I have decided to take our farm off the market. I didn’t want to sell before we found another farm to replace our current place and the state of Iowa had started the process to make an offer to buy our land. I hadn’t been sleeping all that well, since putting our farm up for sale worrying if I was making the right decision by going into dept to buy a better farm. After spending countless hours on the internet searching for a new place, I realized the price of good farm ground in the area we want to be has gone up so much that it is more than I had thought and was willing to go into debt for. After seeing last week where there was a farm that sold for 21,000.00 an acre I see why.
Our current farm we paid cash for it and was one of the reasons we bought it because we wouldn’t have to go into dept for it.When I wrote a post about Plan Your Farm one of the 10 steps I suggested for small beginning farmers to be successful was to stay out of dept. When I wrote that I strongly believed what I said and I still do. It goes against my ideals of living self-sustaining where the farm pays for itself. I don’t want to lead others who read and follow my blog into this pitfall of borrowing if you can help it. Borrowing money cost you money and you end up paying three times or more for a place if you borrow instead of paying cash.
So when I put our place up for sale my thought was if we didn’t find anything we would just not sell our’s. But that thought changed when the state of Iowa had contacted my realtor about buying my land. Our farm butts up against Stephens State Forest that has over 6500 acres of forest and our land would give them an access to the western part of the White Breast unit. I am confident that if we do decide to sell again and find a place we would like to sell ours for, I am sure the states offer will still be there.
At this time we are keeping our current farm, and our 40 acres may have to be enough for us and we will just make the best farm we can of our land and scale down our plans for the number of cattle I will have on our place.