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Well today Sept 1 we take over our new farm

Bruce from Can.

Bruce from Can.

Well-known Member
Location
Woodville, Ontario, Canada
Bought a second farm , 166 acres with 145 workable rest pasture/bush. Has a 90 x 45 hip roof bar with a 40x45 L . Also a 50x70 coverall, and a house for my oldest son. $490,000.00 what do you think, did I over pay?
 
Where are you located? That doesn't seem too bad a price for sw ontario. Sounds like a pretty nice farm.
 
Where are you located? That doesn't seem too bad a price for sw ontario. Sounds like a pretty nice farm.
 
All depends on what the comps are in your area. If you got what you wanted at a price you can live with, then you didnt over-pay in my book. Here, in this market, you were right in the money.
 
here in nw il you would be looking at low dollar starting 4 grand an acre bare dirt.
i know of 4.5 acres near me with small house and a couple of out buildings asking price is $140,000 local welder thinks his daughter and son in law are going to buy it.
 
From the prices in my area, you didnt pay enough,
Farm beside me went on the market last week. 92 acres of which 25 acres are tillable, remaing acreage is poor pasture. Bank barn and out buildings need to a good fire and the house needs a complete renovation, asking price $1.2 million.
 
An Auto Zone store paid $400,000.00 for a lot that was less than an 1/2 acre. It's just down the road from the house my parents bought when they left the farm. I think they paid $11000.00 for it back in the 1950's. My nephew just inherited it back in 2008 after my sister died.
It's a big rancher and now has public water and sewage. The house next to him is on the market for $625,000.00. If my dad knew they were getting that kind of money he would roll over in his grave. So you got a good deal. When I built this house in 1968 it cost $31000.00 and my dad thought it was too much. I told him you and I won't live long enough to see it to sell for less. They sold the house next to me in 2006 for $357,000.00. I think it sold for less money than my house back in 1968. I could've bought it, but I didn't like it. Hal
 
No you didn't pay too much. I just bought 40 acres with a ranch house and a 30 X 30 pole barn for $200,000. Really don't need the house just wanted the dirt as it's across the road from me. My dad always told me, He doesn’t want to own all the farm land, just the land next to his. LOL!
 
Seems to me that you did pretty good, although I have to admit that over time, it'll be you deciding whether or not it was a good deal or worth it.

You asked us though, and since you did, congratulations.

A sizable piece of land like yours around me, $3K per acre on the low end. Smaller piece, well my neighbor was selling off 10 acres at $10K per acre, ag not housing. Then again, I passed a boat setting on a trailer along the interstate today that I swore said "Was $478K...", and then passed it again later and it did say "Was $478K but is now $328K". It was a big boat, about 40 footer I guess, and a nice one too as boats go, but if I was spending $100K, it wouldn't be on a boat. I'm not knocking anyone that would, and hope whoever does enjoys themselves, but I'm not spending $100K, $328K, or $478K on a boat.

Congratulations on your farm, but again in the long run, you'll decide that for yourself, and that's all that really matters.

Mark
 
Bruce,

I'm also curious about where (in general) you are. We've traveled in B.C., Alberta, and have friends northeast of Saskatoon. I think it's neat country up there.

Stan
 
Sorry to take so long to reply, just finished 3rd cut hay in small squares today. We farm 50 miles north of the General Motors plant in Oshawa Ontario. Or hour and a half northeast of Toronto. Going to to have to learn how to post some pics, as I really enjoy the pics posted by others . For the 2010 crop season the farm, or I should say 110 acres that is tiled, is rented out and planted to soybeans, Teneat is paying $100 per acres.Thanks for the encouragement, reckon it will take some time to make it back farming , but it sure is fun trying.
 
I'm from Sarnia way and that kinda land would of brought in anywhere from 1.0 to 1.5 mil. depending on who wants it and who will pay!
 
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