Invest in Your Farmland
Upgrading the Farm
It’s time to make some upgrades on the farm, but you’re not exactly sure where to invest the money. You could build a nice new machine shed. Or, you could invest in new grain storage since you’ve had to store the last few years at the grain elevator. Or even better yet, you could invest in your farmland and tile the land. But let’s take a walk through the pros and cons of each.
A New Machine Shed
You currently use an old machine shed that could fall down with the next windstorm. Half of your equipment sits outside, while the other half sits inside the shed. You’d like to have a nice, big machine shed with heated floors and a working toilet. That would be the ticket. And building a new machine shed will keep your equipment nicer and have a higher resale value when you go to sell or trade-in. Think about the increase in productivity you could have while being able to do some of your own shop work. We happen to know a great company that can help you with putting up a machine shed. Check these guys out.
For the last few years, you’ve had to store your grain at the grain elevator after harvest. While this isn’t a big deal, it would be nice to not have to pay a storage fee. And it would be handy to not have to make the haul to town directly from the field at harvest. You could build a grain bin on your home farm, and it would save you time and fuel by not having to truck to town 20 miles away. You need to invest in your farmland, and this is one small way you can do it. Having your own storage place for your grain will allow you to hold onto it until a better price comes into play. This could be a great investment and help you to have a more aggressive marketing strategy with selling your grain. This seems to be pretty important in today’s volatile markets with the current trade wars going on.
You own a piece of farmland that could use some tiling. You’ve had it for almost 5 years and have noticed a few patches within the field that could use some
If you’re looking for a great contractor, we know of one. Call Jacob at Hands On Excavating. If you want to know a few more pros and cons of tiling your farmland, here is a great resource that talks more about it.
Lasting Effect for Future Generations
After talking it over with your family, everyone has agreed that tiling the farmland is the best way to go. Your son-in-law is planning on taking over the farm someday and really pushed for the land the be tiled. It was the only investment of the three that would increase in value significantly, and make you more money. While the new machine shed with heated floors or a new grain bin would be convenient right now…you’re happy to take on a project that will have a lasting effect on the future generations to farm your land.
While any one of the options would be a great option for anyone, ultimately the choice is up to the farmer and his short and long term goals for his operation.
If you have questions on how tiling your farmland can effect the value, give David a call.