When it comes to farming, many are called but only few are chosen. One of the reasons is the cost of running it. You may be planning to start a farming business, but you are not sure how much money you need to get started.
How expensive can it get, especially in New South Wales? K-line.net.au provides some of the most reliable answers.
The cost of the farmland greatly depends on many factors, such as the size, location and availability of water, the quality of soil, and vegetation. The purpose of the farm also matters. Based on an Australian real estate listing, a 29-hectare homestead in New South Wales meant for lifestyle farming can already be worth $1 million. If you want to pay less, buy a hobby farm that has no more than an acre in size, which is enough to grow fruit-bearing trees.
2. Water Costs
One of the needs of a farm is water, which helps nourish the animals and plants, as well as keep the farm clean. In New South Wales, irrigators consider the water costs to be “excessive”. You can dig a well, but you may have to apply for a licence from the Department of Primary Industries, which ensures water is available and shared fairly to different communities.
3. Hay Bales
If you are planning to raise cattle, then you need a farm with sufficient amount of grass for grazing. Nevertheless, if it is enough to feed all your cattle or the weather is not ideal for grazing, farmers must be ready with hay bales. The cost of the bale can vary, although it is common to pay $200 for 8x4x3 inches.
To reduce costs, you can rake hay yourself. But finding the right one is important because uneven bales may be quick to spoil. If you want to save time during raking, you can buy a V-rake.
Running a farm in New South Wales can be costly and challenging, but it is fulfilling and rewarding. Most of all, you will find a way to be money savvy if it is your passion.