Farms take a lot of work to not only maintain, but stay profitable, but there are several simple ways you can improve the value of your farm. That way, when it comes time to sell, all your hard work will be worth it. If you wanted to find out the current value of your farm, going through an accredited appraiser is the way to do it. What is a farm real estate appraisal process like though?
Simply put it’s a detailed look into the condition of your farm, the features of the property, and several other nuanced details an appraiser will go over that all factor into your farm’s value. As alluded to before, there are several ways to make your farm that much more valuable:
1. Upkeep Your Property and Equipment
Simply keeping your farm in good shape can actually boost the worth of your property. The fact of the matter is that although adding additional features to your property can help boost its worth, care and attention put into having a well-maintained and smoothly running farm can be one of the largest factors in the value of your property.
To ensure your farm maintenance stays consistent, it’s best to set up a schedule to regularly check each aspect of your equipment so that you can identify any problems before they become costly to fix.
For instance, if you have any water features that you use, ensure the levels of pollutants, their pH level, and the species within it are all checked on at least once a year.
2. Have Enough Drainage Set Up
The last thing any farm owner wants is for their farmland to get flooded, and having the proper drainage systems in place can actually make a significant difference in the value of your farm real estate.
It’s not just the proper piping that’s valuable either, some of the best agricultural drainage options are surface ditches and subsurface permeable pipes. These can move standing or excess water away from poorly drained lands to areas where you can either use it for farming or into approved rivers or lakes (unless the chemicals in the run-off are prohibited by local bylaws to dump into rivers or lakes).
3. Improve the Security of the Entire Property
Finally, improving the security of your farmland property will also raise its value. This applies to all buildings on your property and improving each structure so they’re able to hold up under severe weather conditions in the area and prevent break-ins as well.
Animal security should be considered as well to improve the worth of your farm. Replacing or upgrading to good quality fences and security cameras are the best choice for doing so to keep an eye on animals and keeping them away from any of your buildings or equipment.
Overall, these are just a few of the many ways your farm’s value can be improved upon. Ultimately keeping your farm and farm equipment in good condition, replacing or improving equipment, and making useful renovations will all help in improving how much your farm is worth.