A Success Story – Hobby Farms

Are you intrigued by the idea of owning a small farm?

Embracing the joys of rural living without the pressure of it being a primary income source? If so, you might be a hobby farmer. 

In recent years, there has been a notable surge in homeowners seeking to escape the hustle and bustle of city life, opting instead to create their own haven in the great outdoors. This trend has propelled hobby farms into the spotlight as desirable living spaces, catering to those who wish to balance their urban lifestyles with a connection to the land.

Consider this story of two dedicated teachers driven by a shared passion for both farming and classic cars. While content with their teaching careers, they harboured a dream of establishing a hobby farm complete with a spacious 40 x 100-foot workshop to house their cherished car collection. Conventional lenders were willing to extend only 80% of the purchase price based solely on the home and ten acres, amounting to $620,000.00 – this left them short $60,000. 

Farm Lending took a more comprehensive approach, offering funding at 80% of the full value, encompassing the home, all of the acreage, and the outbuilding which would store their classic cars, resulting in a more substantial $680,000.00. 

With Farm Lending’s support, the two teachers were able to secure their dream hobby farm at the ideal price and location within their budget.

In many cases, conventional lenders view hobby farms as a higher risk, adhering to stringent lending guidelines. At Farm Lending, we recognize the intrinsic value of the land and embrace the opportunity to assist our clients in obtaining loans that may fall outside the parameters of traditional lenders. We view hobby farms not as risks, but as opportunities to empower our clients to live their best lives. 

With a commitment to understanding the unique needs of hobby farmers and rural properties we stand ready to help you turn your rural dreams into a fulfilling reality.

Have questions or seeking more details? Our dedicated team is ready to assist you.