c45472e4 fd38 46d6 85c8 936a3ace156c

Amanda Robertson

Home Sales

Buying a farm in the Gloucester NSW region

by
Buying a farm in the Gloucester NSW region

The attraction of rural living is still strong, although the demand has reduced from the peak activity we saw in 2022. However, with a growing number of people embracing remote work, the dream of owning a farm or maybe a lifestyle farm property has become a reality for many and we’re seeing healthy prices again.

Rural properties do spend more DOM (days on the market) than city properties but that doesn’t always mean the prices drop; in fact, many regional areas are approaching the peak prices we saw during the pandemic. You should be aware, though, buying a farm is a significant investment, and it’s essential you approach it as what it is; a major transaction. Read on for how to ensure you cover all your bases.

How to buy a farm: what you need to know

If you’re a first-timer buying acreage or a working farm, run through this check list first.

1. Define your farm goals
Before you start browsing property listings, it’s vital to define what you want to achieve with your farm. Are you seeking a lifestyle change, a profitable business venture or a combination of both?

If you plan to run a commercial farm to generate income from crops or livestock, you’ll need to conduct thorough research. A deep understanding of the land is essential. Factors such as soil quality, water availability, and market demand will influence your farm’s profitability. Consulting with local agricultural experts can help you determine the optimal acreage for your chosen crops or number of animals.

For those pursuing a lifestyle property or hobby farm, the land requirements are less stringent. A few acres can be sufficient for a small vegetable garden, raising a few livestock for commercial use or stocking ‘ornamentals’ like alpacas, donkeys or a Highland cow or two. However, you’ll still need to consider the space required to cultivate feed for your animals. You’ll also need to consider the cost of supplementing their feed and where you’ll store that feed.

2. Make location a priority
If you plan to sell your farm produce, location is paramount. You’ll need easy access to major highways for efficient transportation. If you’re new to the area, get a knowledgeable real estate agent/stock and station agent to help you research local markets and distribution channels to determine the best location for your farm.

3. Assess the infrastructure
A farm’s infrastructure is as crucial as the land itself. You’ll want to inspect sheds, stock yards, water tanks, fences, power supply, water troughs, solar panels, boreholes, windmills, dams and irrigation systems thoroughly. These are big-ticket items and their condition will have a huge impact on your initial investment and ongoing expenses.

4. Understand your legal obligations
Understanding the legal aspects of farm ownership is essential. Investigate property rights, including easements and access rights. Don’t forget to look at water licences, and check if building permits are required for additional structures like dams or dwellings. Be aware of local regulations regarding genetically modified seeds, pest control and invasive species management.

Financing your farm purchase

Securing financing for a farm can be challenging due to its unique nature. Banks often have stricter lending criteria, including property size, for rural properties. However, government grants and programs designed specifically to support agriculture may be available. It’s worth exploring grants offered by the Department of Agriculture, Fisheries, and Forestry, as well as loans offered through the Regional Investment Corporation. You might find the grants available offset the tougher lending conditions.

Doing your due diligence

You really need to conduct thorough research before making an offer. If you have a qualified rural property agent on side, they can help you. You might also consider engaging an agronomist to report on soil quality and pasture improvements. A pre-purchase inspection can uncover potential issues and help you negotiate a fair price.

Engaging the right real estate agent or stock and station agent

When it comes to rural land parcels and farms, you need the advice of an agent who’s in the know, who’s done what you’re doing and understands the challenges and rewards of buying a farm.

The bottom line

Buying a farm is a significant undertaking, but with careful planning and preparation, it can be a rewarding experience. By understanding your goals, conducting thorough research and seeking expert advice, you can increase your chances of finding the perfect farm to suit your needs and aspirations.

Need advice on selling your Gloucester region property?

As a proud local, I’m here to guide you through the process of selling your home. I specialise in lifestyle, rural and residential properties. I’ve done it myself and helped many families over my career. So give me a call; I’m here to help.

Top tips for selling Gloucester region vacant land

by
Top tips for selling Gloucester region vacant land

Selling a house or apartment is relatively straightforward for a seller or real estate agent. Buyers can walk through the space, picture their furniture in the home and imagine themselves living there. Vacant land, however, presents a different challenge. It’s a blank canvas, and the key to attracting buyers lies in igniting their imagination.

In this article, I talk about the pro tips we use for selling vacant land so sellers get the price they need in a realistic time frame. We’re selling not a piece of land but a dream property. In this article, I go through the steps we take to position the property.

Step one: Understanding the land

Before we do anything, we assess the condition of the land and the access to utilities and amenities.

  • Condition: Is it cleared and levelled or does it need some work?
  • Location: Is the property on a busy road or is it semi-rural? We need to mention proximity to schools, hospitals, shopping centres and public transport.
  • Utilities and services: Is the land connected to essential services like electricity, water, sewerage and internet? If not, how easy will it be to get connected to essential services or what alternatives (such as water tanks) are possible?

Step two: Who is our buyer?

The next step is identifying our target market. Who’s the most likely buyer for your land?

While our potential buyer isn’t as obvious as they might be for a house, some possibilities include:

  • Investors: Are you selling land with potential for future development or subdivision? We would target investors who may be drawn to the vacant block’s long-term value.
  • Home builders: Families or individuals looking to build their dream home could be a great fit. If home builders are our market we highlight the benefits of a custom build on your land. (More about that later.)
  • Land banking: This can be an option for buyers acquiring land for future use, such as building a holiday home or waiting for development opportunities.

Step three: Marketing strategies to inspire

Once we’ve decided on our primary target market and the land’s strengths, we can get going with our marketing approach.

  • Partnering with builders: We’ve collaborated several times now with a builder, G. J. Gardner Homes. One of their representatives will visit the land, choose an optimal building site and provide professional renders of potential homes on your land to showcase the possibilities. In essence, they create a house-and-land package that’s highly appealing and helps buyers to a faster decision. Here is a sample of one of their rendered homes on a block I sold recently at Henley St, Stratford via Gloucester.
  • Leveraging technology: We use online real estate platforms like realestate.com.au and Domain. These are essential for reaching a broad audience. We also insist on getting professional photography as most buyers look online first before making an enquiry. Photography could include drone shots and clearly marked boundaries so buyers understand what they’re getting.
  • Using social media: Don’t underestimate the power of Facebook and Instagram. Targeted social media ads can put your land in front of the right viewers.
  • Traditional signage: Despite our online lives, there is power in a well-placed ‘For Sale’ sign for capturing the attention of potential buyers driving by.

Step three: The details

We aim to inspire so we’ll go all-out to highlight our local lifestyle, emphasising the natural beauty and recreational opportunities in our area. We’ll also have information on hand about zoning regulations, easements and any restrictions on land use. Of course, we’ll have researched comparable land sales in the area to ensure a realistic asking price. Sometimes we might suggest getting a full land valuation. Getting the price right will help attract buyers and potentially lead to a faster sale.

Strategy wins

Selling vacant land in NSW requires a strategic approach. By understanding the target market, showcasing the land’s potential and implementing creative marketing strategies, we can transform the perception of your plot from an empty space to a highly desirable property. This way we aren’t selling land only, we’re selling a dream and a future.

Need advice on selling your Gloucester region property?

As a proud local, I’m here to guide you through the process of selling your home. I specialise in lifestyle, rural and residential properties. I’ve done it myself and helped many families over my career. So give me a call; I’m here to help.