I've been posing this question to myself as of late.
I've spent the last month running to & fro, visiting farms & large farmers markets and wondering... can a small family farm make enough money to survive? What's my opinion of surviving?? Well, how about this one - can it make enough to pay the mortgage & property taxes???
We just recently put another offer on the foreclosed farm property that we tried to buy last winter (it's back on the market). We're scared to death! I've been scanning the papers & internet for part-time jobs, we've been trying to brainstorm - it's just scary. We'd be stuck with 2 mortgages for awhile. If ours doesn't sell we could always rent it for what our mortgage costs just to get by, but still - what if the roof goes bad or something else happens that needs major repair? We wouldn't be making enough in rental income to cover the repair. We'd really rather sell it, but the market being what it is...
Yikes. And then this place in the country needs some work, and the house is huge so we know to expect huge propane costs (we'll buy at least one wood stove, but that will cost money, too).
There are a couple of trailers on the property that could be fixed up & rented out, but again.... $$$.
So... I'm wondering, if we ever do end up on a farm of our own - can I make enough money to cover just the mortgage & taxes?
After visiting some larger farmers markets and organic farms lately (had a great time at a farmer field day at Kinnikinick Farm), I'm just not sure.
I know you're out there - others who have been there, done this, doing this. What do you think?
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