Hold Your Horses: Take Note of These before Buying a Ranch
The title “ranch owner” has a certain ring to it that people accustomed to rural living find hard to resist. However, owning a property for farming or animal-raising purposes is not as simple as the lifestyle a ranch provides. There are a number of things one has to consider before purchasing land.
First, the ranch’s capacity to support farming and livestock activities should be clear. Do not take the seller’s word for it: consult the Natural Resources Conservation Service in your area about total land area, soil type, vegetation condition, etc. before the deed of sale is turned over to you. You’ll also need to know where you can get animals to raise and food to feed them.
Second, seek help from professionals who know how a ranch is run, and the financial requirements that such a venture will entail. Ask about gross and net income that you should expect after a full year’s work in the ranch. Your financial books should also contain equipment purchases and payments to ranch hands to keep the animals taken care of.
Third, take note of other items potential land purchasers overlook like population growth potential, zoning and laws on hunting and fishing. It is also important to have knowledge of sites in the ranch that need to be protected, like archaeological areas and wetlands.