Buying 20 acres good or bad idea.

realchewytiger · 13-03-2019 04:38PM #1

Any farmers thinking of purchasing farmland this year or is it too risky with all this uncertainty with brexit Reason I ask 20 acres for sale near me, thinking of putting a bid on it would need a farm loan to buy it. Having doubts with all this negative talk on farming.

PoorFarmer · 13-03-2019 04:59PM

Hard to tell. We took the plunge with 23 acres a few weeks back but only time will tell. Hard to tell at the moment but is hard to ignore it if it's on your doorstep. Alot of land for sale at the moment

monseiur · 13-03-2019 05:30PM

Once up on a time (.....that's how all good fairy tales begin!) a young man won a small fortune on the Sweep Stakes. He asked his father for advise re. investing his money - the father replied 'Buy land my son, the Good Lord will never again create any more of it'

lalababa · 13-03-2019 05:37PM

What will be your return on investment?
Will you be comfortable paying off the loan?
What interest will you pay? What is the emotional/self worth value to you to have the land.
How high will the price of the land go to win it or is it fixed) agreed?
Try to factor possible future senarios, ie economical senarios such as brexit , into return on investment calculation s.
Has it got BPS?????

Donald Trump · 13-03-2019 05:56PM

PoorFarmer wrote: »

Hard to tell. We took the plunge with 23 acres a few weeks back but only time will tell. Hard to tell at the moment but is hard to ignore it if it's on your doorstep. Alot of land for sale at the moment

I like the combination of the post content with the username

Donald Trump · 13-03-2019 06:01PM

monseiur wrote: »

Once up on a time (.....that's how all good fairy tales begin!) a young man won a small fortune on the Sweep Stakes. He asked his father for advise re. investing his money - the father replied 'Buy land my son, the Good Lord will never again create any more of it'

I heard that story too. And as the young man became a middle-aged man and then an old man he worked hard and minded that land. It meant a lot to him. He broke his back for that that land, he forwent many luxuries and even preferred to stay a bachelor rather than waste any pennies on social events or finding a lady for himself. But on his death bed he was happy. He had kept that land and was about to pass it onto his nieces and nephews...........

..............who promptly sold it before he was cold in the ground and spent all the proceeds buying themselves a truckload of expensive hats

Still waters · 13-03-2019 06:05PM

monseiur wrote: »

Once up on a time (.....that's how all good fairy tales begin!) a young man won a small fortune on the Sweep Stakes. He asked his father for advise re. investing his money - the father replied 'Buy land my son, the Good Lord will never again create any more of it'

Gold can be bought too dear as well, I hear that saying around here too and it's nonsense like this that has put too many farmers under pressure, OP, if you sit down and do your sums and it all seems ok then go for it, if there's any doubt forget about it, 20 acres will mean more stock and more work but will it mean a better living for you ?

Keepgrowing · 13-03-2019 08:38PM

realchewytiger wrote: »

Any farmers thinking of purchasing farmland this year or is it too risky with all this uncertainty with brexit Reason I ask 20 acres for sale near me, thinking of putting a bid on it would need a farm loan to buy it. Having doubts with all this negative talk on farming.

Yes, if you’ve the cash flow to meet the repayments.

Albert Johnson · 13-03-2019 11:12PM

Donald Trump wrote: »

I heard that story too. And as the young man became a middle-aged man and then an old man he worked hard and minded that land. It meant a lot to him. He broke his back for that that land, he forwent many luxuries and even preferred to stay a bachelor rather than waste any pennies on social events or finding a lady for himself. But on his death bed he was happy. He had kept that land and was about to pass it onto his nieces and nephews...........

..............who promptly sold it before he was cold in the ground and spent all the proceeds buying themselves a truckload of expensive hats

We had a man locally who was cut from the very same cloth. He would go without his breakfast to add to the estate, the same fella died suddenly and left the whole lot to a nephew who subsequently cashed in everything in site. This nephew has a taste for the finer things in life and thinks nothing of indulging his many passions with his uncles hard earned cash. As another local character summed it up recently, "One man saved it by the spoonful and the next spent it by the shovelful".

