Lifestyle / Hobby Farms

Are there any tips for getting a mortgage with Lifestyle ... All sorts of factors influence a bank’s decision making when it comes to financing small farms.
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I want to buy a ‘Lifestyle’ or ‘Hobby Farm’. What are the things I need to think about from the outs

It’s vital that you develop a clear idea of how you want your lifestyle farm to enhance your life.
  • Make sure you have the right expectations of a move to a rural area. Understand what it means for your lifestyle in terms of general infrastructure i.e. communications, roads, agricultural supplies, and general support services.
  • Make sure that you’re realistic about your ability to manage the land you intend to purchase
  • Good communication with your real estate agent is vital. Hobby farms can be located a long distance from where you live, so you need someone who can provide detailed information about the area as well as the type of property that will suit your needs. As ‘Lifestyle Specialists’, First National members are well placed to give you good advice.
  • Understand the legal obligations of running a small farm and elements such as caring for animals, identification, tracking / tagging systems, and local Council and State Government planning restrictions and building codes. There are also laws for things like controlling weeds and pests.
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