Ranches for Sale in Utah: Finding the Perfect Property for Your Needs
Farmers and ranchers in Utah looking to own a farm may still participate in the state Farm Service Agency (FSA) direct farm ownership program, offering low interest rates for farmland purchase. Farmers and ranchers must have their applications approved by Sept. 30 to take advantage of the available funding. Those eligible can borrow up to $300,000 and use them for various reasons, including buying farmland, constructing or repairing facilities, payment of closing costs, or promotion of soil and water conservation. Qualifiers can enjoy benefits that include 40 years to repay, and interest rate as low as 1.5 percent.
Any current farmer or rancher will tell you that the agriculture business is more difficult today than it has ever been. As a young or beginning farmer, the challenges can even be greater, so you need all the help you can get. FSA’s direct farm ownership program is one way to help you meet those challenges.
Beyond the FSA
Perhaps you’ve longed to own a farm for so long and the feeling has become so intense, you feel it in your belly. While the FSA program offers great opportunities to make this dream come true, you also need to be prudent and choose carefully from among the many ranches for sale in Utah.
First, it is essential to be accurate and realistic about the budget necessary to support your farm and generate the income you want to see. Second, research the neighborhood and the land you’re interested in to confirm its viability and productive capabilities for the type of farming you want to do. Third, if you plan to take out a loan, you need to get your requirements in order.
Developing a Ranch Management Plan
A ranch management plan is the cornerstone of any successful farm enterprise. A formal ranch plan brings all team members together and fuels the future direction of the operation. It will also identify areas of change and how these changes can be brought about optimally. A sound ranch management plan will put your operation on a path to fulfilling your goals.
Trusted brokers of ranches for sale like Mirr Ranch Group provide a wide variety of services that will not only help you find the ranch property you are looking for, but manage it effectively as well.
Agricultural producers still have time to apply for Direct Farm Ownership Loan Program, Daily Herald, Jun. 4, 2015
Getting Into the Cattle Business: Buying a Ranch and Making it Pay, Land & Livestock International, Inc.