Buying own land.

[Cocorules]

2, no matter how little you pay in livery you'll never get the money back, the land even if you sell it in the future for what you paid you'll get your money back but I think we all know land increases in value with time.

I would also go for it. I did but I have definitely spent more buying my own than I would have on livery.

This is purely on interest by remortgaging to buy, buying machinery and / or work in to get it and keep it the way I want. I could have earnt a lot more had I spent the time working on my own land for someone else who w ould have pai me for it.

The freedom to keep my horses the way that suits me is so so worth it though.

 

[meleeka]

In my area grazing land is stupid money. When I bought my field 8 years ago it was £25k per acre. It now seems to be worth what someone will pay for it but I've recently seen an acre and a half with no services sell for £60k!

You couldn't pay me to go back to livery. Yes I spend a fair bit of time on maintenance, but being outside and looking after my own land (with help from my dad and my neighbour who has a digger) doesn't feel like a chore.

I've been offered more than three times what I paid for it more than once, so I look on it as an investment, knowing I won't lose when I want to sell.

I did pay for water and electric and even that was well worth the investment after renting it and struggling for years without.

A normal solicitor dealt with my purchase so I'm sure the person you have in mind will be fine. Searches are done in the same way as buying a house.

 

[cowgirl16]

Do you know anyone else interested in buying? I know someone who wanted 5 acres and bought with a neighbour, who wanted a much bigger acreage. He then got his 5 acres at 2k per acre instead of 10k which the original vendor wanted for a small parcel!

I like this !! ^^^ Great idea!

 

[millikins]

Another who's missed you, welcome back

As long as it doesn't bankrupt you then the freedom and peace of mind from owning your own land trumps any cost comparison with livery. I had the opportunity to buy the paddock I had rented for 7 years in 2015, I am in Surrey so like Meleeka, prices are very distorted by the area I am in. I have mains water but no electric, that would cost thousands to lay on but there's always batteries and solar. A normal solicitor dealt with my purchase.
Even if this plot isn't the right one I would still keep looking.

 

[popsdosh]

Prices also get distorted because people with horses do not understand the land market and are their own worse enemy recently a 2 acre paddock around here made 60k because thats what they bid. There were no other bidders make sense of that theres 20 acres of grass just up the road from there thats 5k acre thats still not sold either.

I know its slightly irrelevant but this is a very recent article pointing out the land market at present.

Four in every 10 acres of farmland marketed in 2016 remained unsold or were withdrawn by the end of last year, according to data from Strutt & Parker.

This was the highest proportion of unsold or withdrawn land since the agent’s records began in 1996 and was despite a 15% year-on-year fall in the number of acres on the market.

Just 24% of all acres marketed in 2016 were exchanged by the end of the year, compared with 69% in 2015 and 79% in 2014.

This left 37% available and not under offer by 19 December.


Every region, apart from the South West and Yorkshire and the Humber, saw a fall in acres for sale, with only 2,200 acres marketed in the North West.

However, it was now not a lack of farms driving the market, but a lack of demand, said Jason Beedell, partner and research lead at Strutt & Parker.

See also: 2017 checklist: How to prepare and manage your farm business

Demand had started to fall following the EU referendum result, added Mark McAndrew, the agent’s head of national estates and farm agency.

As land prices fell, sellers found it difficult to set a guide price appealing to buyers, he said, and farms or land seen as too expensive failed to sell.

“Getting that guide price right in a falling market is critical,” said Mr McAndrew.

What’s behind the numbers?
With confidence returning somewhat towards the end of 2016, a larger number of farms were marketed.

But selling a farm typically took six to nine months, said Dr Beedell, so this could help to explain the large proportion of unsold acres at the end of the year.

Buyers may also have regained confidence towards the winter, as 37% of acres were under offer, compared with 13% at the same time in 2015.

However, some farmland, which is still for sale, has been on the market since at least April last year, according to the agent’s database.

See also: Prices compared: Buying and renting land in Britain

85,300 acres were marketed in 2016. This was 15% down on 2015, but in line with the five-year average.

Only 13 estates of 1,000 acres of more where on the market last year.

The agent’s database is populated by Strutt & Parker’s agents and includes land the company is selling, plus other land publicly marketed in the country and farming press and any private sales the agents know of.

For the purpose of the database, a farm is any block of farmland of at least 100 acres.





Read more on: BusinessFarms & landPrice trends

 

[paddi22]

I would be wary of getting fields with no water. I had one a while ago and it drove me mad. In hot summers you are constantly topping it up if you have a herd there. And in winter it was an absolute nightmare trying to get water up in the back of a jeep in mud and ice. Was a massive amount of work and i'd never do it again. New field has running water and it just makes life 1000 times easier. If i was you i'd look into if you can tap into others water or run some kind of pump.

 

[DD]

Water, our land has no natural water supply we have a large plastic tank on a trailer which we fill at home and take to the fields. usually fill once a fortnight on average, less in summer when they are eating less hay. its not difficult nor is it a nightmare. land is in short supply and waiting for the perfect plot might mean you never get to own your own field.
price of land. its worth what you are willing to pay. £10,000 is guide price, if you really want it then you need to bid more. is it for sale by tender or public auction? if tender then you need to offer your maximum price if you really want it. at auction you might get it cheaper---or not! you could be out bid both ways.
solicitor, the estate agent selling the land will advise or have a list of solicitors who deal with land conveyancing
buying my own ground is one of the best things I've ever done. good luck, go for it.
ETA I paid top dollar for the land at the time, 12 years ago. now its worth 4 times more than what I paid! excellent investment.

