If you've dreamed of growing your own food or raising livestock, purchasing farmland can help you turn your dream into a reality. Our real estate agents know that purchasing farmland is a little different than purchasing a more conventional piece of property. Here's what you need to keep in mind when buying farmland.
- You Should Determine What You're Hoping to Accomplish by Purchasing Farmland
Before you can start searching for farmland, you should have some idea of what you want to do with the land. Having a plan for your farmland will help you find properties that are suited to your needs. If you just want the ability to own animals that aren't allowed within the city limits (like chickens and a few goats), your land needs are different than those of someone who wants to grow and raise most of their own foods.
- There May Be Regulations That Impact Your Ability to Use the Land
Even though farmland is usually subject to fewer laws and regulations than other types of land, there may still be restrictions that dictate how you can use the land. For example, you may only be allowed to use a certain amount of water. This will affect the types and quantity of any crops that you grow. Zoning laws can also impact your ability to use the farmland. If the land parcel is on a conservation easement, any activities on the land will need to follow the easement's guidelines.
- The Soil May Not Fit Your Plans
Before you decide to purchase one of the Augusta County homes for sale, make sure that you obtain information about the soil's history, including details about what crops have been successfully grown on the land in the past. This will help you decide if it's a good fit for the crops that you want to grow or if it's best to continue searching for a different property. While some soil problems can be fixed, this process is usually expensive and time-consuming.
- Some Buildings May Not Be Usable
It's common for a farm to have multiple buildings and structures, including barns, garages, tool sheds, and spaces for storing crops. However, there may be some buildings on the property that aren't usable. If a property has unusable buildings, you need to review the financial implications of restoring the space's functionality. Some buildings may need extensive repairs; you may be better off tearing these structures down. Even if you decide to tear down a building, this project will add multiple expenses to your budget. Should the property have buildings that require extensive repairs or demolition, make sure to factor in these costs when making an offer on the farmland.
- The Farmland's Location Can Impact Your Plans for the Land
Where the farmland is located should be considered when deciding if it's right for your needs. Maybe you envision setting up a booth at the local farmers market to sell your crops, eggs, or other goods. If the local farmers market is a lengthy distance from your farm, this will affect your ability to earn an income from your farmland. Or, if the farmland is so remote that you'll have trouble finding buyers or will spend a lot of time and gas driving to potential buyers, you may want to consider other options that are more centrally located. You should also think about how the land is situated from major roadways and bodies of water. For example, if your farmland is low-lying and near a river, it may be at risk of flooding and destroying your crops or livestock. Farmland that's close to busy roads may experience pollution from vehicle exhaust; it's also more likely to face theft or vandalism.
Purchasing farmland has unique considerations that you should explore to help you confirm that a property is a good fit for your needs. Ready to start looking for your next property? Contact us today to get started!