Land prices pushed to record highs over the past year, creating concern for some farmers needing to expand their operation. The University of Illinois created a helpful spreadsheet for assessing land buying opportunities, including the economic opportunities from the land as well as its potential impact on the farm’s balance sheet.
This management tool includes a sensitivity analyzer to assess the impact of the property’s purchase on the farm’s economic health if conditions change, projecting the impact up to 30 years into the future.
We’re featuring the spreadsheet as our Farm Futures Spreadsheet of the Month. The 1,045 kilobyte spreadsheet should work with Excel 2000, 2002, 2007, 2010 or Excel XP. To access the spreadsheet - visit Land Price Tool - which is hosted on the university website.
LAND BUYING TOOL: The spreadsheet link highlighted this month offers a way to enhance how you buy land.
Do you have a spreadsheet that’s made a difference on your operation that you’d be willing to share with other readers? Drop us a line at FarmFutures@farmprogress.com with a description of the spreadsheet. We’ll pay $75 if we feature your farmer-written non-commercial program as our Spreadsheet of the Month.