How to Buy Agricultural Land
In many ways, rural living is characterized by the lack of conveniences provided by living an urban lifestyle, both good and bad. Feelings of independence must be balanced with feelings of isolation. Security systems are replaced with fencing systems to keep animals out and trips to the closest metropolitan neighborhood for your favorite tea or movie can take 5 or 6 hours. In the city you also don't have to worry about water rights, utilities, property access or boundary lines. These are key considerations when buying agricultural land, however, as things like electricity, water and road maintenance are not a given.
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Instructions
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Determine the location. In what part of the country would you like to acquire land? Some agricultural land is available very close to urban areas. Think about weather and topography. Fluctuating temperatures are bad for crops of any kind.
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Be ready for high land prices. In the past, rural was automatically synonymous with a poor lifestyle, however, agricultural farms are profitable ventures and a great source of additional income. Additionally, between urban dwellers looking for a more independent lifestyle and retirees securing their future home, agricultural land can demand a much higher price than it has in the past.
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Determine land acreage and topography. The farther remote, the more the price drops and the more land you will likely be able to afford. Steep, rough land with poor access will also affect the selling price. If you do not plan on living on the land, choosing land which is very remote might be your best bet.
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Consider the time of year when buying. You will get a better deal in the winter when the market tends to be slower. Agricultural land in the spring and summer is usually producing income.
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Understand your access routes. What is your access in bad weather? Is there an access road to the major roads? Who are the roads maintained by?
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Determine boundary lines. It can be expensive, but the best way to verify the property boundaries is to hire a licensed surveyor.
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Research zoning status. Most rural land is zoned agricultural. There may be benefits and drawbacks related to this designation. Benefits may include multiple dwelling approval, lower property taxes and less rigid building regulations. Disadvantages may include restrictions on subdividing certain livestock or crop requirements. Check with your state and country requirements to be sure.
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Ensure a water source. Most states require a well permit if you don't already have one, adding to your total cost of ownership for the land. Also, counties with a shortage of water may place limits on the amount of water used per acre, which may reduce production levels.
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