In this episode of The American Landman, we explore a fantastic farm in Pepin County, Wisconsin. Owning an old farmstead like this can be a dream come true for many, but there are important considerations to keep in mind when purchasing a property like this. In this article, we will discuss the finer points of buying a hobby farm, including the condition of the house, maintenance of the buildings, repurposing old structures, and the potential for earning income from the property.
The Historic House
One of the highlights of this farm is the beautiful old house that has stood for close to 100 years. Houses like these often require some renovation and repairs, including a new roof, siding, foundation, mechanicals, septic, and wiring. If you’re not particularly handy, hiring professionals for these tasks can be costly. It’s essential to have the ability and budget to handle the necessary work before taking on a project like this.
Maintaining the Buildings
Another important aspect to consider when buying an old hobby farm is the maintenance of the buildings, particularly the barn. In this case, the farm boasts a stunning, well-maintained red barn that has stood the test of time. However, it’s important to note that maintaining these old barns requires consistent effort. When animals are no longer present in the barn, the structures can deteriorate rapidly. It’s essential to assess the condition of the foundation and the roof, as these are potential areas of concern. Maintaining these barns can enhance the overall appeal of the property, but it does require a significant investment of time and money.
Other buildings on the farm, such as an old sawmill, might also need attention. While these structures can still be salvageable, repairs and regular maintenance are necessary for their longevity. Some townships and counties have specific regulations regarding the demolition and disposal of old buildings. Therefore, it’s crucial to understand these restrictions and potential costs associated with removing old structures from the property.
Repurposing Old Grain Bins
On many farms, you may come across old grain bins that are no longer serving their original purpose. However, these structures can be repurposed in various creative ways. By browsing sites like Pinterest, you can find numerous ideas for transforming grain bins into gazebos, bars, and even houses. Rather than overlooking these seemingly insignificant structures, consider repurposing them to add value and potentially generate additional income.
Earning Money from the Property
One of the major advantages of owning a hobby farm is the potential to earn money from the property itself. Besides cultivating crops, there’s often an opportunity to exploit the timber value on the farm. If the property has substantial timber resources, you can enter it into the Managed Forest Law program in Wisconsin. Participating in this program can lead to reduced tax debt and the potential to sell timber for a considerable profit.
Owning an old farm in Pepin County, Wisconsin, is a unique opportunity to own a piece of history. However, it comes with significant responsibilities and financial investments. Properly maintaining the property, including the buildings and the surrounding land, is crucial. Additionally, exploring ways to earn income from the farm, such as through crop cultivation and timber sales, can provide added benefits. If you’re considering purchasing a hobby farm in this area, be prepared for the tasks at hand and take the necessary steps to ensure a successful and rewarding experience.
To learn more about purchasing a hobby farm or to discuss finding the perfect property, contact Neil Hauger, a land specialist with Whitetail Properties Real Estate. Neil specializes in land transactions and can provide valuable insights and assistance throughout the buying process. Follow Neil on Instagram at #WisconsinLandman and on Facebook at Neil Hauger Land Specialist to stay updated on his latest listings and informative content.
Don’t miss out on the opportunity to own a piece of history with a hobby farm in Pepin County, Wisconsin. Get in touch with Neil Hauger today and start your journey towards owning your dream property.