Most people overestimate the value of an existing building and underestimate the cost of renovating it for swine housing, says Robert Graves, agricultural engineer, Pennsylvania State University.
Before you renovate a building, ask yourself these three questions to determine if it’s a good idea or not:
Why is the building available for renovation? Oftentimes, the building is available because it was replaced with a new and improved facility. Be sure that the building’s past problems don’t become future ones.
Are there other facility needs on the farm? The building may be better suited for some other use than raising animals.
If you didn’t own it, how much would you pay someone else for the building? Working through this question forces you to put a value on the building, the business impact and debt load.