Buy or rent farmland: Which option is right for you?
Deciding whether to buy or rent farmland can be a difficult decision. Lance Stockbrugger explains the benefits of both in this video.
Like equipment, farmland is one of a farmer’s biggest assets. Get the latest national and provincial values in the 2017 FCC Farmland Values Report.
- Interest rates affect land prices – the lower they are, the less overall cost for the land
- Far too often, people make land purchasing decisions based on emotional reasons rather than economic truths
- Interest rates also affect whether you should sell or keep your land
- Relationships are key in land rental – both parties need to be well informed so they can work together as a team