A hobby farm is a small farm put up primarily for pleasure. It is similar to homesteading but the difference is that hobby farmers do not rely on it as their main source of income.
Is hobby farming for you?
If you are the kind who likes tending to a garden, you have a green thumb, you generally love farming and what it entails, and you dream of raising your own food, then hobby farming could just be for you. There are lots of farm land for sale in Northern Colorado where you can engage in hobby farming. But before doing so, first consider the following:
- You need to have a sustainable source of income
have day jobs to pay the bills and cover day-to-day expenses. But it can be pleasing to actually make money out of hobby farming. This is why there are quite a number of people who engage in this because they love what they are doing and are actually earning from it.
Do keep in mind though that sometimes, the pleasure of planting and caring for farm animals may be outweighed by the financial stresses of maintaining your farm. If you plan to do this purely for leisure and not to use it as a main source of income, then go on and indulge yourself.
- You have to be ready for extra responsibility
Farming in itself is no easy task. The same is true with hobby farming. It’s a big responsibility to manage your farm, no matter how small. If you want a harvest of big red tomatoes and succulent peaches, simply planting seeds on the ground and watering them every day isn’t all it takes. There are many other factors to consider:
- The kind of soil you use;
- Access to sunlight and proximity to water sources;
- Keeping pests away;
- Planting the right plants in the right season; and
- Rotating crops to improve output.
Many hobby farmers go beyond planting and also raise animals like chickens or goats. To keep them strong and healthy, some everyday duties include:
- Providing enough food according to their diet requirements;
- Giving them clean water;
- Bathing them and keeping their living areas clean; and
- Keeping an eye on their health.
- There will be no tax breaks
Also, understand that tending to a hobby farm does not qualify you for a tax break. Farms that qualify for this exemption are those intended for business and not for enjoyment. Consider having your farm listed as a business venture so you can benefit from this tax break.
- Consider volunteering
Reading about hobby farming is one thing, but actually doing the work is another matter. Before you start investing in your own hobby farm, you may first want to get your hands dirty and volunteer in farms within your area. Get to learn the basics of raising farm animals, planting crops, and handling farming equipment.
Testing the waters is the best way to know if hobby farming is really for you.
Are you ready to start your own hobby farm? Finding the right property for setting it up can be a challenge. Let our team of real estate professionals at HorsePropertyDeals.com help you out. Give us a call at 970-672-6976 or send an email to Claudia(at)HorsePropertyDeals(dotted)com.