From Cato the Elder’s De Agricultura:

When you are thinking of acquiring a farm, keep in mind these points: that you be not over-eager in buying nor spare your pains in examining, and that you consider it not sufficient to go over it once. However often you go, a good piece of land will please you more at each visit. Notice how the neighbours keep up their places; if the district is good, they should be well kept. Go in and keep your eyes open, so that you may be able to find your way out.

It should have a good climate, not subject to storms; the soil should be good, and naturally strong. If possible, it should lie at the foot of a mountain and face south; the situation should be healthful, there should be a good supply of labourers, it should be well watered, and near it there should be a flourishing town, or the sea, or a navigable stream, or a good and much travelled road. It should lie among those farms which do not often change owners; where those who have sold farms are sorry to have done so. It should be well furnished with buildings. Do not be hasty in despising the methods of management adopted by others.

It will be better to purchase from an owner who is a good farmer and a good builder. When you reach the steading, observe whether there are numerous oil presses and wine vats; if there are not, you may infer that the amount of the yield is in proportion. The farm should be one of no great equipment, but should be well situated. See that it be equipped as economically as possible, and that the land be not extravagant. Remember that a farm is like a man — however great the income, if there is extravagance but little is left.

If you ask me what is the best kind of farm, I should say: a hundred iugera of land, comprising all sorts of soils, and in a good situation; a vineyard comes first if it produces bountifully wine of a good quality; second, a watered garden; third, an osier-bed; fourth, an oliveyard; fifth, a meadow; sixth, grain land; seventh, a wood lot; eighth, an arbustum; ninth, a mast grove.