Buying a piece of farmland in Indiana can be a big move, whether you’re looking to grow your own crops, expand an operation, or invest in a piece of rural ground. You’re not just buying land, you’re making a plan for how that land will work for you, now and maybe for generations to come. But getting there means starting with some solid first steps, especially if it’s your first time buying.

The farmland market isn’t like buying a regular home. It has its own set of things to watch for, and jumping in without doing the basics can lead to missed details that cost time and money. Having a clear idea of what you want, what’s possible, and how the process works can make a big difference. Here’s how to get started on the right foot.

Determine Your Goals

Before you even look at a single listing, take a good look at your goals. Why are you buying the land? The answer to that question helps point you in the direction of the type of land, location, and setup that best fits your future plans.

Some common reasons people buy farmland in Indiana include:

• Starting a small or full-scale farm operation

• Using it as a long-term investment

• Leasing it out for extra income

• Creating a private recreational space for hunting or outdoor use

• Planning a mix of uses like farming and building a home

Each of these leads to different kinds of properties. For example, someone planning to grow row crops long-term may look for larger, flat fields with high soil quality. In contrast, if you’re looking to lease land while holding it for future resale, your needs may focus more on things like tenant demand and ease of access.

It also helps to think about what’s realistic for your timeline. Do you want this land to start producing results right away, or are you willing to put in some work first, like clearing, tiling, or fixing up fencing? Long-term vision matters because farmland isn’t something you flip quickly. Make sure your goals match how much time, energy, and money you’re ready to commit.

Research and Budget

Once your goals are clear, it’s time to dig into the market. Indiana has a range of farmland types, from flat corn-growing regions in the north to more varied plots near wooded edges in the south. Understanding what’s out there helps you line up your needs with what’s available.

Start by checking out the types of farmland in the regions you’re interested in. Some land may already be in use, while others might be bare or in conservation programs. See how land in each area is priced and how much acreage typically sells in your budget range.

Here's what to consider as you build a realistic budget:

• Down payment or full purchase price

• Appraisals and legal paperwork

• Property taxes

• Improvements (tiling, fencing, drainage)

• Equipment or management services if you’ll be hands-on

Keep in mind that farmland buying often includes extra steps compared to other property types. If financing is involved, a lender will usually want detailed info on the land’s use, past productivity, or income if leased. Reserves for repairs or improvements are smart to have, even if you don’t use them right away, long gravel drives, tiling systems, irrigation systems, drainage pumps, and sheds can all need attention.

A common example: someone starts out looking for a smaller parcel just to lease out, then discovers a nearby 40-acre plot with strong access and drainage that better fits their budget and plan. They shift gears but stick with the same financial limit by doing more thorough research.

So, before you fall in love with a listing, know what you’re working with, both for market ground and your own wallet. A little groundwork now saves you from crunching numbers too late in the game.

Inspect the Land

Once you find a few listings that fit your goals and budget, schedule time to walk the land. Pictures and descriptions only go so far. You need to see for yourself what you’re working with. Being on the property gives you a much clearer idea of how usable the land is and what kind of shape it’s in.

Start by walking the whole area if possible. Bring a map or printout if available so you can match what’s on paper with what’s in front of you. Look for signs of erosion, standing water, or overgrowth that might point to drainage issues. If there are buildings or fences, check their condition. Even a small shed can add value, or turn into a surprise repair project.

Soil quality is another big factor. Indiana has a wide range of soil types, and it pays to know what kind of crops the land can support. Ask for a soil map or previous yield data if it’s available. You can even get a basic soil test for a clearer picture of fertility, pH balance, and drainage. Don’t overlook how the land’s been treated in the past, it matters for future results.

Here are a few key things to look for when inspecting Indiana farmland:

• Road and field access for equipment

• Slope and elevation changes

• Evidence of past use (row cropping, livestock, CRP programs)

• Reliable water sources (ditches, creeks, wells)

• Nearby neighbors or potential zoning considerations

A property might sound perfect until you see that it’s hard to access in wet weather or that property boundaries are unclear. Seeing it with your own eyes helps you make a better decision while you still have time to keep searching if needed.

Legal and Financial Preparation

Buying farmland isn’t just about writing a check. Legal steps and money prep are a big part of the process too. So once you’ve found a property that fits, get a handle on the financial and legal details before moving forward.

Start with financing. If you’re not paying cash, talk to a lender early. Farmland loans can come with added requirements, and it’s better to walk into a purchase with pre-approval lined up. The lender may ask for a land use plan, a lease agreement if there’s a tenant, or records showing income potential from crops or rent.

At the same time, look at the zoning and tax info for the property. Some farmland in Indiana might fall under different use zones depending on county regulations. That could impact what you can and can’t do with the land, like building a home, starting a livestock operation, or leasing it for non-agricultural purposes.

Don’t forget the paperwork. Here’s a basic list of what you might need to review or request:

• Title search and deed history

• Survey maps and boundary info

• Conservation easements or restricted areas

• Lease agreements with current tenants

• Local property tax records

Having someone to check the contracts, understand local land rules, and guide you on what happens at closing helps simplify everything.

Reaching Out for Expert Help

You don’t need to figure it all out alone. Buying farmland involves a lot of moving parts, and small stuff can snowball fast without the right guidance. Professionals like farm-focused real estate agents, ag lenders, and attorneys bring experience that keeps you informed and protected through the deal.

An agent who knows farmland in Indiana can help you spot good opportunities, explain contract terms, and keep the process moving. They’ll also know how to read a soil report, understand land value, and raise red flags when something isn’t quite right. Leaning on their know-how can give you peace of mind as you make one of your bigger buys.

If you're financing the purchase, a lender familiar with ag properties will know what’s normal and what’s not and walk you through options that fit your goals. Even tax experts with farmland experience can be a smart add to help you plan for ownership expenses.

The right people don’t just streamline things, they help protect your investment from day one.

Your Journey to Owning Farmland

Taking the first steps to buy farmland in Indiana doesn’t have to feel overwhelming. When you start with clear goals, solid research, and a strong budget, you set the stage for a smooth experience. Inspections, legal work, and financing add more layers, but each step you take builds confidence and helps avoid problems down the road.

Farmland is more than dirt and crops. It’s a long-term play, and good prep work pays off. Whether you’re looking to build something new or hold onto it as a future source of income, getting it right from the start gives you better options as you go. With some planning and the right support, owning farmland can be a solid move with lasting rewards.

Buying your first plot of land takes careful planning and local insight. If you're ready to explore opportunities and want expert support as you buy farmland in Indiana, Nolan Sampson is here to help you make a smart, informed decision that fits your goals.