Chance to expand the farm??? Is it worth more??

Discussion in 'Whitetails General' started by Jamie557, Feb 1, 2018.

  1. Jamie557

    Jamie557 Active Member

    179
    Apr 3, 2012
    I own 80 acres and I have the rare chance to buy some ground that a joins mine. I can purchase either between 53 to 55 acre tract or a 63 to 65 acre depending on survey track.

    I had recently been thinking of selling my farm as it is paid for. I use it for hunting and recreation only. The farm next door to me has just come up for sale and the new owners dont want the timber. The tracks I would buy would be all timber. They are willing to survey it off, bulldoze the line and fence it as they run cattle. I would pay half of the survey and closing cost. No real estate commission or contract fees.

    The price is higher than what I think it is worth but it is a once in a life time purchase opportunity and if I dont buy it they may sell it to someone else and I will have a new neighbor.

    If I buy this place I will also be eliminating the two to three hunters who hunt the ground hard all season.

    The cost is $2,000 per acre. I gave only $700 an acre for my farm a few years ago. I would say this land is worth maybe $1300 to $1400 an acre. It has some marketable timber. Probably $10 to $15 thousand of walnut. I sold about 20K of walnut off my place when I first bought it.

    Would pay more for a joining ground than what its worth???? I attached some pictures the pink is the new ground. The rectangle on the right is my current 80 acres.
     

    Attached Files:

    Last edited: Feb 1, 2018
    STTH likes this.
  2. swat1018

    swat1018 Active Member

    816
    Jan 1, 2013
    LaBelle
    I would do some research. If you were planning on selling, and the cost of the new land is above market value, you won't recover your money if you sell soon. It's getting to the point that about everything is worth $2K. I'd do some research plus decide if you are going to keep or sell.
     

  3. Jamie557

    Jamie557 Active Member

    179
    Apr 3, 2012
    Max would be buying 65 acres for $130,000 plus the $56,000 for my 80 would be $186,000. That would put me at 145 acres total with $1282.00 per acre invested.

    If I had to sell my place (80 acres) I would ask a minimum $1400 an acre minimum. I think the ground is worth $1500 an acre but $2,000 is a stretch for me mentally.

    If I bought this I would not sell my place.
     
  4. techteacher

    techteacher Land buying addiction Lifetime Supporting Member

    Sep 11, 2009
    Troy,
    What county? That makes a big difference in price.
     
  5. Jamie557

    Jamie557 Active Member

    179
    Apr 3, 2012
    Laclede.

    I think I should offer $90,000 for the 53 to 55 acres ($1,636 per acre)
    or $105,000 for the 63 to 65 acres. ($1,615 per acre)
    max.

    One of my neighbors recently gave $3000 n acre for the 80 acres that a joined him. Sometimes ground that a joins you makes people pay/want more
     
    Last edited: Feb 1, 2018
    Cook likes this.
  6. IL MO Hunter

    IL MO Hunter Member

    982
    May 29, 2012
    Metro East
    Strictly my opinion here but I would definitely pay more for land adjoining what I already owned. As you said, that opportunity may not come back around for a while, if ever.

    If the going rate in that area for a comparable tract is 1500, I’d offer them a little more than that and show some proof of the comparable sales or a legit appraisal even. I agree that $2k would be a stretch if 1500 is what others are selling at. Your numbers above,$1600ish, would seem reasonable to me.

    That is all going with the assumption you would be keeping it for a long time.
     
    Cook likes this.
  7. deep woods goat hunter

    deep woods goat hunter I'm not crazy, I just want it more than you.

