You're thinking it might be a good idea to look into buying a ranch in Oklahoma. This idea has been on your mind for some time now, and for whatever reason now you're getting serious. Sound familiar?

If so, you've made a good decision to look for property in northeastern Oklahoma. Oklahoma is an ideal location to make an investment in economic or recreational ranching for a variety of reasons. As the country works to rebound from difficult economic times, the cost of living in Oklahoma remains very low, and it is possible to find some very interesting Oklahoma ranches for sale at very reasonable prices.

Whether you are interested in buying strictly raw land, or if your objective is to find land with an existing home and related structures like barns, caretaker quarters, etc., either should be easy to locate with the help of a good real estate agent in all parts of Oklahoma.

Northeast Oklahoma in particular is an ideal destination for many reasons. As I mentioned some of the best are affordable real estate prices low cost of living. Beyond the great economic benefits, Oklahoma is blessed with the most beautiful scenery in Oklahoma, and a culture rooted in both farming and ranching that make it a smart place to pursue this dream. It is simply an ideal place in which to shop for just the right farm or ranch to meet your needs.

Oklahoma is still very much a rural lifestyle state. Among the approximately 3.6 million residents, over 1.3 million are considered "rural". Of the nearly 44 million acres comprising Oklahoma, nearly 80% of that land is considered farmland according to the 2007 Census of Agriculture. While farms and ranches less than 99 acres make up 42% of the total farm acreage, the average farm size is 405 acres. Clearly, Oklahoma is well suited to the practice of farming or ranching.

There are certain things that you should consider when buying property for ranching or farming in Oklahoma. I've outlined a few of the more important items below:

1. Cost per acre. A key purchase criteria is the price per acre of land. As a result of the challenging economy and its effect on the real estate market, real estate prices have been stable or declining throughout the country. This presents the perfect timing for a savvy investor to acquire land at affordable, and possibly discounted, prices.

It's is essential to seek out and work with a real estate agent familiar with both farm and ranch prices and the market in the area where you are you looking. Determining the correct fair market value of a ranch or farm can be difficult because there are not always good 'comparable' properties to use a gauge. That's why a knowledgeable professional is essential.

2. Land type. You must also consider finding a property with land that meets your needs. If you plan on ranching, then you need a tract of land suitable for ranching. If your interest is to do some recreational ranching the search is easier, but if you are interested in possibly raising wildlife for the purposes of hunting, then you should consider property that is "wild" with more natural vegetation suitable to the type of wildlife you plan to support.

3. Water. Ranches and farms depend heavily on water. Finding property with a substantial creek or river running either through, or adjacent to it, is ideal. Water is necessary to support livestock as well as wildlife, for use in raising crops, etc. so be sure you investigate (a) sources of water, and (b) quality of the supply, including common use water sources that can be used by residents in a particular area, and (c) the quantities available.

4. Soil quality. You should also take care to investigate the soil quality of the farm or ranch you are considering. Ranches with abundant natural growing grass will reduce the overall cost of farming, and fertile soil will yield superior crop harvest.

5. Access. Ease of ingress and egress to the land are also essential. Is the land easy to get to by road or do you have to drive through rough terrain to get to the main farmhouse or boundary? If the property is not easily accessible, it will make living there more difficult, and will be less desirable if or when you decide to sell. Creating access may mean that you have to pay to have an access road built for you, which should be included in the cost of the purchase.

6. Cost of operation. If you plan to use the property for serious ranching/farming, or even if you simply aspire to become a gentleman rancher, you should become very familiar with the cost of operating and maintaining the ranch. If it's a topic where you don't have much experience, consulting a professional in this area is not only smart, it's essential.

Oklahoma is a great place to live, and possibly an even better place to own a ranch of farm. Choose wisely, and you will be able to enjoy the benefits of your decision for years to come.

Lee Selby is a real estate agent in Tulsa, Oklahoma, specializing in ranch and farm land. Contact Lee at 918-698-4635 when you are ready to begin a serious search for a great ranch. In addition, go to the website http://oklahomaranchforsale.com to view an ideal Oklahoma ranch for sale as one example of a great Oklahoma ranch at a great price.