Quick Takeaways

  • Set a budget
  • Do your research
  • Be patient

Source: How to Start a Sustainable Hobby Farm (Westfield Insurance, May 19, 2021)

Buying farmland can be a challenge with rising prices and investor buying up  farmland. When you do find farmland, be sure to evaluate the land before you buy. Find a mentor to help you make a decision.

There are many options to financing a farmland purchase.  You can use a commercial bank that has an agricultural department, get a grant or applying for a USDA loan.

Farmland property values rose sharply in 2021. Good for farmers selling, difficult for would-be farm buyers.  In addition, rising prices can attract non-farm investors cutting out other buyers.

Hobby farms are a great way to dip your to into farming.  They are smaller than a regular farm with no pressure to produce a profit. Get your questions answered about this popular form of farming.

Agrihoods are popping up in many places in the U.S. They can range from urban locations like the new agrihood in Detroit, or a lush development in Hawaii.  You can get locally grown produce, but housing prices in these developments can be expensive.

Need more help?  Check out the list of useful websites, ranging from advice to young farmers to a financial toolbox for your farm business.

See References for more information.