Maybe all the months at home have fueled your desire to own some property where you can enjoy the wide-open spaces. Maybe, as Toby Keith sings, you “should have been a cowboy.” Whatever your reasons, purchasing ranch property comes with an additional set of questions that you must ask yourself before you buy.
Will This Be a Working Ranch?
If you just want a house decked out in western décor on a beautiful piece of land that is different from buying a ranch that breeds and sells animals for profit or even just for fun. The type of ranch insurance Kaufman TX you need to buy or the people you need to employ are just the tip of the iceberg. For a working ranch, the emphasis is on the work. Even if you just want to keep a few longhorn cattle or horses for your own enjoyment, there is much work to be done for their upkeep.
How Much Land Should You Buy?
It’s tacky to ask a rancher how big his spread is, but for the purposes of your real estate investment, it’s important to know how much land you really need. A 70+ acre ranch is plenty of room for you and your guests to shoot skeet, go four-wheeling, build a bonfire and go on nature walks. If you plan to keep a few pet cows, you will need to figure out how much grazing land they need. Be prepared to do the math.
Can You Make the Financial Commitment?
Just like a regular house, a ranch will need upkeep which can get expensive. You will need to determine if you can pay the additional expenses of getting fences fixed, owning a tractor and pick-up truck, hiring ranch hands, paying the veterinary bill, etc. There will always be another bill looming on the horizon.
Whether you were born into the life or are an urban cowboy, owning a ranch is a big commitment. Do your research to make sure you’re ready to take it on before you buy.