BUYING VERSUS RENTING FARMLANDS WHICH IS BETTER?


Good morning dear nairalanders. I have been thinking lately about buying versus renting a farm land which is better? Am sure they both have their pros and cons. Can we talk about it?

I prefer buying for livestock..because I won't be restricted and leasing for crop farming..because u don't need the land for a very long period of time and u can acquire a large land mass with leasing than buying.

Actually as for crop farming, it depends on the kind of project you are embarking on. If you want to irrigate and you aren't close to a water body, you'd definitely not want to drill a borehole on a leased land. However, like the poster above me said, if you just want a short-term gig then it's better to lease.

[quote author=cleavon post=44307118]I prefer buying for livestock..because

Thanks for your contribution cleavon am actually thinking of buying but just worried about some future land dispute considering am not Yoruba and plan buying from either oyo or osun state

caesaraba:
Actually as for crop farming, it depends on the kind of project you are embarking on. If you want to irrigate and you aren't close to a water body, you'd definitely not want to drill a borehole on a leased land. However, like the poster above me said, if you just want a short-term gig then it's better to lease.

Thanks caesaraba. Crop farming is what I have in mind but with lease, I know I have certain restrictions and like you said, I can't dig a bore hole on a leased farm should invade neither can I build a barn.

Am seriously debating it.