Future on the Farm

[futureonthefarm-blog]

Sticks and Stones

Not much has happened since last post..... except our trailer was stolen! 

We bought the property in June and for the past three months or so have been throwing around ideas of how to secure the place better. Well, we didn’t even have time to do anything before, POOF! trailer gone. The thieves took our gate off the hinges (while it was still locked), took the 18 foot trailer, along with the tool box that was bolted to it (and everything inside), and a nice set of loppers. They also tried to steal our tractor, but fortunately the numb-skulls didn’t know how to start it. Martin couldn’t remember if there was a lock on the trailer, but any good thief has bolt cutters so that wouldn’t have stopped them anyway. So now is the time to hunker down and figure out a long-term security plan. If anything makes you feel like an anti-government, trust no one, prepping conspiracy theorist, it’s definitely having something stolen from you. Time to really make strides to finish the fence and get it back in good shape, make the gates nice and strong with more than one lock, put up some cameras, and come up with some interesting ways to deter a thief. Money is important to me, so having a $3000 trailer stolen from under our noses really broke a little piece off my heart.... but the fact that someone walked their ass onto our property, put their nose in our business, saw what we had and took what we earned... burns me up. We’ve been looking on for sale websites ever since we found out it was gone and unfortunately I think our window for finding it has passed. Sticks and stones will break our bones, but you’re not going to scare us. Step foot out there once more, I dare you. 

Oh, and on a happy note! We met with a CPA and explained our concerns with handling our finances moving forward, so I think that was a big step in a good direction. Even if they can’t help us with some of our questions, they know someone who can. 

[futureonthefarm-blog]

Taking Shape

So it’s been about 2.5 months since we closed on our land. Closing went well, the owner financing is going well, and cleaning up the property is going amazingly. 

When we first closed, we walked into a property that was so grown over with vines, invasives and scraggly brush, that it was hard to see the beauty in it. There was a huge hole where the old house was, full of junk and house materials. There’s dumped trash in several wooded areas. There’s a barn that has good bones, but definitely needs to be made more stable. There’s brush piles from past logging operations, and there’s washed out roads. A lot of work for sure. We saw potential and we knew how beautiful this property could be... that’s why we bought it. 

We’ve taken the last couple of months and worked extremely hard to start shaping the land to what we envision. We started with a chainsaw and quickly realized it was not the most efficient. A friend of ours brought his skid steer out for the day and did 10x more work than what we could do in the same amount of time with a chainsaw. This past weekend that friend brought his skid steer out again and we rented one. The difference is absolutely AMAZING. We certainly feel like a skid steer is in our near future, just gotta find the funds! 

Here is a before and after of what we did this past weekend...

Now that we see the land shaping up, I’ve started thinking more about our financials and how land equity construction loans work. I talked to a guy at Farm Credit and he explained the process to me and advised we get a CPA. We used to have one and then I started doing our taxes myself because we didn’t have anything all that complicated. Now that we own this land and the tax code has changed, I really need some advice from a CPA on the smartest avenue for us. Do we pay down the land and create some equity there, or do we pay down the house and create equity there? Either way you can’t lose, I just feel like our house will hold value a little better than the land will. I think we bought that land for a lot more than what it will appraise for, whereas our house is inside city limits and in a good neighborhood. The only thing risky on that path is the housing market and what it will decide to do in 5 years when we decide to sell. 

We’ve also really been thinking about ways to improve the value of the land. I think we are doing well so far with cleaning it up, landscaping it, and making it look nice. We already have well and septic on the property, so that’s a plus. We already have a fence around most of the property, it just needs to be finished and improved. There are spots that need some work. Dumping spots need to be picked up, bare dirt from clearing needs to be seeded to prevent erosion. I think this land would do well for hay... we just don’t have the equipment for it. Maybe soon? 

Moving out there is 5 or more years away, but I already can’t help but to plan the house and decorate in my mind. It’s so much fun! I know everything I pick out now will probably be out of style by then! We picked out our house plan (for now)...

I love it so much! We still don’t know where the house will be, but once the land shapes up a little more, I think it will become more obvious. 

