With the cost of living in large, urban areas becoming higher than most are able to afford, more people are looking south and west for more land and space. Even more so, many people are looking into buying farm land for sale.
Places like Montana and Colorado are growing in population with more people purchasing farm estates for sale and hunting property as well. In fact, by 2043 Montana’s population is expected to increase by 14%. When looking for land and lots for sale, there are a few things you need to keep in mind. Here are a few tips for buying farm property:
Establish a Purpose
It is important to establish a purpose for the land you’re purchasing. What do you want to use it for? Will the property be mainly used for residential and gardening? Do you want to make a living off the land? If you do intend on living off the land, one rule of thumb is to be able to sell something each week. This can be anything from cattle, eggs, wool or hay. It’s important to establish the purpose of the land in the beginning to educate yourself on what the next steps are.
Size
Another important factor to consider is the size of the land you want to buy. It is important to have a strong understanding of how much space you will need once you’ve established what you want to use the land for. Many times, people simply want the space because they can have it. In 1988, Ted Turner was one of the first to begin the trend of buying large lots of land when he purchased the Flying D Ranch. The more than 100,000 acre property is southwest of Bozeman and cost over $20 million. Since then, buyers who are able to have been purchasing some of the finest real estate the western and southern states have to offer.
Determine the Farmable Acres on the Land
While a few hundred acres may seem like a lot of land, in many cases, much of it may not be suitable for farming. When looking to purchase farm land for sale, you must know exactly how much of it can be used for farming, if that is what you intend on using it for. Land that features wooded areas, streams, and valleys cannot be farmed. It is also recommended to find out if the property has a conservation easement. This is a property restriction that protects a property’s associated resources.
Now that you know some of the basics of what to look for, you are ready to start looking for farm land for sale. One recommendation is to choose a real estate agent that allows you to see the entire lot of land at once. One way to do so is by helicopter, which is trending among those looking to buy large pieces of land. Check your with your local real estate professional for this service. Your future property awaits. Check out this site for more.
