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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What sorts of questions should I ask myself when buying a Lifestyle Farm?

Before you buy a rural Lifestyle Retreat or Hobby Farm, ask yourself…
  • Is it located a reasonable, short distance from a town and services?
  • Are you ready to learn more about your chosen farming activity?
  • Do you have the necessary disposable income to support the wellbeing of livestock?
  • Are there successful similar small or hobby farm enterprises nearby?
  • Are you and your family fit, committed and ready to meet its demands?
  • What financial benefits do you expect, or need, to make the farm economically viable?
  • Are you able to deal with Mother Nature’s challenges?
  • Is the activity you plan suited to the landscape and capability of the land?
  • Is there enough water to carry out the activity that you have in mind and is it of suitable quality?
  • Are all required services provided to the property? If not, can they be provided economically? Or is it an area that will always have limited services? Services include phone, gas, water, sewer and electricity.
  • Is there soil erosion on the property that will be time consuming and expensive to fix?
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