The Actual Cost of Buying a Farm

source unknown

As expected, buying a farm costs a lot more than the negotiated price.  Here's a quick update, two weeks in:

Contract: $1,005.00
Copies/Faxes: $6.00
Loan Application: $13.50
Home Inspection: $450.00
Radon Test: $125.00
Water Quality Test: $130.00
Water Quantity Test: $115.00
Septic Inspection: $100.00

Total so far: $1,944.50

I chose to have all of the home inspections done for peace of mind.  It's a sizable upfront expense, but the hope is that if there is anything minor wrong with the house, the contract can be renegotiated to help cover some of that expense, and if there is anything major I will have saved myself from heartache later on.  I hate having to spend the money, but it will be good to know the house is safe (fingers crossed).  Just another hurdle.

The stress of purchasing a farm on May 1st is really starting to settle in.  I'm confident that I can piece together a plan to make up for farming without a farm this spring, but I still feel terribly overwhelmed.  And with the lingering thought that the contract or the mortgage could fall through before then, I still don't feel 100% committed.

I wish I were more of a risk taker, because I think I would be having a lot more fun.  Spending money makes me queasy.

Speaking of spending lots of money, I'm starting a farm with a pair of boots.  That's it.  I don't even own a shovel (I use K's snow shovel to clean out my chicken coop)!  In the next couple of months I need to purchase a lot of the basics  - does anyone have a great source that they use?  What about used equipment (other than craigslist, which I don't seem to have much luck with)?

Thanks for your help!