Of more importance to the Clinton couple was the chance to work together, to make their 130ha farm more viable, to assist with their retirement and farm succession.
"It's a way of not having to sell the land but retain it in the family," said Mr Balchin.
All up, including Fonterra shares, the Balchins will spend about $2 million converting the property, with the first 230 cows expected to be milked next month.
Eventually they expect to milk 350 cows.
While confident in the performance of Fonterra and the dairy industry as a whole, they admit to being nervous about the falling payout and say they need the first figure in the dairy payout to be a five.
"To make it worth our while, for us it has got to have five in the front," Mr Balchin said.
For most of their careers either David (53) or Robyn (51) has worked off-farm to supplement their income.
They considered selling the farm but realised converting to dairying would make the business viable, while also addressing some of the wider personal issues such as farm succession and their retirement.
They plan to milk the cows themselves, Mr Balchin having previous experience, and feel the size of the farm is ideal in an era when farms and herds are getting bigger and staff more difficult to recruit.
Owning the land and milking themselves were keys to the venture's viability, with last year's $7.90 a kg/ms payout a minor driver"We've been farming long enough to know that was just a blip," Mrs Balchin said.
Mr Balchin has faith in the dairy sector and likens the falling payout to the deer industry, where several years ago venison was selling for $10 a kg before correcting itself.
Milk was a versatile product, a great source of protein and processing was heavily automated, he said.
He also had faith Fonterra had the size to weather the current upheaval.
"The concept of Fonterra is very good.
"It's a single seller and dominant."
While changes to Fonterra's share structure and the ending of contracted supply has made converting more expensive, Mr Balchin said there were other share-purchase options and the reduced value of the fair value share would help them.
Initially, work converting the farm was to be started this August, but contractors approached them last October and said they could start a year earlier.
While it has been stressful, Mr Balchin said they found a herd of in-milk cows locally and expected to be milking next month.
A rock source on the property has reduced lane construction costs and fencing has been kept to a minimum because paddocks were already of a suitable size.
They have removed just two trees.
The Balchins plan to harvest water for stock and spent just $2000 on a dam which will be filled from a water scheme and natural sources in winter, for use as stock water in summer.
Finding bore water has been an expensive and difficult issue for neighbouring farms, Mr Balchin said.
Cup removers and automatic teat sprayers have been installed in the milking shed to make milking a one-person job.
The Balchins said established dairy farmers had been positive, supportive and free with information, but they have employed a consultant to oversee the conversion and another to help with pasture management.
Friends have commented that the Balchins should be slowing down at their age and not starting a demanding new venture, but Mr Balchin said securing the second generation farm in the family and planning for their retirement were huge drivers.
It was also an opportunity.
"I'd hate to get four or five years down the track and regret not giving it a go and then it would've been too late."