I really can answer this question due to the fact that we had this topic in our family a few days ago. We pondered about this question and we all did agree to each other. My family and me would use the plot of land to establish a small farm to be self sufficient and independent, so that we could rely at least less on the food industry around us in the future.
To make our dream come true, we would buy several solar collectors and other stuff to create alternative energy, several animals like chickens, swines, goats and so on. We would buy several plants we need and a lot of other things which we need to get a bit more self sufficient and independent.
Being responsible for our own food but not on the way we are responsible for our food today. Which means, we like the idea to cultivate everything on our own instead of buying it from the industry which isn´t trustful anymore anyway (At the moment there is a big scandal here in germany but also europe… horsemeat but slaughterhouse waste gets sold to people as beef! But this is just another new scandal.). We would only cultivate what we and the small economy around us needs and not to create too much oversupply. The fun fact is that we have a few people in our family who know about cultivation and management. Everyone else could learn from them apart from the fact that each person brings in other interesting and useful abilities anyway.
I would even go so far to suggest this old life idea to all my friends and their familys and would ask if they would like to participate. No fear… I dont want to create a cult *laugh*. I talk about creating a mostly self sufficient (with exceptions like technology and so) community. To enjoy nature together, to work together, to develop together, to be an example and to make it better then the industry, to go back to some basic concepts of the old food industry and life, to simply be more connected with what we use from the nature, to get more aware again that all we need is from our nature and that we shouldn´t abuse our nature too much. Not to be the escapist, really.
You might think now that we all are eco-activists. But I can negate. I am not. Not anyone in my family is. But I must admit that I like the idea to experience how it would be with an own farm. I really like the idea while it was just something we had in mind just for fun and when we were bored and talked together. So, call it dreaming. :) But the idea sounds interesting to me since I would like to work in and with the nature on traditional way while I know it would be a lot of work. But as said.. we just did dream. :)