Know how to best serve your family ag operation.
Most farms and ranches in the U.S. follow the traditions of family farming and ranching. These operations require a lot of land, and we’ve looked at how owning land is the best option, especially for families that are looking generations into the future. Let’s take some time to look at buying that land. Preparing for the future often includes expansion, so it’s important to know how to buy farmland. Explore the questions you should ask when buying agricultural land, gleaned from an AgAmerica Lending piece on GrowingAmerica.com, below.
7 Questions to Ask When Buying Farmland
Family farming and ranching means you want the best deal no matter what because you have multiple family members to consider; everyone in the family is affected by the bottom line. There are two factors that really make the difference in getting the best deal and the best fit concerning the land and your ag operation: working with an ag realtor and utilizing an ag-friendly lender like AgAmerica. In both instances, you’ll have a team of experts in your corner to ensure your ag land deal will be as beneficial as possible for the family operation.
Questions that should guide your search when looking to buy ag land include:
- Location. Does the location work for you and your current operation?
- Water. Does the land currently have permitted water? What other water features, or access to water, are available?
- Soil. What is the soil quality and the soil health? Have soil tests been completed lately? The quality of the soil will determine how much work needs to be done by the buyer.
- Infrastructure. What are the existing infrastructure, and what shape is it in? Again, land with existing buildings and/or fencing that can be put to use to suit your operation’s needs will mean less work for your farm family.
- Land use. How well does the land suit your needs? How much is grazeable and how much is not? Are there dense wooded areas, sections that commonly flood, roads for easy access, etc.?
- State of the parcel. How well did the previous owner care for the land?
- Zoning requirements. Is all of the land zoned for your intended use?
AgAmerica Lending knows that a strong ag family stands on a foundation of usable land and flexible lending options. Contact us today to explore how our custom loan packages can help your family farm or ranch operation to buy land, expand, and succeed.