Tile the wet 40 myself, or pay the premium for ground that already drains
Two farms, same county, eleven miles apart. I've walked both twice and I keep flipping.
Farm A is 155 acres, asking works out to about $7,900 an acre. Roughly 40 of it holds water in a wet spring and the yield maps show it. Operator says he loses a week of planting on that section most years. Tile quotes I've pulled for similar work in the area have run somewhere around $1,000 to $1,400 an acre for a proper pattern system, so call it $40,000 to $56,000 on the wet piece plus outlet work I haven't priced.
Farm B is 140 acres, fully tiled in the mid nineties with a map, asking about $9,300. Consistent yield history across the whole field. Nothing to do but sign a lease.
My whole background is renovation, so I have a natural bias here and I know it. Scope creep is the thing I warn everyone else about, and drainage work is exactly the category where you open a trench and find out the outlet is on a neighbor's ground with no easement.
Case for A: you're buying the improvement at cost instead of paying a buyer's premium for it, the rent goes up after, and reappraised ground with fixed drainage supports value. Case for B: the premium is real but so is the certainty, buyers have gotten selective about proven yield history for a reason, and $1,400 an acre estimates on farm improvements have a way of becoming $2,200.
Which farm?
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