    I’m not familiar with that area but around here (Ncmo) I’d be jumping all over that
     
    birdhunter33, KingCoal1 and beanpile like this.
  8. techteacher

    techteacher Land buying addiction Lifetime Supporting Member

    Sep 11, 2009
    Troy,
    I would and have paid extra for adjoining property. It rare adjoining property comes up for sale and may never again. I have also over paid to lease ground that boarders mine just to keep others off and have better access
     
  9. antlercrazed

    antlercrazed Well-Known Member

    Sep 8, 2010
    North Missouri
    Land is worth what someone will pay.So it's always worth more to an adjoining land owner.If they are serious about selling I think you can get it for $200 more per acre than the market average in your area.Because outsiders will wanna pay market value whereas you can afford to pay a little more because it turns your farm instantly into a very marketable size property.People are constantly looking for 100-150 acre parcels.So if nothing else is selling for more than $1200-$1300 if they are serious and you offer them $1500 they will take it.I wish land where I lived was affordable. 20 acres here cost $240k
     
  10. beardsNspurs78

    beardsNspurs78 Well-Known Member

    May 24, 2008
    Philly, MO
    $700 seems crazy cheap. $1400 is still cheap. But I live in NEMO. Dont ask me. $2500/acre up here is a good price. Sorry....that dont help you at all. BUT....buying ground adjoining a piece I already owned.....yep.....I'd be all over that if I could swing it.
     
    birdhunter33 likes this.
  11. Gamegetter

    Gamegetter Well-Known Member

    Jan 21, 2004
    My first question to you, is why did you want to sell your place now that it is paid for? Kind of hard to give you advice without that piece of the puzzle. Are you sure the 2-3 hunters aren't going to find another place bordering your ground to hunt?
     
  12. BC-Buck

    BC-Buck Active Member

    411
    Feb 2, 2014
    Pike Co Mo
    What is he paying per acre for the pasture or tillable portion?
     
  13. booner

    booner Member

    618
    Jan 21, 2006
    Two other questions not clear from the photos or info. How do you currently access your piece and how would someone access the new pieces? It does not appear that any roads touch your place or the proposed new timber pieces to the west. Would the new pieces come with an easement? If so would that new easement allow better access to the west side of your current piece? How would the new easement. Access can play a big factor in value and appeal when I’m looking at a farm.
     
  14. 67Firebird

    67Firebird Chicken Man

    If you can afford it, buy it.

    If not, somebody else will buy it, clear cut it, and build houses.
     
    Skduckhunt and beanpile like this.
  15. KRAZO

    KRAZO Active Member

    147
    Jul 28, 2017
    Southwest MO
    Why would you sell your current place? What could you buy today with the money you would have invested in the new place& your current farm combined? I agree with booner, access is big, looks like no access to the new property. That’s a big obstacle for most. Not sure I’d pay a premium without knowing the answers to these questions.
     
  16. gurgalunas

    gurgalunas Well-Known Member

    Jan 3, 2013
    Platte City
    Looks like a easement on the driveway, cutting over to the NW corner of the new tract should be pretty simple. You will need a way to get logs out if you do log it... not sure if that eastern 8-10 acres would be worth it. I'd have to see how it lays, check for high usage trails, etc. Cows and fence may isolate that area, or could improve it, you never know.

    Price-wise, I'd guess 2000 would be generally acceptable. Use the fact that's it's higher than going rate in your negotiation to get easements, logging access, etc.

    Land is usually a good investment. They are not making any more of it...
     
    Last edited: Feb 2, 2018
  17. Gmann

    Gmann Member

    62
    Mar 20, 2013
    Allen, TX
    This!!
     
  18. shores

    shores Member

    425
    Jan 31, 2009
    Fenton
    Whats it worth keeping the possibility of bad neighbors off the ground?
     
    beanpile likes this.
  19. hazelvillebucks

    hazelvillebucks Well-Known Member

    Oct 28, 2014
    LEGAL EASEMENTS TO ACCESS FROM DIFFERENT DIRECTIONS WOULD INCREASE THE VALUE TO ME.
     
  20. flatlander_

    flatlander_ Really? Show me. .

    You can't touch ground around here for that kind of money and if it bordered me I'd pay more just to have it.

    I'd be jumping all over it if it was me and I was thinking about keeping it long term. They ain't making any more of it.