Choosing Land for the Financial Security of Your Family
A lot of people are interested in knowing how to buy land. They are looking for land that is not just a financial investment but also is an investment in their future family. Land is the perfect investment for people who are looking for a stable income.
The land you choose to live on will have a major impact on the quality of your life, and there are a lot of factors that will help you make sure that it will be able to provide for your family for generations to come.
The Soil Quality
If you are considering buying land, it's important to know what kind of soil it has. Different types of soil support different kinds of plants and also affect how fertile the land is.
A good way to tell if the soil is good for farming is if there are still crops growing on the property. It may be challenging to identify what kind of crops are being grown, but if they are successfully growing, that's a good sign that the soil can support them.
Another clue might be what kinds of animals live there year-round - e.g., cattle, horses, sheep, goats, or even wild animals like bears and deer. These animals will only stay in an area with abundant food sources, so the soil is probably fertile enough to support crops if they are there.
To be sure, you can opt for a comprehensive soil test to establish the level of nitrogen, phosphorus, and potassium in the soil. You can also ask a local farmer for help determining whether or not it's suitable for farming - they should be able to tell you if other nearby farms are successful at growing crops there.
Consistent weather patterns over the years are important when it comes to farm planning and management. You want to make sure that the prevailing conditions will support the activities you plan to do on the farm.
You will know what activities can take place during each season (e.g., planting, weeding, harvesting, etc.) If the area experiences a four-season cycle, you can decide when to grow crops in the open field and shift to a greenhouse for more controlled conditions.
Temperature, humidity, and precipitation should also be considered when choosing a location. If the area is too cold, you will have a limited growing season, and your plants may not live to adulthood. If it's too dry, you will need to irrigate, which costs time and money.
You can usually get by without irrigation if your land receives a sufficient amount of natural precipitation, but you will need to keep a closer eye on the weather. On the other hand, you should avoid low-lying areas that are prone to floods.
Accessibility to Markets
Market access lies at the apex of the profitability enablers of many land-based farmers. As such, it is important to consider how easy it will be to transport your products to market. If you can sell locally without having to spend a fortune on transportation and storage, you should consider doing so.
This is because you will be able to maintain a higher margin by selling locally instead of transporting your products great distances where you will have to slash prices considerably to compete with the large-scale producers.
On the other hand, if you need proximity to a major market (such as New York City), you might need to look further. You should go for land located near some transportation hub, whether it's a road, rail line, or city, so your product can get to customers.
Does it Have Power, Water, and Sewer Connections?
Whether you're planning to do crop or livestock farming, build a factory, or just a warehouse, you need to make sure that the land has connections for power, water, and sewage (especially if you're looking at industrial properties). If it doesn't, you'll either have to pay an arm and a leg for upgrades or be forced to relocate your business.
However, it's possible to find solutions when it comes to water, depending on the situation. It can involve digging a well, connecting to public water, or buying water from the local municipality. Plus, with a rainwater harvesting system, you could have enough water to last you months.
You can also build a septic tank for sewage; however, there are strict guidelines on how they need to be built. You'll need someone qualified to come out and inspect before you can build it, so make sure you speak with your local building department beforehand.
As for power, you could opt for an off-grid system, such as solar panels and a battery bank. This option, however, is costly and requires quite a bit of upkeep for it to be worthwhile. And in most cases, you will need to supplement it with mains electricity, especially if you're running heavy machinery or appliances.
Your Ability to Care for Your Land and Keep it Productive
If you're a busy individual, it can be difficult to look after your farm and turn a profit. However, no matter which way you look at it, farming is hard work, so if you're not up for the challenge of maintaining animals and crops, this may not be an option for you.
If that's the case, then what other options are out there? Perhaps you could turn your land into a holiday home - all you need to do is rent it out, and your regular income can pay for the upkeep of the building. Whatever option you choose, remember that keeping your land will be an ongoing cost without a source of regular income.
Seek Help from the Experts
When times get hard, it's always best to seek the advice of a professional. A reliable land management company can work with you to determine the best option for your situation and help you through it.
If you're looking for a seasoned land manager for your Iowa parcel, turn to the real experts at Midwest Land Management. Whether it's farm real estate, ranches, plantations, or recreational land that you need to be managed, we can efficiently run your property while ensuring you continue to make money from it. Call us or visit our website to learn more about how we can help you today!