Buying Your New Hobby Farm

Buying Your New Hobby Farm

Purchasing a unique property with acreage in Minnesota requires specialized knowledge, extensive resources, and expert guidance. Whether you're seeking a picturesque countryside estate, a secluded cabin retreat, or a working farm, the complex nature of these properties necessitates the assistance of a professional realtor. While some buyers may consider navigating the process independently, the advantages of working with a realtor are invaluable.

Your Guide On The buying Process Of A Hobby Farm:

1. Hire a Real Estate agent Purchasing a hobby farm can be a complex process, and working with a real estate agent who has experience in this area can offer several benefits.

2. Determine your budget The first step in the buying process is to determine your budget. Consider all the expenses involved in purchasing and owning a hobby farm, including the down payment, monthly mortgage payments, property taxes, insurance, and maintenance costs. You'll want to make sure that you can afford the property you're interested in without stretching yourself too thin financially.

3. Secure financing it's time to secure financing for the purchase, work with a lender to get pre-approved for a mortgage. Make sure to read and understand all the terms and conditions of the loan agreement before signing.

4. Research available properties Once you have a budget in mind, we will start researching available hobby farms in your desired location. 

5. Consider the property's features and amenities As you visit potential properties, consider the land's features and amenities. Think about how you plan to use the land and whether it can accommodate your needs. Consider the size of the property, the quality of the soil, the availability of water, and the presence of any outbuildings or infrastructure. Make sure the property's features align with your plans for the hobby farm.

6. Assess the condition of the property It's important to assess the condition of the property before making an offer. Consider hiring a professional inspector to conduct a thorough inspection of the property and its structures. Look for any signs of wear and tear, damage, or potential issues that may need to be addressed before finalizing the sale.

7. Make an offer and negotiate Once you've found a property that meets your needs and budget, it's time to make an offer. We will determine a fair price based on the property's condition, local market conditions and using our mls system to look at recent solds in the area. Negotiate with the sellers agent to ensure that the sale terms are favorable to you and that any necessary repairs or upgrades are taken care of before closing.

8. Preparing for your move Moving to a new home can be an exciting but stressful experience. Here are some steps to help you prepare for your move and make the transition as smooth as possible. Declutter and organize, Create a packing plan, Hire a moving company, Update your address, Call all utilitie companies to connect service, Pack a "first night" box, Prepare your new home. You can click here for my moving guide!

9. Close the sale Finally it's time to close the sale. I will work closely with your lender and title company to ensure that all the necessary paperwork is completed and that the property's title is transferred to your name. We will conduct a final walkthrough of the property to ensure that all repairs and upgrades have been completed to your satisfaction.

By following these steps and working with experienced professionals, you can navigate the buying process of a hobby farm with confidence and find the perfect property to start your agricultural adventure.

Click here for my full ultimate buyers guide

Moving Check List 

8-9 Weeks Prior
*Create a realistic budget for moving expenses. If you’re hiring professional movers, remember small things add up like tape, boxes,transportation, storage, etc.
*Request time off work for moving day. Give yourself ample time to get everything moved and settled, without the stress of work responsibilities sitting in the back of your mind.
*Get started on home renovations. If there is painting or major remodeling, you will want to get a head start on this sooner than later.
*Purge time! Go through every room of your house and begin getting rid of items you know you won’t keep and identify any items that can be donated to charity.
*If you have children, make sure you reach out to their new school(s) for information on registration and transfer records if necessary.
6-7 Weeks Prior
*The worst kind of surprise is when your movers are at the door of your new home and you realize the couch just won’t fit. Make sure to measure rooms and doorways and confirm all furniture will fit
correctly.
*Create an excel spreadsheet of family members, friends, and colleagues who will need your new address and share it with them via email.
*Contact your doctor, dentist, and veterinarian to get copies of all records and arrange to transfer files to new health care providers. You can do this online if you have access to a patient portal.
4-5 Weeks Prior
*Pack items that you need easy access to in an “essentials” box, such as toilet paper, soap, trash bags, chargers, box cutters, tape, tools, paper plates, snacks, towels, etc.
*Contact utility companies and transfer or cancel service. Make sure they’re aware of your move date and arrange for service and installation as needed. Click HERE to see the providers for the city you are moving to in MN.
2-4 Weeks Prior
*Change your address with important service providers, such as your bank(s), credit card companies,subscriptions, and others. Don’t forget to submit your address change to USPS.com.
*Check insurance coverage in all areas. Update or transfer your homeowner, vehicle, or any other
insurance you may have. Know the insurance your moving company provides will generally only cover the items they transport for you.
1-2 Weeks Prior
*Unplug, disassemble, and clean out appliances.
*Ensure all essential utilities like gas, electricity, water, and internet services are ready at your new home.
*Empty your safe deposit box if you have one.
*Clean stovetop and oven.
*Defrost freezer.
Moving Day
*Collect all keys, finish any touch-ups, and complete your walk-through. 

*Do a final check of closets, cupboards, drawers, basement, and other areas where things may have been forgotten.

What defines a hobby farm in Minnesota?