Things to consider when buying grazing land
Before applying for finance considering borrowing to buy grazing land in Queensland averaging over $8,000 a hectare there are excellent opportunities for those wishing to retire from farming, whether they head for town or cut off a block with the homestead on it to retire to.
For buyers it is most important to do some careful calculations of what they can run or grow on the country and how much net profit it is likely to make. That is because the net profit of a farm is the prime source of money for repaying any loans needed to buy the place and of money to spend on living and enjoying life.
Appling for Finance
If you need finance, it will pay to lodge an application (free- don’t pay for the privilege) with 5 or 6 banks. Put your loan business into virtual saleyards via a service like LoanApps
and let the banks bid for it. That way you should get a more competitive rate than you would by just going to your own bank. Don’t ask your own bank for a loan until you know what other banks can offer you. Then ask your own bank if it can match or best them.