Posted by jdemaris on February 04, 2008 at 06:36:05 from (67.142.130.36):
In Reply to: appreciate a listening ear posted by old fashioned farmer on February 03, 2008 at 17:43:48:
One option is - buy a farm in a different part of the country. Our country has a history of new farmers moving to wherever land could be bought the cheapest. I can't imagine trying to start out with buying farmland at $6000 per acre. I'm in New York, and we've got a lot of Amish farm families coming here so their kids can afford to buy farms - all close to each other. Some of the latest are coming here from the state of Maryland.
I'm in a dairy farming area, and good farmland has doubled in 10 years - from $1000 per acre up to $2000 per acre. 20 years ago it was $600 - $800 per acre. Go 150 miles north of me near the Canadian border, and farm land can be found now for $1500 per acre, or less. My friend's nephew just started out farming - and he bought a 200 acre farm with several dairy and hay barns and a large house for $420,000. Subtract the value of house and barns, he got the land for $1200 per acre. Our growing season may not be as good as your area ( I don't know where you are), but there are other things this area has that many other areas do not. We have some of the cleanest water in the country - all over place, huge stands of hardwood trees, etc. About my friend and his nephew I mentioned. My friend was a dairy farmer his entire life. He retired two years ago and reluctantly sold out. He had been holding on to his farm with hopes his nephew would buy it and take it over. 240 acre farm with 60 acres of mature hardwoods, old farmhouse, several Deere tractors and one Deutz-Allis and an old barn that needed a lot of work. He offered to sell it for 180K and hold a land-contract on it - but his nephew decided to go up north instead - where there's less development going on - and more active farming. A developer just bought a 100 acre chunk of the farm here and paid $2800 per acre. It has some of the nicest mountain views in this area and has some sort of housing development planned.
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