Land?

[KevjustKev]

Being a Kev of very little brain, is land a good thing to go for?

Round my way buying any kind of house, flat, garage, phone box is well out of the range of just about everyone. The cheapest I've seen was a one bed, run down, in not the nicest part of town and it went for near £200,000! So that's out. If I was to buy anything in the UK, well I can't afford it in the first place, than add on council tax, and it makes it a no go.

 The only place I can really think of is the US. A few acres in, say WV, NC or KY, with water front and quids in? 

I'm not looking to develope plus I can buy outright and the taxes seem silly. Just hire out for camping, hunting, shooting and fishing. $50  a week?

What's the catch?

[AppleZippoandMetronome]

14 minutes ago, tallthinkev said:

Being a Kev of very little brain, is land a good thing to go for?

Round my way buying any kind of house, flat, garage, phone box is well out of the range of just about everyone. The cheapest I've seen was a one bed, run down, in not the nicest part of town and it went for near £200,000! So that's out. If I was to buy anything in the UK, well I can't afford it in the first place, than add on council tax, and it makes it a no go.

 The only place I can really think of is the US. A few acres in, say WV, NC or KY, with water front and quids in? 

I'm not looking to develope plus I can buy outright and the taxes seem silly. Just hire out for camping, hunting, shooting and fishing. $50  a week?

What's the catch?

The catch is realistically you probably won't be able to do much with it or generate money from it especially being so far away. I own land in Canada but live in the UK. I've made a few attempts to make money off of it but its completely unrealistic without being able to be there. Given the value as well it doesn't make financial sense to have someone local manage anything for you as you'll be paying them more than you'll generate from the land. Thats the thing when its in abundance...  it means its not a particularly valuable resource in pure economic terms.

I'm now in the process of buying land in the UK close to where I'm living and it amuses me to be paying as much for 1acre here as my 14 acre plot cost me in Canada. Still when you consider how much less land there is here vs there I guess it looks cheap.

[Martlet]

Are you looking for this sort of thing? https://www.onthemarket.com/details/8555329/  £30k for riverside land near Rye. 

Agricultural land isn't so expensive as anything that might be developed, the further from town the better, where there is less chance of planning permission for housing development.  I dont think a lot of it comes up for sale on the normal online agents, you need to be more on the ground. 

 

[KRO]

if looking for uk land, make sure you buy whole fields 

don't ever entertain those sub divided plots

UK agricultural land  has always been a good purchase so long as you don't get carried away at auction

bought my first land at £1000 per acre in 1975
recently where I live 2 acre field made £76000😀

[HillWalkerDundee]

"Round my way buying any kind of house, flat, garage, phone box is well out of the range of just about everyone."

 I think the one lesson we have learned recently is that there need not be a physical link between a bum, a chair and an office block. You can work effectively from home. There is a huge amount of land throughout the UK, some of it is suitable for housing. Nearby, there is a half acre plot with outline planning permission for £18,000.

Put a second hand mobile home on it and build your own using shipping containers. Put four forty foot shipping containers together and you have a 1,300 square foot property for around £120,000. Just think outside the box.

[HerculeHolmes]

On 04/08/2020 at 13:51, KRO said:

if looking for uk land, make sure you buy whole fields 

don't ever entertain those sub divided plots

UK agricultural land  has always been a good purchase so long as you don't get carried away at auction

bought my first land at £1000 per acre in 1975
recently where I live 2 acre field made £76000😀

Another little tip I can add is to be extremely, extremely careful of anyone asking you to sign something giving them permission to access your land. My aunt almost got caught by that; BT wanted access rights to the field - something to with servicing the telephone poles I think - and they offered a small sum of money, but then someone explained to her that when they say "access" it doesn't mean just one or two men walking across the field once or twice a year to climb up the poles, it means vans, lorries, storage, and anything the hell else they want to do.

Turns out she was also entitled to land rent for the telephone poles which BT had never paid. Oh, and one of her field-owning neighbours was taking the piss by grazing his sheep on her fields; he did it all the time because she didn't know any better. Grass is worth a fair old wedge of cash in large amounts. 

[Foster88]

@tallthinkev I too have looked into buying land in UK.

The land in Wales seems to be cheaper than most parts of England and it’s mostly agricultural.

[Thelonerangershorse]

1 hour ago, Foster88 said:

The land in Wales seems to be cheaper than most parts of England and it’s mostly agricultural.

It's also mostly on a 1:4 incline.

[Stacktastic]

I would hang on for property and land as its set a huge slump in the next few years. 
If this ever promoted depression comes along, Farmers and developers will be chewing thier arms off to sell to you, especially if living expenses and social unrest increase. 
I would suspect that Mortgage repossessions at auction would be a good one, but luxuries that can go, would be my target - Beach huts & holiday homes. 

It might get to the point where you can exchange directly for gold, but I wiped hate to think what would be happening for that to happen. 

If I had a couple of hundred grand, I would be tempted to find desperate people & offer them stupid low cash payments for the keys. 
I am talking about people that have a house thats far too expensive for thier means and nw BMW's on finance packages etc. 
Failing that you can always just put leaflets through doors in your desired area or ask on FB groups. 

A desperate famer might be persuaded to give up a field or two, especially good if it has building on site and possible planning permission. 

[Cornishfarmer]

3 hours ago, Stacktastic said:

. A desperate famer might be persuaded to give up a field or two, especially good if it has building on site and possible planning permission. 

Think you’ll struggle, price of land is too high at the moment and sue a fall when direct payment stop.      But while agricultural relief is still about for inheritance tax reasons land will still be over valued.......... just see what mr Dyson owns!!!

[Silverman2U]

On 12/10/2020 at 14:40, Foster88 said:

@tallthinkev I too have looked into buying land in UK.

The land in Wales seems to be cheaper than most parts of England and it’s mostly agricultural.

I love wales, especially north. But there are few reasons why it’s cheap.