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[–] Tekedo ago 

All the farms around me are being turned into massive HOA Subdivisions. The farmers are at least getting money for the land, but it's not nearly what it's worth. There's a 50 acre plot connected to a major road that's only going for a few million. A developer is going to swoop in, build 90 homes and sell them for 500k-700k each, plus deed restrictive HOA.

If the farmer found an investor to go into business with, they could develop the plat map, build the roads, and then sell/land lease individual plots or streets to builders for ready to build homes. You still hold control of the land, at least initially, and you don't get fucked with a a big check you're splitting with Uncle Sam, and no land assets. Hell, the farmer can set up their own HOA with deed restrictions on the plats, and retire on the funds. If someone violates the restrictions, there are clauses where the deed reverts back to the original deed holder.

Not saying this is what farmers want to do, or should do. Land is the most valuable, finite resource in the world and holding onto it in any form is so important.

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[–] Wharleas ago 

Like it or not developing is its own specialized skillset. Doing what you say would require a good amount of expertise that, if the farmer had it, he wouldn't be a farmer - he would be a developer.

Financially, a farmer is probably best off never selling because the land will always appreciate so long as the population grows. But in practice time has value and sometimes people need/want money quick. But if I had land I would never give it up if I could help it.