 

[ITPersonnage]

Nothing of any use to add except I'm thrilled that you're back, and I really hope it all works out for you

PS thanks to you my girl is still going strong

 

[meleeka]

Popsdosh That's interesting and the same thing is happening here with large parcels of land. Smaller fields however are much more sought after, which is why they command a much higher price and are sold pretty quickly.

When I bought my field I wanted to make a lower offer (an estate agent had valued it) but I knew if I didn't pay the asking price there would have been a queue of people willing to pay the asking price and more. They wouldn't have all been horse owners either, but more people looking for small holding land or travellers.

 

[PeterNatt]

£10k per acre is seriously cheap.
You need to make sure that you can get change of use from Argicultural to Equestrian use and I would suggest you instruct a local surveyor.
If the land has been cropped and put in to grassland then you will need to do this and get a soild sample first to determine any defficiencies. Also install drainage before doing anything else.
If you are puuting it down to grassland they chose the grass with care and leave horses off if possible for 3 years.
Ensure all fencing is secure - i advise post and rail with Equifencing so that dogs etc can not get in to the fields or horses kick through the fence lines.
Use plastic water troughs as if they kick metal ones they cxan fracturev their legs.
Installing a water meter will cost form £3k + depending on the location and if a road closure is required.
If you want a chat about it - I have done this several times then contact me.

 

[meleeka]

That's a lot for water Peter. My water was well under £1k but the electric was over 2. It does pay to find out what the land is classified as. I recently discovered mine isn't classified as anything and the council were quite happy to believe me that it had been grazing for horses for over 20 years. They said I didn't need it as equestrian if I wasn't riding on the land nor having paying liveries.

 

[Leitrim]

Based as I am on 4.5 acres of very hilly clay my main concerns would be gradient and soil type. Sheep previously grazed my land and while it was fine for them it is pretty hopeless, even dangerous, for horses throughout wet winters and it isn't the type of terrain you could easily harrow or roll. Drainage is very, very expensive. Hopefully the land you are interested in has a nice lot of non-clay level areas.

 

[horsey.cowgirl]

Hi Oberon, we were in process of buying own land in Hampshire last year -the minimum you would pay in that area is 20k per acre, so 10k sounds great, however water connection might be costly...

 

[jrp204]

A smaller plot of land will make considerably more than 10k/acre (down here). Also, it may be difficult to get planning for stabling, hard standing etc.

 

[tessah]

Go for it...if u have the cash you can always use a livery periodically if you need to.
Having your own place is much harder than being on livery but there is only your own politics and for some people that and security is worth more.
I looked for about 3 years to buy and eventually got something but it so scarcely comes up for sale in some areas that when it does you need to be quick. Obviously depending on the part of country you are in. If it's not perfect then you can fix it over time. Just check your access and what you would be responsible for. And yes it seems to all cost more in terms of time and money but worth it in the long run!
Last year 2.5 acres went up for sale round here for £150k and this had already had planning turned down apparently.

 

[sport horse]

I would not buy land without good access - road or surfaced track.
There are suggestions in farmers weekly that land prices will fall as agricultural subsidies are withdrawn following brexit.
Does the land have planning for equestrian use
You could make an offer for the land you want subject to the vendor installing a water supply. If adjoining land has water and the vendor is a farmer he could mole plough a supply much cheaper than any other way. Problem - you may have to have a sub meter and work with purchasers of other land to make payments. Not unusual in the countryside.
You may never get another chance to buy land in the area you want - GO FOR IT!

 

[PeterNatt]

My bill for installing a metered water supply (land was adjacent to a road and included a road closure so that the road could be dug up) was £3,100 last year.
Then had the additional cost of mole drilling a 25mm pipe to various fields , installing plastic water troughs on concrete bases and a water supply to our cross country water jump!

 

[Orangehorse]

Ask the selling agent if it has permission for horses, although for grazing horses there is no change of use. You should be OK with a mobile shelter, but it depends on the local authority.

Physically measure the plots, as in measure the length of each fence, so no one can come along and start moving the posts.

The seller will probably only deal through the agent, and it is agent's job to get as much money as possible. Don't rely on anything that the agent/seller says like "should be possible to hook up to water supply, should be OK with mobile shelter" you need to see it in writing from the appropriate authority/person.

 

[Slightly Foxed]

There is, indeed, a lot to think about but it will be worth it. Access is a big issue. We were initially refused planning permission for stables because the Roads bit of the council thought that there wasn't sufficient visibility coming out of the land onto the road. The road was bleddy quiet in those days! Anyway, a bit of hedge shifting sorted that.

You will be liable for non-domestic rates whatever structure you put up (not too sure about mobiles but councils are cottoning on to those) that's not within the curtilage of your house, they're not business rates.

Good luck, it's a money pit having your own land but you can't beat it!

 

[Abby-Lou]

I bought a bare piece of land 4 years ago It takes a lot of hard work and in my experience always factor at least an extra £500 to costs. I honestly wouldn't both with a land agent its dead money in my opinion. But do your homework re: access and services to the land, this is where I learnt some lessons but was very fortunate to have some very good friends to help me a long the way. p.s Best thing I have done !