Learn how to mindfully approach choosing and purchasing a ranch farm
Owning a ranch farm can be a very exciting and fulfilling experience, especially for those looking to pass the ranching traditions on to the next generation. However, it’s not an investment to be taken lightly — owning a ranch comes with a lot of responsibility.
When making a purchase of this magnitude, it’s important to do your due diligence up front and become educated in land purchase transactions and ranch farm management.
- Ask the right questions. As you’re searching for a ranch farm property, consider a few must-ask questions. Does the location work for you, and is all of the land zoned for your intended use? What is the soil quality and the soil health? In what shape is the existing infrastructure? These, along with other important questions, will help you identify the best ranch for your unique wants and needs.
- Do your research. Before moving forward with your ranch purchase, determine how many animals the property will support, assess the time required to run your operation, figure out where to purchase your livestock, become familiar with common challenges associated with ranching, discover reliable sources of information, and create a realistic budget by estimating your yearly costs and gross annual income.
- Weigh your financial options. Once you’ve found your preferred property, discuss your financial options with an ag lender. It will be important to find an ag lending company that understands the nuances involved in buying rural land and designs ag loan programs specifically to meet your needs as a rural property owner.
Taking the time to answer these ranch farm property questions, doing your research, and setting up a financial plan for your ranch with an ag lender will ensure you are on your way to a successful future as a ranch farm owner.
As the nation’s premier land lender, AgAmerica Lending supports the investment our nation’s farmers and ranchers are making in agricultural land. Whether you are buying a ranch farm, expanding your existing farm, or making long-term improvements to your agricultural land, the experts at AgAmerica can custom-build farmland loans to meet your needs. Contact us to speak with one of our land loan experts today.