Buying Land

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

Posted: Sun Feb 27, 05 9:19 pm Post subject: Buying Land

I'm seriously thinking of buying a few acres of land, mainly to diversify my savings - but there are many, many uses I could put it to.

The problem is finding it, especially in the South. If you try and search on the internet most of the sites are for speculative 'building plots'

I'm not interested in a building plots, ideally a few acres of woodland or scrub. I've looked at the woodland for sale sites and we registered with some agents last year. We've not found much.

Anyone have any advice? Would the farming press or horse magazines you see have anything general in? I did work with someone who went to an auction for a house and came back with few acres.

dougal

Joined: 15 Jan 2005
Posts: 7184
Location: South Kent

Posted: Sun Feb 27, 05 10:27 pm Post subject:

Irrelevant advice! Just for background...
A lot of the demand for woodland is inspired by Tax (minimisation) considerations.

For example, imagine your Dad gives you �100k and dies a couple of years later. That �100k gets added back into his estate for Inhertance Tax purposes. Yes IHT is due on the gift, even though it was years ago. (The whole lot, going back *7* years actually. Only if the gift exceeds the "nil rate band" {�265k ish} does the tax due on the excess taper down between 3 and 7 years.)
But if he gives you woodland and thereafter survives more than *2* years, there's zero IHT on the gift!
And if you die owning woodland, some IHT can be deferred until the trees are felled...
Its a complex area, but I hope that's a concise and accurate introduction...

Guest

Posted: Sun Feb 27, 05 10:36 pm Post subject: Re: Buying Land

Treacodactyl wrote:

Anyone have any advice? Would the farming press or horse magazines you see have anything general in? I did work with someone who went to an auction for a house and came back with few acres.

It'll only be 'reasonable' if it is a) not eligible for non-agri building, b) poor land/needs some work.

I would say you are better (financially) buying more acres than you need, as it will be out of the reach of the horsy set, but yet still be too small for most agriculture use. If you can find someone who has similar ideas, it can be useful to buy between you, or even better, buy it yourself & rent some out.

Lloyd

Joined: 24 Jan 2005
Posts: 2699

Posted: Sun Feb 27, 05 11:42 pm Post subject:
ok, Treacs, try Woodlands .co.uk....I'mjust buying 5.5 acres of mixed deciduous woodland from them right now. Dougal, are you an accountant?..If so, I need you with regard to inheriting money and stuff. Please pm me if so

Lloyd

Joined: 24 Jan 2005
Posts: 2699

Posted: Sun Feb 27, 05 11:47 pm Post subject:

I only used Woodlands .co.uk because the area I want which they are selling is right on my doorstep. I reckon I'm probably paying over the odds, but it's the location that makes it worth it. The hazel coppice neds immediate work, which will return revenue to me. I have three dozen Oaks which are ready, so that's more revenue return. Replanting etc is pence compared to the inlay. And land value only ever goes up!

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

Posted: Mon Feb 28, 05 7:04 am Post subject:

I've looked at the woodlands for sale web sites and there's nothing around here suitable. Some of those also put restrictive covenants on.

The only areas I've seen that have interested by have been too large and too expensive, even if I sell off parts. 60k+ would be putting too many eggs into one basket for me.

How do people tend to find out about these sales, word of mouth or do you keep phoning agents?

Gertie

Joined: 08 Jan 2005
Posts: 1638
Location: Yorkshire

Posted: Mon Feb 28, 05 7:18 am Post subject:

Morning Treacodactyl - have just read your post.

I normally get 'Horse & Hound' which offers some properties, they tend to be the upper end of the market. However they do sometimes have land sales or sales of property which has been used for agricultural purposes and property has basically run down. I have some back copies - tonight I will have a look through (off to work now I'm afraid), but I'll have a look and get back to you.

Treacodactyl
Downsizer Moderator

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

Posted: Mon Feb 28, 05 9:38 am Post subject:

Morning Gertie

Don't go to too much trouble as I assume 'Horse & Hound' has regional editions. The trouble I have is that what I'm after doesn't seem to fit into any publication or common area. I'm not after good pasture or a piece of woodland that's all been tidied ready for posh London folk. If a farm was being broken up I would be after the rough bit of land that's left after the good grazing, woodland and house were sold. I can then either plant trees or look after what's there as I would be looking at a 25 year + investment.

I think I'll have to make a concerted effort for a month or so when I'm next off work and if I don't get anywhere give the idea up. I just get fed up with agents sending pages of 10k building plots through even when asked not to do so.

judyofthewoods

Joined: 29 Jan 2005
Posts: 804
Location: Pembrokeshire

Posted: Mon Feb 28, 05 10:53 am Post subject:

Perhaps a long shot, but why not approach some farmers and ask if they are willing to sell off a piece of rough land. I bought 5 acres off one neighbour for a really good price, though it was ten years ago. How much they will charge you if they agree will partly depend on how you approach them. If they think you have a load of loose cash and a bunch of horses for a hobby, and desperate to find anything, they'll wack a load on top. But poor you only have a small garden, and want to grow a few things to cut cost in the long run, you only have a small garden (so no expensive big house and loadsa monay), and you arrieve in a battered old car, you are already interested in another piece of land, which is quite cheap, but as 'this' one is a little closer, it would have the edge, as long as it was just as cheap.....You never know, there might be a farmer around who just needs a little extra cash at that time.

moggins

Joined: 24 Feb 2005
Posts: 942
Location: Gloucester

Posted: Mon Feb 28, 05 1:35 pm Post subject:
I'm waiting to inherit my woodland, Dad's hit the mid 70's so it can't be much longer now I'm the only one he trusts not to sell it to build houses on.

Pilsbury

Joined: 13 Dec 2004
Posts: 5645
Location: East london/Essex

Posted: Sun Mar 06, 05 12:08 am Post subject:
I would love to buy some Woodland but the only place i know selling it is Woodlands. co , are ther many other places to look and is it easy to do?

Treacodactyl
Downsizer Moderator

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

Posted: Sun Mar 06, 05 8:22 am Post subject:
Some local estate agents will sell it. It's just trying to track them down. As soon as you register you will get swamped with plots for about 5k that may, at some point, get planning permission....or they may not. There is stuff out there.

tahir

Joined: 28 Oct 2004
Posts: 45669
Location: Essex

Posted: Sun Mar 06, 05 9:13 am Post subject:

Pilsbury wrote:

I would love to buy some Woodland but the only place i know selling it is Woodlands. co , are ther many other places to look and is it easy to do?

I saw a woodland plot in Wickford up for sale last year, as well as one near Epping, they were on PropertySpy (I think)

Pilsbury

Joined: 13 Dec 2004
Posts: 5645
Location: East london/Essex

Posted: Wed Mar 09, 05 11:58 pm Post subject:
Thanks I have a friend living in Wickford and spent loads of time in epping as a nipper so i will have a look.

Lloyd

Joined: 24 Jan 2005
Posts: 2699

Posted: Thu Mar 10, 05 12:45 am Post subject:

[quote="Treacodactyl"]I've looked at the woodlands for sale web sites and there's nothing around here suitable. Some of those also put restrictive covenants on.

quote]

I bought mine from "Woodlands.co.uk", and paid slightly over the odds, I think. They put restrictive covenants on every sale now, as a protective measure, to ensure the land will only be used for Forestry, although they divide up the land so much, that each purchase is not viable as a business, but more like a family hobby!

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