Owning a ranch is a great way to get away from the hustle and bustle of city life. The land provides a great place to relax and live a slower paced lifestyle. Of course, many people forget that there’s more to ranch living than meets the eye. Taking care of the land and livestock is a long-term commitment, fraught with pitfalls that you may not be aware of. Here are a few things to consider when looking at ranches for sale in Northern California:
Know The Number Of Animals The Land Can Support
Oftentimes, sellers will reel in an unsuspecting buyer by exaggerating the number of animals that the ranch can hold. This lie is often revealed well after the fact and can be an extremely costly mistake. There’s a simple solution, however, that can help you debunk all of the myths surrounding your potential ranch. Production potential can usually be assessed by checking out the local USDA paperwork and getting in touch with a professional.
Your Time Investment
A smaller sized ranch will need at least a good 20 hours of your time every week. Many people that have ranches filled with cattle or horses are rudely surprised when they recognize that the animals can’t function on their own. If you can’t do the work, you will need to outsource it to someone who can, which will cost more money than you bargained for. A good solution is to plan ahead and consider how much time you can actually dedicate to your ranch life. Please check out this resource for more information: premiercountryestates.com
Understand Your Taxes
Many people buying a ranch for the first time automatically assume that they will inherit great tax savings through caring for livestock. This may not always be the case, and many owners make plenty of mistakes and try to cut costs to get even more tax breaks. This will in turn cause you to produce a poor product with a bad reputation. Sit down with an agricultural tax practitioner and purchase products and livestock based on their advice.
Be Realistic About Income
If you’re looking to buy a ranch in Northern California, don’t assume you will get rich quick. Dealing with livestock is a big commitment and will take a lot of time. Ultimately, the profit you make on a ranch isn’t that great when you take into account the time spent weaning livestock as well as potential mortality rates. In short, you not only need to have a backup plan, but you also need to have enough money to get started in your new ranching endeavor.
Don’t buy a ranch based on looks or how much money you think you will make – that’s a very poor business approach. Take the time to research the history of the ranch in question and get in touch with professionals to help you make wiser choices in regards to your ranch. Bear in mind that ranch living involves farming and it isn’t a lifestyle you can abandon at will, therefore, think about your purchase carefully!