Whether you found yourself inspired after a trip to a vineyard or simply love wine, many people dream of owning a piece of wine country. But buying one isn’t as simple as buying a home, right? Well, it is, but it isn’t. While many of the initial principles are similar, the scale of the purchase can be hard to fathom. If you are interested in purchasing an existing vineyard or land that can be used for growing and processing grapes for wine, here are some tips to get you started.
Choose Your Region
Before you begin the buying process, you need to know what region in which you would like the vineyard located. Your approach will be different if you plan on purchasing property in a foreign country than your home nation. Additionally, it will give you a starting point for gauging current prices.
The number of bottles you intend to produce in a year will dictate the amount of land required for your operation. Land sold for use as a vineyard may be sold by the hectare or acre depending on the country in which the purchase is made. Often, the larger the plot, the higher the price. However, it is important to note how much of the land is usable (or currently in use) for growing grapes. Just because a plot is listed as 5 acres, that doesn’t mean all 5 acres can be used for production.
Understand Your Variety
Different grape varieties flourish in different areas or climates. If you are interested in creating a specific kind of wine, such as Merlot or Chardonnay, you must choose a location where those grapes can be grown without having to fight the elements or natural climate. Additionally, some wines only come from specific regions in the world. For example, Champagne is from the Champagne region of France. All other wines that possess the characteristic bubbles are considered sparkling wines and are not true Champagnes.
As with any other real estate purchase, if you don’t intend to buy the land with cash, you will need to secure financing. Mortgage brokers can help you explore your options and locate the financing you require. It is important to note that the type of mortgage available can vary depending on precisely what is located on the land. For example, a vineyard that comes with a home on the property is seen differently than one without a home. Additionally, your intent to use the funds to build a home changes your eligibility for certain forms of financing. Whether you intend to make that home a primary residence also comes into play.
Work with a Real Estate Professional
Regardless of whether you currently live in the area in which you intend to buy property, you will likely want assistance from a real estate professional. Some large chain real estate companies have specialists available who focus on vineyards and similar properties. There are also offices that center their operations on the purchase and sale of vineyard properties almost exclusively.
Ideally, you will want to choose a real estate professional that focuses on your target location. They will be more familiar with the local market and may be privy to information that outside real estate professionals simply do not access.
Once you find a property, they will also be able to walk you through the bid and purchase process. This gives you access to a professional for all required paperwork from beginning to end. Once everything has been completed, and the closing process is wrapped up, you can then begin enjoying your new vineyard for everything it has to offer.