To Sell or Not to Sell?

I am overwhelmed with the question on to sell our farm or to keep it. My family was on their way home from church today, and asked what we thought our farm was worth. We are in the process of moving to Arizona in about a year. Most of my family is in Arizona, or is moving to Arizona. I don't want to move at all, I love it here in Minnesota. I've kind of mentioned to my family that I don't want to move, but they told me that if I dont want to move, then nobody is. I know deep down that my mom and everyone else has their heart set on moving to be with my brothers, so I'm going to keep quiet and let them move.

When my dad asked me how much I thought our farm was worth, I told him it wasn't for sale. It just blurted out. He said if I wanted the farm, I better speak up or it's going to be gone. A guy purchased all our farm land around the farm, but not the farm, houses, or barn/riding arena, yesterday. I get to keep the farm if I want it, but I have NO idea what else I need to think about before telling him that I want it. I love this place, and have lived here my whole life, so I know that I want it, but I don't know what else I need to think about.

I'm kind of confused about what I am asking, but what else do I need to question before I tell them that I want the farm for sure?

If the land all around the farm is already sold for development- if you sit a while and wait- you will be a better price as the developers try to get the land to expand their development.
When I was younger, where I boarded my horse went through the same thing. The owner of the farm literally just waited by the phone as it rang over and over with offers from the fighting developers.

If it were me and my family was willing to give me the farm I would just say straight out... I Want the farm!:D

I have always wanted to live on a farm, you are very lucky:)

If you feel it's the place for you then tell your parents!

Your horses still have lots of land right?

If you moved they would go with you to another place right lol?

Just maken sure cause I love them even tho I don't own them. :D

Keeo the farm, you can lease it out while you are in AZ and then you still have a place ot move back too when you feel ready to move away from Mom and Dad :)

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Originally Posted by Dr.Goodnow

Keeo the farm, you can lease it out while you are in AZ and then you still have a place ot move back too when you feel ready to move away from Mom and Dad :)

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THATS an even better idea.

If you love the place, its worth looking into keeping it. If you're serious about it, ask your parents to show you --

- Property taxes for the last couple of years
- Running expenses (i.e. Heat, hydro, water, etc.)
- Age of major appliances like the furnace, water heater, etc and any warranties that are still available.
- Find out if they are willing to continue to help with the maintanance of the farm for things like roofs, windows, etc.

This will also show that you are serious about keeping the farm and buildings, and open up a good discussion about how to make it happen for you!

Good luck, I hope you get to keep the place you love :)

Thanks everybody!! Leasing the place would be a great idea!

Yes, the horses are comming with us to Arizona, and then mine are probably going to make the trip back again, if I decide to keep this farm. The horses still have their pastures, and the guy that bought the land is a very sweet guy, and he loves our horses too, so he would give us more land back if we really needed it I'm sure.

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Originally Posted by borzoimom

If the land all around the farm is already sold for development- if you sit a while and wait- you will be a better price as the developers try to get the land to expand their development.
When I was younger, where I boarded my horse went through the same thing. The owner of the farm literally just waited by the phone as it rang over and over with offers from the fighting developers.

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Good idea...if it was actually developing here. The guy that bought it is our neighbor, and he just wants it to farm. There is no way that there would be any developments out here within the next 150 years. ;)

This farm in not for sale
It is where my heart belongs
Here, amidst the fields and bar
Between the floorboards on the house
In the haystacks and the sunlight
Here my heart beats

This farm cannot be sold,
It is where my memories reside
And where my future will be rooted
It is from this dirt my dreams are nutured
These rocks, this sky are as much a part of me
As my blood and bone

My eyes know how to spot the constellations here
What time of night Orion wheels above the barn
My senses were formed, and are informed here
Give me a whiff of air, and I can tell you the season
This farm, its buildings, its barns
Its fields and grounds
Keep me in this world,
This farm is my foundation

Yes, you, my family, you, too are part of me
But if you are far away, and I am here
I can connect with you by voice, by letters, by email
But the farm needs to be beneath my feet
It cannot phone, it knows not how to write, type
It knows, simply, how to be
To just be the farm

And that is all I need it ever to be.

Quote:

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Originally Posted by Karen

This farm in not for sale
It is where my heart belongs
Here, amidst the fields and bar
Between the floorboards on the house
In the haystacks and the sunlight
Here my heart beats

This farm cannot be sold,
It is where my memories reside
And where my future will be rooted
It is from this dirt my dreams are nutured
These rocks, this sky are as much a part of me
As my blood and bone

My eyes know how to spot the constellations here
What time of night Orion wheels above the barn
My senses were formed, and are informed here
Give me a whiff of air, and I can tell you the season
This farm, its buildings, its barns
Its fields and grounds
Keep me in this world,
This farm is my foundation

Yes, you, my family, you, too are part of me
But if you are far away, and I am here
I can connect with you by voice, by letters, by email
But the farm needs to be beneath my feet
It cannot phone, it knows not how to write, type
It knows, simply, how to be
To just be the farm

And that is all I need it ever to be.

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WOW!

I say keep it, you'll be happier if you do. :)

Quote:

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Originally Posted by Karen

This farm in not for sale
It is where my heart belongs
Here, amidst the fields and bar
Between the floorboards on the house
In the haystacks and the sunlight
Here my heart beats

This farm cannot be sold,
It is where my memories reside
And where my future will be rooted
It is from this dirt my dreams are nutured
These rocks, this sky are as much a part of me
As my blood and bone

My eyes know how to spot the constellations here
What time of night Orion wheels above the barn
My senses were formed, and are informed here
Give me a whiff of air, and I can tell you the season
This farm, its buildings, its barns
Its fields and grounds
Keep me in this world,
This farm is my foundation

Yes, you, my family, you, too are part of me
But if you are far away, and I am here
I can connect with you by voice, by letters, by email
But the farm needs to be beneath my feet
It cannot phone, it knows not how to write, type
It knows, simply, how to be
To just be the farm

And that is all I need it ever to be.

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Wow, that brought tears to my eyes. What a great and wonderful way to put it.

Your heart seems set on the farm. I would speak to your dad and tell him how you feel. there are lots of people willing to lease farms, but a word of caution...make sure you have references, go see how they live now, and write up some legal considerations. Some people leasing will always take advantage and run a place into the ground. We are on a farm and no matter what the price, we would never sell, land is just becoming too scarce. If you are into horses seriously, you will probably want to come back and make it your home.

Quote:

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Originally Posted by Blue_Frog

- Property taxes for the last couple of years
- Running expenses (i.e. Heat, hydro, water, etc.)
- Age of major appliances like the furnace, water heater, etc and any warranties that are still available.
- Find out if they are willing to continue to help with the maintanance of the farm for things like roofs, windows, etc.

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The above are very important factors to consider. How much land is with the buildings? How will the property be listed on the tax rolls without the additional land that has been sold? There just may be a different rate applied. How much will it cost to insure all the buildings that you have and maintain liability insurance? Before you can make a decision on an emotional level, you need to determine what the costs are on a financial level and if it will be possible for you can cover them.

I wouldn't advocate trying to lease out property in one state while living in another. I've done that and it is a pain, unless you personally know and trust the people to whom you would lease it? Even given that, it is difficult to make your income cover your expenses.

On the other side of the coin, living in Arizona will be so different from living in Minnesota. Is your family certain that they will be happy there? Would *keeping the farm* be possible as a joint project with everyone sharing in the expenses to do that? I don't need to know the answers to any of these questions, just something for you to think about.

I say keep it if you can afford it. Or keep it until you get a big enough offer to move to a better place ;).

In the meantime, I'll lease it from you!! :p