Understand The Purpose of Your Farm Property Purchase | United Country Real Estate

August 16, 2023
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Before you purchase a farm property, it is important to understand what your purpose for buying it is. Read helpful tips on choosing the right one!

Understand The Purpose of Your Farm Property Purchase

When making a purchase as important as a new farm property, long-term use will be the main guideline for locating the best piece of land. Each farmer expects different conditions depending on what kind of operations will be carried out and overall, how the farm is intended to be utilized.

Working with a knowledgeable agent or a broker can make the process less complex as they will be able to recommend properties that best align with your farming operations. It can be difficult to initially establish if a plot is right for your farm, hence knowing what may be required for long-term growth will ensure that your purchase produces the expected results. Although each farm is unique in its assets, there are still factors that can be universally valuable in choosing a farm property. Whether you’re focused on growing crops or raising livestock, having a clear objective is an essential part of the buying process.

Assessing the Needs & Priorities of Your Future Farm Property

The most crucial factor to assess when considering a farm property to purchase is whether it meets the needs and priorities of your farm’s intended purpose while staying within budget. These needs and priorities will undoubtedly vary depending on what kind of operations will happen on the property as well as its scale. What is required of the farm property will differ greatly based on the type of farm operation. From shade cover to road access, an ideal piece of land may not be easy to locate. Knowing what will be needed for your future expansion is the best way to be sure that the farm you are planning to invest in is the right fit for your business.

When evaluating a farm property, the focus should always be the natural landscape and elements that cannot be implemented or changed in the future. Live water and overall access to water, type of soil, zoning ordinances, and neighboring properties, all cannot be overlooked. Note any existing structures – buildings and fencing – their condition and future investment required to keep them operational or removed. For crop farmers, soil quality, irrigation systems, and storage facilities will be the top priority while for those raising livestock, the availability of grazing land, barns, and fencing may carry more weight. Some may initially seem like elements you can compromise on, but taking the time to find land that best fits your needs should be the overall goal.

Zoning Ordinances & Your Farm Property

Agricultural zones can have both restrictions and regulations about the operations performed on a farm property, especially when it comes to building structures and keeping specific animals. Work with your agent or a broker and ask all the right questions as far as future developments, road access, and any zoning restrictions that may apply to your new purchase. This is not a part of the property buying process to take an educated guess on. Land accessibility and allowed operations are going to be the main guidelines for your farm operation.

Evaluating the Location & Accessibility of Your Future Farm Property

Assessing location and accessibility is a major aspect of buying a farm property. If your farm produces agricultural commodities, proximity to transportation infrastructure will be vital. Farms located in remote areas may face challenges in terms of transportation logistics. Other factors could include the distance from non-farm related employment if the farm isn’t a sole source of income, as well as the property’s proximity to support for equipment, supplies, and feed.

Planning for Future Expansion

While it’s recommended to choose a property that is the right size to fit your needs, planning for future expansion is a part of building a successful business. From crop expansion to increasing livestock, allow for these future opportunities. Evaluate the availability of additional land or the potential for land acquisition in the surrounding area.

While looking at various properties, consider the opportunities for additional income. Renting or leasing the property to solar or wind energy companies or quarry operations may deliver future supplemental income.

Defining a clear long-term growth strategy is the first part of your farm buying process. The second would be putting trust in an experienced land agent. This results in a much better outcome and delivers a less stressful process. Brokers and agents at United Country are some of the most educated and trusted land and farm experts in the nation. They understand cattle, dairy, and crop operations and are knowledgeable in everything from soil types to irrigation systems. If you are considering a farm purchase, reach out to our local agents.