For farmers, buying land can be the biggest business decision you make.
It’s also a tremendously emotional decision that many famers make without fully considering all the ramifications, explains Alberta Agriculture farm financial specialist Rick Dehod. “Is it a need or a want?” asks Dehod, who says many times buying land is what farmers want, but not what they need, and that can get them in trouble.
Making good decisions when buying land is the focus of Dehod’s Buying Land? Have A Plan session at the Agricultural Excellence Conference, slated for November 22 to 24, 2016, at Calgary, Alta.
Bernard Tobin spoke with Dehod to get a sneak preview of the session, which will look at 16 questions farmers need to ask when considering buying land. The questions cover everything from talking to your family to the basic fact of whether you can afford it. When farmers answer these key questions, Dehod says they’ll have what’s needed for a strong land purchase plan. Listen below.