Getting started

by Pam
(Lewisberry, PA, USA)

Hi! I want to start homesteading/farming and have been looking at existing farms and acreage. I want to be self-sufficient and as "off-grid" as possible. I also want to run the farm as a successful business venture. Also open to ranching. But the properties are so expensive--some of the most lucrative several millions of dollars! There's a ranch in Colorado I looked at that is full operation with a range manager and hands. How do you approach something like this without already being a millionaire?

Is there special financing available?

Even a couple hundred acres of farmland (with water) seem to go for a million or more.

Any advice would be appreciated.

Comments for
Getting started

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Jul 07, 2010

Buying a Homestead and Advice
by: Countryfarm Lifestyles

My advice to you is only buy what you can afford and be prepared to wait for something special.

In today's financial times there are many homes, including farms, that are foreclosure properties. Sometimes it is possible to inspect these homes prior to making an offer but sometimes access is not granted. It is not nice to think that one can take advantage of someone's misfortune, but on the other hand, it is being sold, and if you have the opportunity you should take it.

If you are looking to walk right in and take over from the current homesteader/farmer then expect to pay top dollar for that farm.

However, if you are prepared to do the work yourself over time buying good virgin soil will allow you to buy cheaper and you will be working with a blank canvass that could be to your advantage. However you will also have to take into consideration the expenses needed to get it to an operational stage, including the purchase of fencing, planting of crops, buying livestock and farming equipment.

Please don't think you will make money out of farming - few people do. It is not a lucrative job at all, and you should have enough money to carry yourself before the farm starts to make a profit, which could take years. And then, when it does make a profit, it will only be a very small profit at best.

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