Buying a single field down the road

[jon9000]

A single field is for sale locally just about on our go to parameter. However its only one about 20 acres with some woodland that's under lease.

If someone wanted me to farm in on a cfa I don't think it would be worth my bother? However am I nuts to be thinking about buying it?

What would you do?

 

[bobk]

Depends if there's a chance of development , or it's cheap

 

[Hfd Cattle]

Buy a house to let instead with the money!

 

[betweenthelines]

A single field is for sale locally just about on our go to parameter. However its only one about 20 acres with some woodland that's under lease.

If someone wanted me to farm in on a cfa I don't think it would be worth my bother? However I'm I nuts to be thinking about buying it?

What would you do?

If I were you, I'd proof read my posts

 

[Stewartry hill]

If you can raise the money without stretching to far go for it

 

[jon9000]

If I were you, I'd proof read my posts

I'm thick sorry

 

[Flat 10]

I’d give myself a kick of the arse. You did ask.

 

[hendrebc]

Go for it there are much worse things you can spend your money on that land as long as it's not too much of a stretch. You can always sell it again if something better comes up.

 

[Tarw Coch]

Buy a house to let instead with the money!

A house will give a much better return on investment but possibly with more hassle from tenants and possible added expense in a few years with new epc ratings for rented property

 

[Kidds]

With a bit of work you would get a house on it. Might take 10 years but it would look cheap then.

 

[Spud]

A wise man told me many years ago: 'Before you can own land, first you've got to own land'

I looked at buying some of a local estate that was sold off a few years ago. I added up the costs of all our land rents (except the one year taty lets) and divided by the total acres, including the already bought and paid for fields and proposed to buy land. Just about doable on average performance....

...then I worked out how long it would take for said land to pay for itself on what it would earn based on the same average performance. I'd be 168yrs old by the time it was paid off!!!! It was only going to make sense if either I didn't have to borrow to buy it, or when I sold it, otherwise, it'd just be a constant drain on finances for no gain.

I then worked out payback time on building a b&b pig shed on my landlords property.......and filled in the planning application.

As much as owning land appeals as a farmer (and there is some I'd push harder to get) unless its of sentimental or strategic importance, at the present time I'm better off building sheds.

 

[Al R]

A wise man told me many years ago: 'Before you can own land, first you've got to own land'

I looked at buying some of a local estate that was sold off a few years ago. I added up the costs of all our land rents (except the one year taty lets) and divided by the total acres, including the already bought and paid for fields and proposed to buy land. Just about doable on average performance....

...then I worked out how long it would take for said land to pay for itself on what it would earn based on the same average performance. I'd be 168yrs old by the time it was paid off!!!! It was only going to make sense if either I didn't have to borrow to buy it, or when I sold it, otherwise, it'd just be a constant drain on finances for no gain.

I then worked out payback time on building a b&b pig shed on my landlords property.......and filled in the planning application.

As much as owning land appeals as a farmer (and there is some I'd push harder to get) unless its of sentimental or strategic importance, at the present time I'm better off building sheds.

The cheapest lot near me went for £10k/acre that I’ve rented a 4-5 years now, some of it £25k/acre and at 10k it would take 125 years to pay off if I value it at what I rent it for, a wealthy friend said to me recently either buy stock or buildings/houses but not land.

 

[teslacoils]

If it joins on.....you've got to have a crack at it....surely?

 

[Cowcorn]

A single field is for sale locally just about on our go to parameter. However its only one about 20 acres with some woodland that's under lease.

If someone wanted me to farm in on a cfa I don't think it would be worth my bother? However am I nuts to be thinking about buying it?

What would you do?

Buy it, Mark Twains advice is still valid !! Money has never been cheaper to borrow and remember Dear today getting cheaper every day after that .

 

[pembsarable]

Dig deep and buy it. You may end up with the neighbours from hell in there.

 

[Nearly]

Dig deep and buy it. You may end up with the neighbours from hell in there.

That's becoming more of a reason to buy than ever.

 

[Hfd Cattle]

If it joins on.....you've got to have a crack at it....surely?

I agree on that . I bought the field that joins up 2 of my properties. I dread to think what would have happened if I hadn't . My cousin sold off 3 acres of land in the village and we now have 'the neighbours from hell' in the area . The people next door to it bitterly regret not buying it .
As @Nearly says ....it becoming more of a reason than ever to buy .

 

[ARW]

Personally I would try and buy it, if it’s affordable and reasonable.
So far land doesn’t depreciate, and it only increases your asset value rather than possibly decreasing it if the local gypsy camp buy it etc

 

[ARW]

I agree on that . I bought the field that joins up 2 of my properties. I dread to think what would have happened if I hadn't . My cousin sold off 3 acres of land in the village and we now have 'the neighbours from hell' in the area . The people next door to it bitterly regret not buying it .
As @Nearly says ....it becoming more of a reason than ever to buy .

A field in our village was sold by a farmer, with a clause of no building etc, now it’s a 7 acre field full of scrap horse boxes and boats. It’s a regular in the parish council meetings
We bought the field next door to us last year, which has increased our property value hugely, where if we didn’t buy it and it turns into a 10 acre scrap yard it decreases our value and you have a neighbour from hell
I know it’s not always possible but worth a go

 

[Hfd Cattle]

A field in our village was sold by a farmer, with a clause of no building etc, now it’s a 7 acre field full of scrap horse boxes and boats. It’s a regular in the parish council meetings
We bought the field next door to us last year, which has increased our property value hugely, where if we didn’t buy it and it turns into a 10 acre scrap yard it decreases our value and you have a neighbour from hell
I know it’s not always possible but worth a go

I don't understand people selling a field with a 'no building' clause or an uplift attached to it . All it does is de- value the field and encourage the very people to buy it that you don't want . Some developers will buy fields with uplifts and just sit on them till the uplift expires ,sometimes 20 yrs . I'm a bit lucky that one of the farms we rent was bought like that . It was purchased by a large developer and they are just sitting out the uplift period which was 20 yrs . I took it on,knowing that it would eventually go for development ,12 yrs ago so I know I will still have it for at least 8 yrs left to farm it before they even go for planning (which they will get) and that will take a few yrs to do by which time I will long be retired !