More and more people are creating what use to be called “homesteads” but now are more commonly referred to as “backyard farms”. With the rise in interest of farm-to-fork eating, people are finding it not only economical and healthier, but fun to grow and raise your own fruits, vegetables, eggs and meat. The other notion of an “edible landscape” has taken off with the concern of the bee population and even the drought. So, when looking at buying or selling a home does a sustainable farm add value and if so how much?
Today’s chicken coop is yesterday’s solar panel. Meaning, the increase in desirability for farms is much like a few years ago when everybody was evaluating the value of solar panels on a home. Much like solar panels, there are many questions to ask regarding an established farm. For instance:
- Is the farm irrigated with well water, city water or irrigation water?
- What kind of water line system is in place?
- How much of the farm is set up on a watering system?
- Is the farm certified organic?
- What animals, equipment, outbuildings and infrastructure stays with the property?
So, just like solar panels that save you money, can a working farm save you money too? And since we can provide a savings estimation for solar panels, do we give a savings estimation for a farm? I believe we do depending on the size and production. Sellers can help provide production levels and income levels to potential buyers.
As more people create more elaborate farms there will be more negotiations and curiosity about values. So, be prepared to have questions and answers ready since sustainable living is the next big wave in real estate. And for me, a way of life that is here to stay!