or if you plan to have just a smaller, family-friendly farm for a small store or food stand.
Once you know what kind of farming you want to do, you’ll be better able to determine which amenities you need. For example, if you plan to have livestock, then having a farm with a small creek running through it may be beneficial. If you plan to have crops, a long, flat or slightly elevated slope may be the best land you could ask for. Determine exactly how much land you’ll need, so you can get the kinds of returns you’re thinking of.
Finally, remember that acreage needs to be farmable. The real estate agent may tell you that the farm is made up of 400 acres, but if 100 acres is mountainous or rocky, it may be unusable. Always ask what the actual farmable acreage is before you make an offer.
Buying a commercial property for your farm can be tough, but your attorney will be there to help. Getting the right property with quality amenities is the key to a successful transition into farming.