I’d like to move the barn down to the lower access (there’s a lower gated entrance), so that Martin can use that entrance and that area in general as farm/utility. The house will be built up the hill, just not sure where exactly yet. I definitely want a big garden and garden shed, but I don’t know where that will go either. It would be beneficial to put it near the house, but I also don’t want it to be right in the back yard or be an eye sore or anything. We’ve started looking at driveways and entrances, types of fencing etc... and we both love this one...

The only thing we’d change is the white. We really want our fencing to be black, and the gate would also be black, and also probably metal. Love the brick columns. What’s neat is we plan to use the brick from the old house chimneys for the entryway columns. 

I’ve also already started thinking about what animals we want. Martin of course wants cows, but I think I would like chickens, goats, ducks, and maybe or pig or two :) We’ll see. 

We have a lot of work to do still, but especially after this weekend, seeing all the progress that was made with the skid steer, we are both SO excited for what’s to come. Stay tuned. 

[futureonthefarm-blog]

Coming up on Closing

One of the things that drew me to Martin was the fact that he dreamed of the same future I did... acreage, privacy, family, hard work, peace and quiet. This year Martin and I will have been dating for 8 years and married for 5. We have a 1 year old little boy and another (girl or boy?) on the way.

Over the years, we’ve been very conservative with our money. We’ve been fortunate that our income has been above average since we tied the knot, so of course that makes it easier to save. We’ve been putting away a special amount every month since 2013, and saving as much as we can out of bonuses. It’s hard when you also have to pay off student loans and other debt. We never had a lot, but it adds up when you’re trying to get rid of it all! We never took a dime out of savings until last year. We decided we needed some fun in our lives, so we bought a pontoon boat! It’s a little old and wasn’t that expensive, but it sure has bit us in the ass financially. We still don’t regret it. Sometimes you play tug-o-war with planning for your future and living in the moment. I think the boat purchase and having a child has given Martin and I that happy medium.

Ever since we started saving in 2013, the goal has been a forever home and as much land as we can handle. Over the past 5 years, we’ve struggled with how to do it. Should we find land first and then build? Should we find land with a fixer upper? Do we wait until we have enough saved up to buy land and build all at once? It took us until this year and finding the land that we loved to learn that buying land and building later was the best option for us. It’s not everyday you find a piece of property you fall in love with.

We decided to move forward with purchasing 61 acres and we couldn’t be more excited... and nervous. We haven’t even closed yet and this entire process has been such a learning curve. So many questions. Do we get a loan through the bank? Do we try owner financing? Is owner financing even legit? Do we need an attorney? It’s been crazy. We decided to go the owner financing route and so far it seems like a good decision. Right now, the only thing left to do is sign a contract and write a check. It’s kind of mind-blowing to be honest. Our dreams are coming true next week. Martin and I have been dreaming about this day for only 8 years. I, myself, have been dreaming about this day since I was a little girl. For people who don’t have the same dreams and lifestyle goals, it’s hard for them to understand. I can’t tell you how many times I’ve heard, “61 acres?! What in the world are you going to do with 61 acres?!” or how many times I’ve gotten an awkward smile when I say we are finally able to purchase land and can’t wait to have some cows and chickens and goats. Before I decided to stay home with my boy, I worked in Corporate America. I got a lot of those awkward smiles from people who’s ultimate goal is to have a big house and fancy cars. They just didn’t get it. Unfortunately, we haven’t gotten a ton of support from family. We’ve always been pretty modest with our money so I think a lot of family members are worried we are over-extending ourselves. I keep telling my dad, “You’ve been teaching me how to save money and invest since I was a little girl. Trust me. You taught me well.” As much as we want our family to jump up and down in excitement and ask us tons of questions and want us to take them to see it, I guess it’s somewhat comforting to know that they are only worried because they love us. I can’t wait for them to be able to enjoy this property with us.

So next week is definitely a big week. I get my first ultrasound with my 2nd baby and Martin and I close on 61 acres. My nervousness has finally turned to excitement and we just can’t wait to hop on a tractor and start working the land. Next post, I’ll tell y’all a little bit about the land and and it’s history.