![]() ![]() Working alongside other gardeners of varying experience, you gain a wealth of agricultural knowledge without taking a class or running a tractor. Volunteering or renting a plot of land in a community garden can be the perfect entry point to trying out your green thumb before you take the plunge and buy a farm. Knowing what you need and can afford is the starting point.Ĭommunity gardens are popping up all over urban and suburban areas, whether run by nonprofits, churches or neighborhood groups. What is your financial situation, both in cash flow and equity?.Meyer suggests these four main questions to consider: Finding the right land in the right place is the main challenge, and you should be prepared to compromise. ![]() When it comes to land prices, horticultural land is more expensive than pasture or hay ground, but you don’t need as much. In short, buying may be cheaper in the long run, but if you aren’t 100-percent sure of where you want to invest your time and energy for the next 30 years, renting is a viable option. With a 30-year loan, annual payments could be approximately $23,300/year. As for purchasing the land, an 85-acre farm might sell for $4,500 per acre, or $380,000. Let’s say, you rent 10 acres of veggies for $100 per acre per month and 75 acres of pasture for $25 acres per month the total rental price comes to $2,875 per month or $34,500 per year. In Kentucky, leasing land for vegetables averages $100 to $200 per acre per month, and pasture land averages $25 per acre per month. A small mixed-vegetable and cow-calf farm could require 5 to 10 acres for vegetables for one bull herd with 25 cows, you might need 50 to 100 acres. Lee Meyer, Extension Professor in the Department of Agricultural Economics at the University of Kentucky. Let’s look an example that compares costs of renting vs. If you don’t necessarily want to live on the land you work, renting is a good option. One advantage of not owning land is the flexibility to try out farming enterprises without the added costs of a mortgage and being tied to a single place. Here are some real-life examples of ways to think outside the ownership box. When it comes to stewarding plants and animals, an open mind and adaptability are your most valuable commodities, not real estate. There’s no single path to finding a little slice of farming heaven. You don’t have to own land to be a farmer-but you do need access to it. Many people who have the dream of becoming a farmer are stopped in their tracks due to the heavy cost of land, but that doesn’t mean they need to give up on the agricultural dream altogether. ![]()
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