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Southern Illinois | Congratulations, first and foremost. It'd be a better situation financially, if it was ground you weren't already farming because the only thing it'll be adding to the operation is the cash rent you'll no longer be paying or the 1/3 you won't be giving up. However, I understand why you're buying it. It's hard to tell you what to pay for it without knowing market value in your area. I know it sucks overpaying for land but at the same time, I know you don't want to lose it. I'd say most importantly, figure out what you can afford. Do you have cash down that will lower land payment or will you be utilizing beginning farmer loan what will amortize out to lower payment? | |
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Land Prices
