Had a meeting with my lovely wife today to talk about pursuing a move to a farm. The main purpose being that we could grow more of our own food and bring the excess to the market.
We have decided to look into leasing a place, and then after we perfect our system trying to raise money to buy a place.
If you're interested here are my notes from the meeting:
Goals for acquiring a farm.
- Identify potential locations
- Plan fundraising to lease or buy farm
Identify potential locations
Should we use resources to lease or focus on buying?
Kate is concerned with owner selling property.
Advantages of Leasing
- Can happen faster.
- Start up cost less.
- Easier to find a working farm to lease, I.e. with structures on it.
- Easier to get out of.
- Landlord has some responsibility as far as upkeep.
- We can continue to live somewhere else and work the farm.
Disadvantages of Leasing
- Investing in someone else's property.
- Landlord's will is a factor in improvements.
- Reliant on the lease.
- Pressure of rent.
Advantages of Buying
- Long term investment.
- Can build what you want when you want and how you want.
- Potential inheritance for the African children.
- No eviction threat.
- Can take your time building.
- Save on rent in the long run.
Disadvantages of Buying
- Not easy to get out of.
- Large lump sum payment required.
- More potential to become mired in local politics.
We Have to Make a Decision
Begin by leasing.