Real Estate Outlook : 2020-07-02

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FRONT PAGE

Outlook Real Estate Thursday, July 2, 2020 2 Life of leisure living off the land E A hobby farm can offer the ultimate lifestyle – but you’d better do your homework first, writes ggs whenever you need them, fresh strawberri­es in the summer, the ultimate farm-to-table experience. Hobby farming combines the best of low-stress lifestyle living and some of the rewards of farming or homesteadi­ng. If you’re considerin­g taking up a hobby farm in New Zealand, here are some tips for getting the groundwork done. you confidence about your new project. Lili Stellingwe­rf. Plan your stock and budget: ■ Think about what you’ll use your hobby farm for. Are you interested primarily in growing crops orwould you prefer to focus more on livestock? Whichever you choose, it’s a good idea to start small. While you’re not aiming to make a profit, it’s best to budget for a smaller number of crops and test the waters while you’re still learning. This way, you can take your time and pick up the hobby at a pace that’s perfect for your lifestyle. When you’re planning your budget, it’s important to think about other expenses your hobby farm may bring. Beyond farming supplies, land upkeep, fencing and required structures, you’ll also need to think about your insurance obligation­s. Farms are home to all sorts of unique contents from animals to crops and hay, and with those may come new risks, so make sure you’ve planned for the right expenses. What is a hobby farm? A hobby farm is a small farming operation taken up for leisure, rather than to make commercial gains. The main point of difference between a hobby farm and other agricultur­al endeavours is the purpose: Small farms, often run by a single person or a group of friends, primarily for leisure. Hobby farms: ■ Full sized, commercial operations which grow produce, rear animals or nurture dairy cattle for the purpose of making a profit. Farms: ■ Operated by a family living on site, these smaller farms exist to provide total self-sufficienc­y to the owners and typically produce meat, fruit and vegetables, eggs and dairy, all in small quantities. Homestead: ■ Choose a location for your hobby farm: ■ Considerwh­ere you’d like to establish your hobby farm. If you’re currently living on a lifestyle property in New Zealand, you may have enough space to start up on your existing section. Otherwise, youmight like to purchase a rural section nearby to get started. Make sure to do your due diligencew­hen looking for new land, as covenantsm­ay exist whichmay stop you from keeping animals or using machinery on site. There are plenty of perks to life in the country. Why start a hobby farm in New Zealand? While you might make a small profit from selling the produce from your hobby farm, it probably won’t be enough to make a living. Why then, would you want to take up farming? Hobby farmers can be anyone – some are retirees looking for a project to focus their time and money on, that they can derive meaning from. Others are young profession­als leading careers during the week and seeking the tranquilli­ty and connection to nature that farming can bring in the weekends. Hobby farming can bring different benefits, from a positive routine, fulfilling pastime and additional minor income – they’re ultimately Expect to take some time and flexibilit­y: ■ You’ll get the most from your hobby farm when you take the attitude of experiment­ation. If this is a new adventure for you, you’re not always going to get it right the first time. Allow yourself some time to adjust to this new hobby and figure out what you like. Could hobby farming be the lifestyle for you? Think about what you’ll use your hobby farm for – animals or crops? Who wouldn’t want a steady supply of fresh strawberri­es in summer? UNSPLASH STUFF UNSPLASH whatever you make of them. alone. With the great fulfilment of a hobby farm comes hard work. Before you decide to start a hobby farm, reach out to the local community or online forums and try to meet with other farmers. Understand­ing other people’s experience­s can help to prepare you for what’s to come and give This article originally appeared on Realestate.co.nz and has been republishe­d with permission. How to get started with your hobby farm Don’t go in Do your research: ■ PRINTED AND DISTRIBUTE­D BY PRESSREADE­R PressReade­r.com +1 604 278 4604 ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY COPYRIGHT AND PROTECTED BY APPLICABLE LAW

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