Chasingmytail
Member
- Location
- Newport, SE Wales
Looking at options for more income. Have Grade ll farmhouse which is under renovation and a modern but small bungalow that we are living in.
There are many options open to us but the biggest potential earner is to offer the farmhouse as a large party/family/longterm rental. Put extension on the bungalow. Or the other way around. However the bungalow would only bring a small income in letting and because its farm tied I'm unsure what the legalities are on this?
I know the cost of kitting the farmhouse out to the standards you see in Tom & Kates website would be high but the rental potential would be good. Being close to Cardiff. Celtic Manor, Abergavenny, mountain biking next door (1hr forest of dean) etc. Our location would be great.
Downsides are sharing the farm entrance, getting the areas around the yards cleared up, shipping containers moved, swearing. Dealing with very demanding clientele. Cleaning costs, demands on our time to sort the place out, advertising, redecorating...all seems to take a chunk out of a weekly income. If farming and construction is this really workable?
Renting the farmhouse as a home could be an option but that would mean someone taking over and I can see that becoming an issue.
So settled into the bungalow now moving into the farmhouse just seems like an emotional wrench. Neither of us have any passion left for the house. Decisions have been taking off us and its been a drain on us.
But do we want to add difficulties and more demands to our home life? We want to make more time to enjoy ourselves but an additional income would be a bonus. Are there any other options we could consider I wonder?
There are many options open to us but the biggest potential earner is to offer the farmhouse as a large party/family/longterm rental. Put extension on the bungalow. Or the other way around. However the bungalow would only bring a small income in letting and because its farm tied I'm unsure what the legalities are on this?
I know the cost of kitting the farmhouse out to the standards you see in Tom & Kates website would be high but the rental potential would be good. Being close to Cardiff. Celtic Manor, Abergavenny, mountain biking next door (1hr forest of dean) etc. Our location would be great.
Downsides are sharing the farm entrance, getting the areas around the yards cleared up, shipping containers moved, swearing. Dealing with very demanding clientele. Cleaning costs, demands on our time to sort the place out, advertising, redecorating...all seems to take a chunk out of a weekly income. If farming and construction is this really workable?
Renting the farmhouse as a home could be an option but that would mean someone taking over and I can see that becoming an issue.
So settled into the bungalow now moving into the farmhouse just seems like an emotional wrench. Neither of us have any passion left for the house. Decisions have been taking off us and its been a drain on us.
But do we want to add difficulties and more demands to our home life? We want to make more time to enjoy ourselves but an additional income would be a bonus. Are there any other options we could consider I wonder?