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A Farm of My Own:  Aunts/uncles selling the family farm?  |
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brightmeadow
True Blue Farmgirl
2045 Posts
Brenda
Lucas
Ohio
USA
2045 Posts |
 Posted - Sep 29 2007 : 06:38:48 AM
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My grandmother had some land next to my dad's, she gifted it to all four of her children, including my dad.
This is the farm where I grew up; and we pretty much treated Grandma's acreage as "ours", it is where I rode my horse, baled hay, played ball in mowed wheat fields, etc.
After I graduated from college, I got a job in industry, and haven't spent a lot of time on the farm for the last 28 years, but it's always been my dream to start farming. I married a man with a farm 5 years ago, but it's 5 hours away from here. That is where we plan to retire in 10 years or so. I've been wanting to buy land locally but as DH keeps reminding me, "you'll need that money to buy your grandma's farm". My siblings are not in a financial position to buy it.
Now the aunts and uncles are thinking of selling their share. It sounds like my cousin, who is a partner in one business and owner of another, is interested in buying it as an "investment", as is the farmer who is currently leasing the fields.
I would never be able to afford to get into a bidding war over 40 acres. I could buy it at a minimum price (with a manageable loan), but not at a maximum one! I don't want to short my aunts and uncle, but I really feel like we would be losing the family farm if it eventually went outside the family.
I am afraid that if my cousin buys it he will want to sell it for lots or for a golf course or something- HE didn't grow up there and doesn't have any emotional attachment to the land. I'd definitely like to see it stay agricultural, but who am I to have any say?
My dad says if I want to farm I should just buy some farmland. Maybe he's right, I wouldn't feel restricted from doing anything I wanted with the land if its not the "family farm".
I have so many conflicting feelings about this I don't know what I think! They haven't begun to put a price on it yet, so I don't know how much they are looking for, and I am not getting any younger. Farming takes a lot of energy, and maybe I am too old, tired and too "soft" to do it, you know? On the other hand it will break my heart if they start putting up McMansions there.
You shall eat the fruit of the labor of your hands - You shall be happy and it shall be well with you. -Psalm 128.2
Visit my blog at http://brightmeadowfarms.blogspot.com ,web site store at http://www.watkinsonline.com/fish or my homepage at http://home.earthlink.net/~brightmeadow |
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Bluewrenn
True Blue Farmgirl
1122 Posts
Erin
Texas
USA
1122 Posts |
Posted - Sep 29 2007 : 07:20:38 AM
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Do they at least know that you want the land? Sometimes all it takes is knowing someone in the family wants it for the farm itself and not to resell it. They might be willing to give you first "go" at it... and they might not be aware that anyone is interested it it. Be realistic about that - they might have no idea of your feelings for the land.
My Homesteading Journal http://toomyvara.livejournal.com
My craft journal http://bluewrenn.livejournal.com
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brightmeadow
True Blue Farmgirl
2045 Posts
Brenda
Lucas
Ohio
USA
2045 Posts |
Posted - Sep 29 2007 : 07:29:37 AM
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Yes, my father knows, but what he communicated to his siblings was "They're going to retire to Michigan on their farm there" - we are, but that's probably ten years away. His point was, what are we going to do with the land when we retire to Michigan? And he is right, I really haven't thought that through yet, we're not currently doing anything with our farm in Michigan - LOL, it's basically a wildlife preserve with trespassers.
You shall eat the fruit of the labor of your hands - You shall be happy and it shall be well with you. -Psalm 128.2
Visit my blog at http://brightmeadowfarms.blogspot.com ,web site store at http://www.watkinsonline.com/fish or my homepage at http://home.earthlink.net/~brightmeadow |
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MBurns
True Blue Farmgirl
1799 Posts
Marlene
Swisher
IA
USA
1799 Posts |
Posted - Oct 01 2007 : 3:01:28 PM
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| How much is land going per acre in that area? I wish you luck as I had similar feelings for my parents farm and with the prices was lucky to afford the farmstead which is 10 acres. Farm land can go high. I understand your feelings and memories. Hope you can put in at least a bid for it. |
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brightmeadow
True Blue Farmgirl
2045 Posts
Brenda
Lucas
Ohio
USA
2045 Posts |
Posted - Oct 01 2007 : 3:40:55 PM
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Agricultural land around here can range anywhere from $3000 an acre to $5000. Although it seems that a lot of good farmland is being surveyed and sold for $10,000 an acre or more for building lots. And then if you are buying property it may depend on if there are buildings on it or not, and whether there is water or power available.
I googled and found this at http://www-agecon.ag.ohio-state.edu/resources/docs/pdf/O5W0OWRJ-TM0K-Y99T-FBJJ2QIF808OR3A2.pdf
"This survey found that on a statewide basis, bare Ohio cropland averaged $3886 per acre for top land, $3280 for average land and $2693 for poor land. Top land averages 177 bushels of corn per acre and rents for $138 per acre. Average land yields 146 bushels of corn per acre and rents for $111 per acre. Poor cropland averages 113 bushels per acre and rents for $87 per acre. The survey found that cash rents are expected to increase 2.5% in 2006."
You shall eat the fruit of the labor of your hands - You shall be happy and it shall be well with you. -Psalm 128.2
Visit my blog at http://brightmeadowfarms.blogspot.com ,web site store at http://www.watkinsonline.com/fish or my homepage at http://home.earthlink.net/~brightmeadow |
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MBurns
True Blue Farmgirl
1799 Posts
Marlene
Swisher
IA
USA
1799 Posts |
Posted - Oct 02 2007 : 12:45:45 PM
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| Keep us posted. Keeping land in a family is a good thing but many times people only see the money as a factor. |
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A Farm of My Own: Aunts/uncles selling the family farm? |
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Aunts/uncles selling the family farm?
