Buying farmland isn’t the same as purchasing a suburban home on a lot. There are many more factors to consider, like infrastructure, the connection of utilities, fencing, distance, size, and profitability. But if you’re prepared to ask the right questions you can successfully navigate the process and end up with a property that is just right for your needs. Here are a few important questions to ask during your search.
Does the Farm Have an Existing Infrastructure?
As you create your shopping list remember that all farmland is different. Some land comes outfitted with structures like barns, outbuildings, and corrals. Other properties may simply consist of raw land. If your budget doesn’t accommodate for the construction of the structures you require, you need to change the parameters of your search.
What’s the Cost to Connect Utilities?
Remember to consider the cost to connect utilities. Be aware, however, that adjoining properties can affect this process. For example, if a pipeline needs to be installed to bring water to your land, and it involves obtaining the permission of a neighbor whose property might be impacted, there is a possibility that you may not be able to get this utility connected.
Is the Property Fenced? Can I Afford Fencing?
If you’re purchasing raw farmland it’s unlikely that it will have existing fencing. Sometimes even developed properties may be inconsistently fenced, have fencing that’s in bad shape, or fencing that needs to be updated. So an investment in the installation, repair, or modification of fencing should be factored into your decision, especially since it must be tailored to meet the needs of the livestock you raise. If you plan to grow vegetables, you’ll likely need deer perimeter fencing around the area where you plan to farm.
Are You Buying a Home or Land for Sale in Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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