Ideas welcome

Dubsey

Hi all,

So we are a family of 4 (soon to be 5) + dog living in Dublin. Both myself and my wife work full time. We are both from Donegal originally and what with the whole new working from home vibe we are thinking more and more about having a second home in Donegal.

I am an only child and my mother (with help from locals from time to time) still runs a farm up there at 74. But she does it more as a way of life as opposed to a business and only about 1/4 of the land is grazed in the year. She lets some of it out but that’s more to keep it from getting overgrown and she wouldn’t be charging going rates.

Neither my home house nor my wife’s house are big enough to accommodate us as a family while we are up there. A time will come when we will have inherited property up there but I hope that is a long way off yet.

What with mortgage and childcare costs in Dublin, raising enough cash and committing to another mortgage is proving difficult.

So I am wondering what options might be available to generate some income from the land whilst not being too drastic etc. such as selling sites etc.

The farm in total is around 90 acres of mixed quality.

Forestry? Rapeseed? ...?

Thanks for any ideas.

Grueller

Dubsey wrote: »

Hi all,

So we are a family of 4 (soon to be 5) + dog living in Dublin. Both myself and my wife work full time. We are both from Donegal originally and what with the whole new working from home vibe we are thinking more and more about having a second home in Donegal.

I am an only child and my mother (with help from locals from time to time) still runs a farm up there at 74. But she does it more as a way of life as opposed to a business and only about 1/4 of the land is grazed in the year. She lets some of it out but that’s more to keep it from getting overgrown and she wouldn’t be charging going rates.

Neither my home house nor my wife’s house are big enough to accommodate us as a family while we are up there. A time will come when we will have inherited property up there but I hope that is a long way off yet.

What with mortgage and childcare costs in Dublin, raising enough cash and committing to another mortgage is proving difficult.

So I am wondering what options might be available to generate some income from the land whilst not being too drastic etc. such as selling sites etc.

The farm in total is around 90 acres of mixed quality.

Forestry? Rapeseed? ...?

Thanks for any ideas.

Donegal has the greatest variation in land quality probably on this Island. From mountain to bog to potato and tillage land, its all there. The potential income generated from the land will depend on which category it falls into.

Best of luck with the imminent new arrival.

_Brian

First thing is are you sure the land is rented or just being used ?? There’s the danger if a claim of rights if it’s bern constantly used without challenge, it does happen so beware. Not uncommon for a financial claim for help given either.

I’d say your best bet is talk to a local auctioneer about rental potential. Forestry is an option but a nuclear one as the land is lost to farming forever, something many of us struggle to reconcile particularly since the income isn’t permanent and not that great either.

Last thorny question, are you sure your going to inherit it ?? I’ve known land given to people outside the family simply because the person helped out when it was needed.

Hard Knocks

How much help do you give your mother?
Would you be willing to help her more?
Are you both working from home currently?
Would your current employer be open to working from home in the future?
Is there good services (childcare fast internet etc) local to your mother

I’m currently working from home with my job and hope to be a few days a week when all goes to the new normal
There’s people local to me that have jobs in Dublin and were working from home 2 days a week precovid

There’s no easy answer, it’s best to test before jumping in
Can you rent somewhere nearby for the summer

Dubsey

Hi brain. Thanks for the heads up regarding the claim. Yes she would be traditional and in that sense and it would be a case of calling round to the house drop a few hundred thanks very much. So that is something to consider.

Yes I am sure on the inheritance side. My mother and I are actually joint owners currently.

I give my mother little to no help at the moment. We go to Donegal possibly five times per year. When I’m up there I feed the cattle cut some sticks et cetera.

Probably not willing to help more currently given the busy day job I have. It would likely be hired local help to assist her as needed.

We are both working from home currently.

Thankfully both of her employers are quite flexible.

Internet level would be reasonable but workable.

This wouldn’t be a permanent move we probably see yourselves going to Donegal as a primary residence in the next 10 to 15 years. But for the short term Dublin will be the home of our children where they go to school and likely college.

The current aim is to generate more income for our family with a view to supporting us as we purchase something up there to visit and stay in for a week here and there as circumstances permit.

So the current thought process is seeking to gain approval for a second mortgage and then renting out there while we don’t need it.

_Brian

Dubsey wrote: »

Hi brain. Thanks for the heads up regarding the claim. Yes she would be traditional and in that sense and it would be a case of calling round to the house drop a few hundred thanks very much. So that is something to consider.

Yes I am sure on the inheritance side. My mother and I are actually joint owners currently.

I give my mother little to no help at the moment. We go to Donegal possibly five times per year. When I’m up there I feed the cattle cut some sticks et cetera.

Probably not willing to help more currently given the busy day job I have. It would likely be hired local help to assist her as needed.

We are both working from home currently.

Thankfully both of her employers are quite flexible.

Internet level would be reasonable but workable.

This wouldn’t be a permanent move we probably see yourselves going to Donegal as a primary residence in the next 10 to 15 years. But for the short term Dublin will be the home of our children where they go to school and likely college.

The current aim is to generate more income for our family with a view to supporting us as we purchase something up there to visit and stay in for a week here and there as circumstances permit.

So the current thought process is seeking to gain approval for a second mortgage and then renting out there while we don’t need it.

Sounds great.
Id consider sticking a 3 bed mobile on it somewhere. Get plenty for €6-8k. You’d have somewhere close to the mother to stay and use as a holiday home. Great crack for young kids to holiday beside granny.
For me renting would be the way to go. It generates an income now but retains the option for you to farm or plant down the line.

Look out for the new enviro schemes coming down the line, with so little of the farm being utilised you could be involved in these and no much bother.

I wouldn't plant it, as you're stuck with forestry then if you ever change your mind any grant would need repaying plus money for restoration works.