My sister wants to buy a medium-sized farm. She is 18. And she has asked me to ask this question. She currently has $1,680 dollars
How much does a Medium -Sized farm cost?
Where and what kind? Medium sized? About 250 acres? Maybe about $6000 to $8000 an acre in Indiana. With corn and soybeans at near record prices, farms are better than gold currently. Should have been around back in the 80s when farms were being almost given away.
Reply:IIt depends on where and if you want pastureland or cropland. They arent always compatible for both. Ten to twelve acres would be about enough for 8 steers, or four cow/calf pairs depending on the area and range conditions. think she needs to keep saving.
http://www.nass.usda.gov/Publications/To...
Reply:$2000-$5000 per acre depending on soil quality. 600 acres is probably the minimum economical size. I know lots of people who farm over 3000 acres.
So don't buy a farm. Lease it for $100 an acre. Get a tractor and combine, used, for under $300,000, plus plow and wheeled bins....
Reply:How many acres does she want? If she wants 10 - 12 acres - for raising a few head of whatever livestock she's choosing - then she should save for quite a while.... She's gonna need about $250,000.00 or more.... depending on which state she's living in - or wants to live in... If she wants to raise crops and have enough to sell and earn money- She's gonna need a whole lot more than $250,000.00.
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