Finding The Right Home For Your Own Hobby Farm
Posted on: 13 January 2019
Many people want to eventually retire and have a hobby farm. Others just love the idea of being around nature, even if they can't necessarily create a self-sustaining farm or run a farm for a business. A hobby farm is a small, farm-like plot of land that doesn't necessary bring in revenue, but does support animals and small crops. Here are a few things you'll need to consider.
Make Sure the Property is Properly Zoned
Zoning is one of the most important things to consider when you're interested in livestock. Zoning laws are initiated on a county level, which means a property that's in a rural area doesn't necessarily allow for the animals that you want. Likewise, an area that is just land without any homes built on it may not actually be zoned for homes. Check with the county first.
Consider the Size of the Property
A hobby farm doesn't have to be that large. Usually a hobby farm spans from a few acres to a dozen acres. Anything larger than this can be difficult to maintain or secure. If you're looking for a property that just needs to support a few animals and a single-family home, consider that a smaller property that is better developed will likely end up with more value.
Check the Home's Utilities
Some homes already have electricity and plumbing run to them, in addition to cable and internet service. Other homes don't have these: it can cost tens of thousands of dollars to run utilities into a rural area. Ideally, for your first hobby farm, you should try to invest in a property that has as much of these developments already installed as possible.
Don't Forget to Consider Agricultural Loans
A hobby farm is still a farm, even if its purpose isn't necessarily for revenue. You can get a rural or USDA loan for properties that aren't in metropolitan areas, even if it's just going to be a primary residence. Often the terms of this type of financing are quite good.
A hobby farm can be a fantastic investment for the future, as it isn't impossible to turn a hobby farm into a sustainable farm moving forward. Yet there are more complications to buying a hobby farm then there are to buying traditional single-family homes. It's advised to work with a local real estate agent who specializes in rural properties and properties for development.
Share