5 Questions to Ask Before Purchasing a Florida Ranch
If you are in the market for Florida ranches for sale, there are many considerations that must be made to ensure a successful purchase. Success comes down to understanding your needs, asking the right questions, and translating that information into a smart purchase.
Our land experts are available to help you find the right property, and to help you in your initial planning, we have provided some important question to ask before purchasing ranch land.
1. What is my budget?
Before researching specific Florida ranches for sale, it’s best to determine what your budget will be for the purchase. If you plan to finance the land, decide how much will be put for the down payment. Interest rates and the length of the loan will affect your return on investment, so spend time understanding different options and how they will work in the short and long term.
Also, keep in mind that initial repairs to existing structures may be necessary and first year operation costs will most likely be higher due to livestock and equipment purchases.
2. What size property do I need?
A land professional, experienced in ranches for sale in Florida, can help you find a property that is both within your budget and also provides the property specifications needed. The amount of livestock you have or plan to purchase should be considered, along with grazing rental opportunities, hunting and fishing license opportunities, and crops that will be grown. The property should meet your current needs, but also have the ability to grow should your needs increase over time.
3. Has the land been surveyed?
A ranch land purchase is a major investment, so it’s important to know you are making an informed decision about the property. A land survey will inform you of specific boundaries, unrecorded easements, and zoning restrictions that may affect the use of the land and help avoid potential property disputes in the future.
4. What are the water rights?
If you have livestock, it is crucial that you not only have access to water, but the right to use it as well. Before making a final decision, be sure to discuss the water rights of the property with your agent and learn about restrictions that may limit the operation of your ranch.
5. Is there access to roadways?
Depending on the boundaries of your property you may be land locked and not have access to roadways, which will limit not only personal convenience, but also the ability for others to access your land. For this reason, determine the access to the property. If there are property easements, you may have the ability to cross a neighboring property to access your land.
At Saunders Real Estate, our sales associates can help you ask the right questions and find the perfect ranch to meet your operational and financial goals.