Posted by: davidgarnerconsulting | March 23, 2010

Investing In farmland – Buying the perfect Piece

Click here to Download a FREE Guide to Farmland Investment and Agricultural Land Investment

While all across the country there are home buyers looking to buy real estate, not everyone who is looking to buy is searching for a city lot with a house as the focus of the purchase; many people in a variety of areas are looking instead to buy a piece of farmland. Farms can vary at least as much as homes do, so just like when you’re buying a house, it’s helpful to have a good idea of what your needs and wants are and communicate that to your Realtor so that they can help you achieve your goals.

When you are looking for a farm property, first make a list of the features that you need to have. Are you planning on growing a crop on your land or will it be used primarily for raising livestock? Do you need fields for grazing or ponds for swimming animals or water storage? Are you looking for a property that has a barn or stables on it already, or are you just as happy to build your own?

Determine how much acreage you think that you need and what portion of it needs to be tillable land you will require for your farming needs; many specialty crops require quality topsoil to produce enough product to make money while many types of livestock require pasture instead. Consider not only your immediate needs, but also what requirements you will have if you choose to expand your farming in the next five to ten years so that you’re prepared for that eventuality.

Click here to Download a FREE Guide to Farmland Investment and Agricultural Land Investment

If your farming is going to require watering, which most types do to some degree, you will need to consider what sources of water that any farmland has that you’re interested in. Not all areas have the same types of water rights; in some areas you may not have the right to drill a well to water your crops or livestock, while other areas may not have any restrictions. Know what your water needs will be before you start looking for land so that you are aware of what will fit your needs.

Last, but not least, consider your housing needs; are you looking for a farm that has a good farm house on the property already or would you prefer to build one to your specifications? Likewise, communicate to your Realtor what sort of outbuildings you’d prefer to see on a piece of property if possible; it could save you a fair amount of money to buy a fitting piece of farmland if it already has a garage for machinery, a cottage for a farm hand or two, or even just adequate fencing in your pastures. As with any real estate transaction, the key is good communication about your wants, needs, and expectations with your Realtor.

Click here to Download a FREE Guide to Farmland Investment and Agricultural Land Investment

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