Should i buy a hobby farm

The expert lenders at MSF Agriculture are standing by to answer all of your questions. Contact our office today to start shopping for the loan option that will be right for you!

This can be achieved in a variety of ways, but there are a few questions that you should ask yourself: How much space do you actually need? Again, the acreage of hobby farms vary widely depending on the needs and long-term goals of their owners. Where do you want your hobby farm to be located? Would you prefer that your hobby farm be located close to a market or community?

Or, alternatively, would you prefer your hobby farm to be more remote? How will you make sure that all of your water and irrigation needs are met? Every farmer — no matter the size or scale of their operation — depends upon a source of freshwater. Being clear to your agent about what you are hoping to gain from a hobby farm and the time you have to dedicate to maintaining the property is crucial.

It is also important you know exactly what you are getting for the purchase price, so that the cost for additional requirements of your farm are factored in. Be aware that the land you purchase may come with an older home, so there may be costs associated with the upkeep of the house as well. And, like any real estate purchase, a wise investment will hold you in good stead should you decide to sell, so elements such as surrounding infrastructure, facilities and the economical state of the region all come into play.

Organisations such as Select-A- Broker can assist with applying for a loan through a knowledgeable broker, free of charge. You may be looking for the simple joy of making honey from your own bees or farming free-range eggs from a batch of healthy chickens.

Toggle navigation. Does it have a place in small farming? Escape to a rural lifestyle, buy a hobby farm. Bonus points if the farm also comes with irrigation equipment. Electricity In addition to pumping water, electricity is the primary source of energy for stationary farm equipment.

Ensure all wiring is up to code to prevent a potential fire hazard. While we, like many, fell in love with this historic barn structure, we knew we would need to continually invest in general maintenance in order to keep the building functional. Over the years, we put on a steel roof and continue to slowly add steel siding to the barn as our budget allows.