Farmwithjunk said:
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OR... If there's a way to budget TWO tractors, go with something 50-ish hp, matched implements, and a used/older 2wd AG tractor, somewhere in the 80-90 hp range for the bigger chores. Used implements for tractors in that size class are relatively easy to find and priced reasonable relative to the cost of new.
Long and short, buy a NEW 50 hp tractor as your only one now, use it to clear the place, and then to maintain the property, and you'll find it grossly undersized for clearing that sort of acreage, and probably have it well on the way to being worn out before you ever get the place ready for routine maintenance.
I agree with FWJ. Get two tractors. I only have 10 acres of flat pasture land, but I found out that two tractors come in handy.
My first tractor was a 2005 Kubota B7510HST (21 hp engine, 17 hp pto) with an LA302 FEL (4 ft bucket) that I bought new in May05 for $12,600 (10% down, 0% for 36 months). It's handled all of the mowing and toting chores plus rototilling the new lawn areas and the veg garden (used Yanmar 1200 tiller, 4 ft wide, $300).
I want to put about 7 acres into hay so in July06 I bought a used 1964 Massey Ferguson 135 diesel (45 hp engine, 38 hp pto, 33 hp on the drawbar) for $3600 without FEL. I spent about $600 on new gauges, exhaust system, rewiring, paint, new front grill, steering wheel.
You have a factor of 10 larger place to handle than I have, so your tractor needs are going to require larger machines. My neighbor just bought a nice new Kubota L4630 diesel (45 hp engine, 39 hp pto, gear tranny) with a 6-ft wide FEL and several implements (6-ft box blade, 6-ft rotary mower, PHD). I figure he's got $25K invested.
You can find good used 75-100 hp 2WD gear tractors without FEL for under $10K. Examples of 1960s vintage tractors: Case 930, 940; Farmall 706, 1066; JD 4020 (considered by some the best JD ever), 4010 (not to be confused with another more recent, smaller JD 4010). eBay is a good place to check current prices. If you decide to buy used, it helps to talk to someone who knows used tractors and how to bargain for old iron.