You might think of investing in ranch land as an option that’s only available to the extremely wealthy. That’s not the case, however, as more people are discovering that they can afford to invest in ranch land.
Start smaller
Ranches can be sprawling properties, but sizes vary. Even if you start out owning on the smaller end of the scale, you’ll still have plenty of beautiful property to call your own and pass down to future generations.
Subdivide your land
In some areas, you may be able to subdivide larger parcels of ranch land. This will enable you to recoup part of your investment or, depending on your timing, even make a profit while still owning your share of the land.
Use it to make money
You may be able to use your land to make money. Host groups who want to stay and work on a real ranch or offer horseback riding lessons. Farming can also produce income, or you might be able to offer your land for hunting or fishing.
Tax benefits
Depending on the state in which you buy ranch land and your particular financial circumstances, you may be able to reap some tax benefits. Wyoming, for example, has very low taxes, including no state income or capital gains tax, and no tax on out-of-state retirement income. Moving to a state like this may lower your tax burden and thus make land more affordable.
Consider financing at favorable rates and terms
You may be able to obtain financing at favorable rates and terms. The Brooks Companies offers financing with low down payments and monthly payments that are under $200 per month for some parcels. They even offer a Job Loss Protection Plan, where they’ll place the agreement on hold with no principal, interest, or late fees for up to six months.
For more information about how to afford ranch land, contact The Brooks Companies. The Brooks Companies rates and terms make owning ranch land far more affordable than you may think.
