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Predicting the future
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<blockquote data-quote="Aaron" data-source="post: 1117582" data-attributes="member: 1682"><p>Well my southern neighbor sold the cows a month ago. Looking to rent and eventually sell the farm. 100 year old operation (close to 1000 acres at one point in time) that always was a farm run and paid for with cows. He has an 80 acre parcel that is 1 of 3 parcels that make up a 160. We already own a 70 acre parcel (I hate when quarters are cut up). Of that 80 of his, 30 is hay and the rest cut-over bush pasture. I value the pasture at $100 an acre (needs a dozer to it still) and the hay ground at $300-$500 (possible premium because it is next-door). I really want him to sell it to me, but I will relent and rent if he goes that route.</p><p></p><p>Anyways, to answer your question, $1000 an acre will buy any type of operation in this area. You want a $400,000 house on 500 acres of land?, $500,000 will buy it. You said 200 acres, so $200,000 will buy you 200 acres and a maybe a great house. However you want to figure it, around here, when people pay $1000/acre, your either paying a premium for the land and the house is free, or your paying for the house and the land is free. A lot of places have neglected fences, but decent outbuildings (I am just the opposite). </p><p></p><p>Mennonite bought my western neighbors place - fences are terrible and outbuildings were in ok shape - 320 acres, 200 clear - good water and a house that would be an easy $400,000+ in a town (2600 square feet, 2x8 stud walls), all for $310,000. But I think he could be bought out if you even came close to matching the money - he's about the dumbest farmer I ever met and I am amazed he still has enough money to keep the lights on in the house.</p><p></p><p>Got a lot of Bruce and Grey county guys moving up here buying land. Only good thing about them is they might possibly keep the Mennonites on their toes. But I am scared if they start driving land prices crazy high. Although these Easterners have come in many times in decades past, going to show us hicks how to farm, and very few survive the North and the isolation - compared to southern Ontario.</p></blockquote><p></p>
[QUOTE="Aaron, post: 1117582, member: 1682"] Well my southern neighbor sold the cows a month ago. Looking to rent and eventually sell the farm. 100 year old operation (close to 1000 acres at one point in time) that always was a farm run and paid for with cows. He has an 80 acre parcel that is 1 of 3 parcels that make up a 160. We already own a 70 acre parcel (I hate when quarters are cut up). Of that 80 of his, 30 is hay and the rest cut-over bush pasture. I value the pasture at $100 an acre (needs a dozer to it still) and the hay ground at $300-$500 (possible premium because it is next-door). I really want him to sell it to me, but I will relent and rent if he goes that route. Anyways, to answer your question, $1000 an acre will buy any type of operation in this area. You want a $400,000 house on 500 acres of land?, $500,000 will buy it. You said 200 acres, so $200,000 will buy you 200 acres and a maybe a great house. However you want to figure it, around here, when people pay $1000/acre, your either paying a premium for the land and the house is free, or your paying for the house and the land is free. A lot of places have neglected fences, but decent outbuildings (I am just the opposite). Mennonite bought my western neighbors place - fences are terrible and outbuildings were in ok shape - 320 acres, 200 clear - good water and a house that would be an easy $400,000+ in a town (2600 square feet, 2x8 stud walls), all for $310,000. But I think he could be bought out if you even came close to matching the money - he's about the dumbest farmer I ever met and I am amazed he still has enough money to keep the lights on in the house. Got a lot of Bruce and Grey county guys moving up here buying land. Only good thing about them is they might possibly keep the Mennonites on their toes. But I am scared if they start driving land prices crazy high. Although these Easterners have come in many times in decades past, going to show us hicks how to farm, and very few survive the North and the isolation - compared to southern Ontario. [/QUOTE]
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