As the saying goes, Virginia is for lovers. This is especially true if it’s farm land you’re after.
Agriculture is the top industry in Virginia, providing $70 billion to the state’s economy each year. If starting a farm sounds appealing to you, then searching for farm land for sale in Loudoun County VA is a great place to start your search.
Due to large acreage availability and proximity to the Washington DC metropolitan area, Loudoun County is attractive to many would-be farmers. There are also tax exemptions available to agricultural land owners in Loudoun County.
The rush for land
As the nation responds to coronavirus, many homeowners are reconsidering life in cities and densely populated suburbs. When I talk to my real estate colleagues who do business in rural parts of Loudoun County and Fauquier County, we have all noticed an uptick in the number of buyers searching for rural properties and land for sale in Northern Virginia.
Demand for land in Loudoun County appears to be on the rise. People searching for farm land are not necessarily full time farmers. In fact, in my experience, the majority are city-dwellers searching for larger acreage where they can eventually build a home, raise some animals, and relocate. The tax breaks associated with agricultural land ownership are an added benefit.
Location, location, location
It’s easy to understand why Loudoun County, and western Loudoun County in particular, is a popular destination for people shopping for farm land for sale in Northern Virginia. With its wineries and rolling hills, Loudoun County offers some of the most beautiful countryside within an hour of Washington, DC.
Loudoun County is also the gateway to the Shenandoah Valley as you head west from the city. It’s a short trip to Hogback Mountain in the Shenandoah National Park, and the Blue Ridge Mountains are a popular destination for anyone who enjoys hiking, hunting, and family outings.
Why buy farm land for sale in Loudoun County VA?
Historically speaking, farm land has been an excellent investment. Over time, it has yielded returns in excess of 10 percent, and it is a stable investment with relatively little volatility.
Since the early 1900s, Virginia has been considered an agricultural goldmine. If you’re thinking about purchasing farm land in Loudoun County VA, there are some great benefits.
Capital security with little risk
Farm land is a long-term, tangible asset that historically appreciates in value and does not physically deteriorate like buildings. While other real estate properties fluctuate in price and may never offer any growth opportunities, farm land is the exact opposite. It’s less likely to devalue because it can provide substantial capital in good and bad times.
While you can raise animals or harvest crops for a profit, there are other ways to make and save money when you buy farm land for sale in Loudoun County. By placing your land in the Loudoun County Land Use Assessment Program, for example, you can defer virtually all of your annual property taxes. You can also lease your land to a farmer or, if it has a dwelling on it, operate it as a short term vacation rental.
Even if you never do anything with the land you purchase, land is a safe place to park your money. Strategically located farm land rarely brings losses, and almost always appreciates in value. As an investor, your farm land can diversify your portfolio and hedge against potential losses from other investments.
What can you do with farm land in Loudoun County?
Whether you plan to keep the land vacant or cultivate crops, most farm land appreciates in the long run. Therefore, you don’t have to work hard to take advantage of the basic benefits of farm land ownership.
Re-sell in a few years
If you time your purchase correctly, you may simply want to buy farm land for sale in Loudoun County VA with the goal of selling it for a profit a few years down the road. As of this writing, interest rates are incredibly low, making land ownership that much more affordable.
Of course, buying land for the sole purpose of riding the wave of appreciation is a purely speculative investment strategy, so you should always prepare for the worst case scenario of a market downturn.
Build or buy the farm of your dreams
Virginia has 44,800 farms spread across 8 million acres of land dedicated to different crops and livestock. The state is a leading producer of tomatoes, grapes, apples, and timber.
Whether you want to raise cattle, plant row crops, or operate a hobby farm, you can create the farm of your dreams in Loudoun County or elsewhere in Northern Virginia. Hopefully it turns out to be a profitable venture, but if nothing else you can benefit simply from living off the land.
Build a new construction home
Generally speaking, there are no restrictions against building a single home on farm land for sale in Loudoun County VA.
New construction on farm land makes sense for a variety of reasons, especially if you want to customize your home and settle down somewhere that is insulated from the hustle and bustle of suburban and city life. Indeed, it’s hard to go wrong with modern farm house architectural styling coupled with beautiful views of the Loudoun County countryside.
Fun and recreation
The Virginia wilderness offers all kinds of activities, whether you like hunting, fishing, hiking, mountain biking, or four-wheeling. Whether you want to trek around Hogback Mountain or head out to the Shenandoah National Forest, adventurers and hunters love this area for its wildlife and scenery. It’s hard to go wrong when you buy farm land for sale in Northern Virginia!
Live off the land
These days, city life isn’t as appealing as it once was. Among other things, noise, traffic, and public health concerns are driving people to search for rural properties and farm land for sale in Loudoun County VA.
While it’s not for everyone, it’s entirely possible to live off the land in this area by growing your own crops, planting a vegetable garden, and raising livestock. Of course, even if you don’t plan to become self-sufficient, owning farm land offers a nice escape from city life.
Agricultural tax exemptions
As mentioned before, land owners in Loudoun County can benefit from agricultural tax exemptions. As long as you can show that a portion of your land is used for farming or agricultural purposes, you should be eligible to defer of a portion of your real estate taxes through the Loudoun County Land Use Assessment Program.
It is also worth nothing that agricultural tax exemptions are available to land owners throughout Virginia. Because agriculture is the top industry in the state, counties throughout Virginia offer some type of agricultural land use tax exemptions.
Are you ready to begin your search for farm land for sale in Loudoun County VA?
Whatever your reasons for wanting to buy land for sale in Northern Virginia, I’d love to help you find the perfect property. If you’re ready to get started, you can set up a customized MLS property search or contact me directly at 202-750-4050 or firstname.lastname@example.org.