5 Reasons You Should Buy A Farm (Seriously)

 You may be familiar with the expression that the two best days of owning a boat are buying it and selling it. Well, that doesn’t exactly apply to …

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 You may be familiar with the expression that the two best days of owning a boat are buying it and selling it. Well, that doesn’t exactly apply to a farm because buying it is only half the fun. Owning a farm can be hard work but it can also be fulfilling and profitable.

Income Potential

One of the main reasons to purchase a farm is the potential for income. After all, there is no way you are consuming all of that food by yourself. Farming has historically been thought of as a pretty low income industry when it came to the actual farmer. However, our markets have been dramatically shifting towards a much more profitable model. Today’s consumer is inundated with the importance of local agriculture and it is becoming embraced by the masses. Local farms are having a much larger impact in their communities food supplies and have begun to sell directly to consumer. This just simply wasn’t a common option ten to twenty years ago.

In addition the global population is rising increasing the overall demand for food. With more mouths to feed, the opportunity for new entrants into the market has expanded.

You know the opportunities are ripe when savvy investors begin seeking out the opportunity. There has been an increased demand from investors looking for land that can not only appreciate in value but also generate a supplementary income from production farms.

Hunting

Another great reason to purchase a farm is that you generally have the option to use it for sporting purposes as well. If you are in the market for a farm, chances are you are an outdoors person. Hunting may already be in your repertoire or maybe it is something you’d like to add. You can become completely self-sufficient.

If you want to use your farming land for hunting as well, there are definitely some things to keep in mind when choosing the property. The first thing is to really consider the variety, quantity, and quality of wildlife in the area. Even private hunting land has regulations as to what can be hunted when. So if your land only has wild turkeys, you’ll miss out on other game seasons.

The quality of the land itself is incredibly important. Is there a nice mixture of land and water. Any good hunter knows that animals need a prime water source in order to survive. They are more likely to be attracted to a well hydrated location as opposed to one without a water source.

Being adjacent to public lands can also be a benefit to your farm and private hunting oasis. Not only does this provide you with easy access to civilization but the rookie hunters are likely to start off on public lands. They may scare some game your way.

Conservation

Conservation has become quite the topic of conversation as of late. Ignoring any political aspects, conservation is very important on a community level. Conserving your local lands means preserving the wildlife, the ecosystem, and preventing every parcel of land to turn into another mocha latte machine.

Any natural feature that is protected such as scenery or wildlife can help sustain the property values and down the road, attract new investments. You can take advantage of conservation easements which are essentially voluntary agreements with the government to restrict the uses on the land permanently in order to protect various conservation values.

There is only so much farmland and natural habitat areas left to be protected in the midwest. Owning a farm is your way of keeping a small piece of that paradise still alive.

Easement Advantages

Reason number four for owning a farm goes back to the conservation easements. Not only do those easements provide conservation value safe havens, but they also provide you with potential financial advantages as the landowner.

This can include federal income tax breaks for a donation, real estate ad valorem tax breaks, estate planning and family heritage preservation, and land value enhancements due to adjacency to protected land. Let’s be frank here, the word tax break is music to anyone’s ear whether you are uber-rich or part of the middle class.

It’s a Farm

The last reason that you should buy a farm, is because it’s a farm. Whether you’re retiring on a farm or escaping the rat race, a farm can be your own special oasis. The hard work will be well worth it when you’re earning income off crops and self-sustaining your family. Eliminating the unnecessary stressors of life such as daily commutes, an inbox that simply won’t hit zero, and living in cramped indoor spaces, can lead to a much higher quality of life.

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