Value of land.

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Value of land.
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Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Wed Apr 12, 06 11:50 am Post subject:
Yeah, I read that, and it was, as these things are, little use. A pole barn is fine, a house isn't. I knew that from the Archers! The thought would be that the most valuable land is for horses. If I want rid of it, or need to get the investment back, the quickest way is to have stables, and find someone with more teeth than brains. There's no shortage of them about.

Treacodactyl
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 25795
Location: Jumping on the bandwagon of opportunism

Posted: Wed Apr 12, 06 11:58 am Post subject:
So, what's on the land currently? Flat pasture, stream, pond, rare water meadow?

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Wed Apr 12, 06 12:03 pm Post subject:
Grass. Cows sometimes, spuds a couple of years ago. Old man Griffith's has retired from farming and moved away. He's sold a couple of plots for building, and these are next in line. They are isolated from the rest of his place, which I think'll go as a job lot. There's a stream for 10 months of the year next to it, and I could run electricity to it, although no-one else could, realistically.

Penny Outskirts

Joined: 18 Sep 2005
Posts: 23385
Location: Planet, not on the....

Posted: Wed Apr 12, 06 12:03 pm Post subject:

Just so I get this straight in my head (a difficult thing I know

)

1. We buy a few acres of land
2. We write a business plan that shows a viable business selling produce from the said acres direct to the public, on site. (i.e. vege in season, meat, processed meat, processed food (value-added food such as ketchups, sauces etc) eggs etc.
3. We live in a moblie home on site for a few years
4. Business continues to be viable
5. We get planning to build a permanent residence

Fact or fiction

(not the viable bit, that's a matter of promotion and sums and such like - but whether that's the planning process)

tahir

Joined: 28 Oct 2004
Posts: 45669
Location: Essex

Posted: Wed Apr 12, 06 12:08 pm Post subject:

Penny wrote:

Fact or fiction

Not complete fantasy but you need luck, hard work, pereseverence and an understanding planning authority

Andy B

Joined: 12 Jan 2005
Posts: 3920
Location: Brum

Posted: Wed Apr 12, 06 12:09 pm Post subject: Re: Value of land.

nickhowe wrote:

Let's say my house is worth �400k. I don't know if that's true, but for now, let's roll with it. I have 3 acres of field attached, and that's part of the value.

Next to me, is another field of 5 acres, that's just come up for sale, minimum offer, by sealed bid, of �15k.

If I look at this purely as a financial investment, is it going to add more than �15k to the value of my property, as it's next door, or will it add only �15k?

Will it simply make it more saleable, rather than more valuable? eg, will it suddenly put it into a bracket that, for example, makes it more useable to horse owners?

Buy it, Buy it, Buy it, Buy it, Buy it. If you can afford it, it will be worth the peace of mind and will add value.

Should I buy this land, because if I don't, someone else might, and I might have a view of polytunnels/quad biking/car boot sales? There is zero possibility of using it for building on, as it has no road access, is outside the village envelope and floods.

I have uses for the land, but no need for it. I do, however, have the cash, if it makes sense. Many of you have experience of looking/buying similar size properties. What's your experience?

judith

Joined: 16 Dec 2004
Posts: 22789
Location: Montgomeryshire

Posted: Wed Apr 12, 06 12:10 pm Post subject:

Penny wrote:

Just so I get this straight in my head (a difficult thing I know

(not the viable bit, that's a matter of promotion and sums and such like - but whether that's the planning process)

It will really depend on your council - they do tend to be wise to that trick these days. There are some people down the road from us that tried it - they are still living in a caravan about 8 years on!

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Wed Apr 12, 06 12:11 pm Post subject:
You have to be able to show a need to be on site 24/7, according to the article. Lambing counts, so may security, etc.

judith

Joined: 16 Dec 2004
Posts: 22789
Location: Montgomeryshire

Posted: Wed Apr 12, 06 12:19 pm Post subject:

nickhowe wrote:

You have to be able to show a need to be on site 24/7 ... so may security, etc.

That's the one the people down the road went for...

dpack

Joined: 02 Jul 2005
Posts: 46209
Location: yes

Posted: Wed Apr 12, 06 5:40 pm Post subject:
go for it .

gil
Downsizer Moderator

Joined: 08 Jun 2005
Posts: 18415

Posted: Wed Apr 12, 06 7:15 pm Post subject:

I'd go for it. Up here, �3000/acre seems like the going rate for even quite poor upland these days (land you would have haggled down to �500 or less not so long ago, and without any hope of planning permission). It would add far more than the purchase price to your property value, especially if adjoining.

One of the local property developers round here has just bought a parcel of 16 acres to add to his house and existing 5 acres, with the intention of selling the whole lot for far more at some future date. The plot is across the metalled road from his property.

wellington womble

Joined: 08 Nov 2004
Posts: 15051
Location: East Midlands

Posted: Wed Apr 12, 06 7:46 pm Post subject:

Penny wrote:

Just so I get this straight in my head (a difficult thing I know

(not the viable bit, that's a matter of promotion and sums and such like - but whether that's the planning process)

Pretty much, as I understand it. I think you have to make a profit for three years out of four, and demonstrate a need for being on site (possibly) and it would be an agriculturally toed properterty.

I have no idea about the value of land. It all seems to be ridiculously expensive to me, and I'd definitely buy some if I could afford it. It would probably add value to the house, but not as much as adding 5 acres to a property with none. I'd jump at the chance, and worry about the mortgage later, and I wouldn't think of it as an investment, (as long as it would hold value) but a hobby, and whether it was worth it for me, but thats just me

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Wed Apr 12, 06 9:31 pm Post subject:

wellington womble wrote:

I wouldn't think of it as an investment, (as long as it would hold value) but a hobby, and whether it was worth it for me, but thats just me

Not an investment, but as long as it holds its value? Directly opposed to one another...

�15-20, maybe 30k is quite a hobby.

oddballdave

Joined: 08 Mar 2006
Posts: 259
Location: Telford, Shropshire

Posted: Wed Apr 12, 06 9:42 pm Post subject:

nickhowe wrote:

Grass.

Cows sometimes, spuds a couple of years ago. Old man Griffith's has retired from farming and moved away. He's sold a couple of plots for building, and these are next in line. They are isolated from the rest of his place, which I think'll go as a job lot.

There's a stream for 10 months of the year next to it, and I could run electricity to it, although no-one else could, realistically.

15K might get it for you but as you say, what are other people prepared to pay?

Can you contact Old Man Griffith (retd) and ask what sum he would sell to you directly for. Explain you would be 'homesteading' or some such. He may feel that a sale to you would keep 'his' land viable and may be moved a little by sentiment if you can meet his current financial requirement.

You would lose nothing by discussion with him.

Dave

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Wed Apr 12, 06 9:47 pm Post subject:
I can't, sadly. But, our bid will be accompanied by a letter explaining our plan to keep a local, pedigree herd on it, probably Dexters. Also that we won't be subletting it, putting up polytunnels, or running grass track racing on it, as we've heard(1) the other bidders may. (1) Do voices in my own head actually count?

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