After working and saving hard the sharemilking couple scoured listings in their search for an entry-level property.
Many first-time farm buyers are finding it challenging in a high payout climate competing against cashed-up buyers or multiple-farm owners who can leverage their asset base.
Mr Barnes said many of the farms were just out of their reach.
"Dairy farms have been selling for over $65,000/ha in Canterbury. There is a lot of money around at the moment and people with deep pockets."
Mrs Barnes said she was glad the search for their first farm was over as it was an emotional roller-coaster.
"It feels good to have a piece of dirt and move on to the next chapter. I didn’t have a pre-conceived idea what it would be like, but all the non-successful offers were disheartening and it was a rough road."
Knockbacks came at a cost as completing due diligence on properties was expensive and it came as a pleasant shock when their final offer was accepted, she said.
This diligence period went beyond water and building checks with environmental and legal professionals brought in when they narrowed their search for land which could be converted to a dairy farm.
Many of the listings were tidy, large-scale operations requiring an equity partner and they wanted to self-finance their own property.
The couple put in two offers before buying a 200ha grazing block in Sheffield with an existing consent to convert to dairy.
They plan to milk 600 to 650 cows, supplying Fonterra in their first conversion.
The Barnes are winding down from 50:50 sharemilking 1150 cows at Eyrewell Forest and have sold their herd back to the owners and will move to the new farm in June after getting possession this month.
While two high payouts increased buyer competition, it also was good timing for them as they sold their cows on a high market.
They will run the Sheffield farm as a dairy support unit during the conversion.
Going with them will be empty young stock they will get back in calf, as well as another 200 cows they have bought and 250 further young stock.
Another house and a rotary cow shed of 50 to 60 bales will need to be built with the shed due to be running next year.
Over three to five years pastures will be regrassed.
Mr Barnes said their advice for young farmers looking to buy their first farm was to persevere.
"A positive attitude and not giving up because there’s always a way. We’ve had to think outside of the box and networking is really important. I think winning that award has been really important for us."
They were among three recipients of last year’s inaugural Fonterra & ASB First Farm Award at the New Zealand Dairy Industry Awards.
This was set up to help top young farmers in the industry transition into farm ownership with the three winners receiving up to $1million in business lending fixed at 1% a year for three years, along with a Fonterra launch package.
Mr Barnes said the funding helped them get a farm sale across the line and ASB’s Aran Young and Fonterra’s Adam Winter gave good advice on options.
Instead of continuing to compete at the top end of the dairy market, they took the strategic approach of buying a grazing block.
Targeting a property with development potential proved the right move as the farm backing on to Kauri River has good soils, with 141ha irrigated.
By working up the dairy ladder from the bottom and savvy investing, the Barnes put themselves in a farm-buying position.
Equity was built up and debt paid down as fast as they could by accumulating cow numbers, trading stock and rearing surplus calves and selling empty cows.
Outside income came from investing in residential rental housing.
The couple have been in business together for 10 years after meeting on a Culverden farm.
After working on the family farm he headed south in 2012, progressing up the ranks from an initial farm assistant role.
Always wanting to own a dairy farm before his 40th birthday, this was achieved only months after the target.
She worked on the same farm as him in 2013 then became second-in charge on another farm, after a background as a qualified veterinary nurse, working in the horse racing industry in Singapore and the United Kingdom.
A challenging contract milking role was taken on at a 1500-cow herd farm with two sheds and 10 staff in Duntroon in 2016 and returning to Culverden, they took on another contract milking role for two years before heading to Eyrewell Forest.
This season their large herd on 351 effective hectares is expected to produce 590,000kg of milksolids at about 513kg per cow.
Much of their drive to own a farm is to set up themselves and their three young children — who by coincidence all have birthdays on November 16.
They have also become unexpected sheep farmers as there is a wool shed and oldest daughter, Heidi, has insisted on them buying 30 sheep.
