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Comparing farms when buying land
A farm real estate expert says seemingly slight differences can make one farm a better purchase than another. Randy Dickhut with Farmers National Company says several features can help farmland be more productive and better hold or increase its value…
“One may have pattern drainage tile that helps it drain in those wet seasons and have better yields and better farmability or conservation measures: waterways and terracing that you might not see from the road,” he said.
Dickhut stresses the importance of having local knowledge when comparing farms. He tells Brownfield making decisions with poor information can lead to a wide range of issues.
“Maybe the price sounded right but there was a reason for that and it ended up not being a good investment because irrigation equipment wasn’t good or needed to be replaced,” he said. “[Which meant] a lot of money spent, fertility was bad on the farm or it had bad erosion.”
Dickhut recommends buyers speak with a buyer agency, such as Farmers National, to cover the ‘due diligence’ of reviewing and comparing properties.
