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Keep Your Farm in the Family

Posted by Swanbuild on 11, June, 2019

As a farmer, your farm is more than just a business, and your land is more than just a piece of ground. You've worked hard to build a successful farm business, and you want to keep your farm in the family. But farmers often face tough choices when it comes to passing their business on to the next generation.

Arial view of farming land in Wandin East 
Selling your farm might bring in a bigger immediate payoff than passing it down, but handing the farm over to your children can give you a more satisfying retirement, where you can still enjoy the fruits of your years of labour.

There are a few ways to plan for keeping your farm in your family, and it's definitely worth keeping this long-term goal in mind as you build your business.

KEEP THE LAND PRODUCTIVE

Sustainable farming is a good practice for many reasons -- environmental, health, and marketing -- but a key benefit is that your land will continue to be productive when you pass your farm down to your children. If you properly care for your farm's soil with practices like rotational grazing and increasing biodiversity, your farmland will continue to be a valuable resource in the future.

BUILD YOUR BRAND

Your kids might want to do things differently than you, but if you've put the work into building your farm's brand and maintaining a strong customer base, they'll have a solid foundation when they get started.

CONSIDER MODULAR HOMES

As you approach retirement, you may want to add additional housing to your farm, whether for yourself or your kids and their families. Choosing a modular home rather than building on-site can save you money and time and make your new building more environmentally sustainable.

 

With careful planning, handing your farm down to your children can benefit everyone involved. A combination of environmental and financial sustainability will give you and your family the confidence that your farm will continue to be in good hands well into the future. Let Swanbuild Homes help you build your sustainable farm.

Topics: Lifestyle, Tips

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