Grueller · 13-03-2019 11:27PM

Albert Johnson wrote: »

We had a man locally who was cut from the very same cloth. He would go without his breakfast to add to the estate, the same fella died suddenly and left the whole lot to a nephew who subsequently cashed in everything in site. This nephew has a taste for the finer things in life and thinks nothing of indulging his many passions with his uncles hard earned cash. As another local character summed it up recently, "One man saved it by the spoonful and the next spent it by the shovelful".

I am good friends with a local man in his late 70s here. He is almost 40 years older than me but calls into the wife and I at least two evenings a week. He is a great auld character and has gathered serious wealth in a lifetime of work that started driving a London bus. He is always minding the pennies.
We were talking one night and I said to him that after all his gathering up he has two sons who are in no way interested in farming and will probably sell it to pay down large mortgages in Dublin. His answer was , sure I know that a leanbh, but if they enjoy scattering it as much as I enjoyed gathering it they will be happy men.
Maybe thats the crux of the issue. The fun is in the challenge of gathering the estate. Its not for everyone and certainly not for me, but it is for some.

Who2 · 13-03-2019 11:36PM

Brexit will be come gone and long forgotten, if youve the inclination, the funds or repayment capacity and have worked out whether you may have to sacrifice certain other aspects and your still interested, then go for it.
Im currently bidding on a fairly decent sized plot of ground and while i have based it on a fairly realistic sort of a return, i am under no illusion that i may have to carry the cost out of my own pocket for a fair while if everything goes completly arseways.

Nobbies · 14-03-2019 12:38AM

Land bought at the right price is always a good investment. But i suppose there was never much land bought at that right price. best of luck op what ever you decide.

grassroot1 · 14-03-2019 12:44AM

What current enterprise will pay for the purchase of agricultural land?

Nobbies · 14-03-2019 12:55AM

grassroot1 wrote: »

What current enterprise will pay for the purchase of agricultural land?

I won't attempt to answer that one.I'd say it would want a whole thread of its own.

_Brian · 14-03-2019 06:11AM

grassroot1 wrote: »

What current enterprise will pay for the purchase of agricultural land?

If this question was asked and answered honestly more often land would change hands for a far more realistic price.

The old, “buy it because they’re not making any more” makes no sense if it’s not making any money amd in fact taking money from somewhere else.

Mad_maxx · 14-03-2019 07:26PM

For anything but dairying, 5 k an acre is plenty

SuperTortoise · 14-03-2019 08:41PM

Albert Johnson wrote: »

We had a man locally who was cut from the very same cloth. He would go without his breakfast to add to the estate, the same fella died suddenly and left the whole lot to a nephew who subsequently cashed in everything in site. This nephew has a taste for the finer things in life and thinks nothing of indulging his many passions with his uncles hard earned cash. As another local character summed it up recently, "One man saved it by the spoonful and the next spent it by the shovelful".

As they say, the 1st generation makes it, the 2nd generation minds it, and the 3rd generation spends it!

Muckit · 14-03-2019 08:51PM

Unless dairy lads would be better put that money into paying off mortgage early

realchewytiger · 14-03-2019 09:14PM

Mad_maxx wrote: »

For anything but dairying, 5 k an acre is plenty

Land needs fencing, ditches cleaned total reseeding alot of rushes from neglect from years of letting. No water on the land no sheds or penning. Has an old cottage with esb connected. Land either side of it is good ground so has potential I think. Auctioneer has it advertised at 100k.how low of an offer could I go in at? No offers on it so far.

Keep Sluicing · 14-03-2019 09:36PM

realchewytiger wrote: »

Land needs fencing, ditches cleaned total reseeding alot of rushes from neglect from years of letting. No water on the land no sheds or penning. Has an old cottage with esb connected. Land either side of it is good ground so has potential I think. Auctioneer has it advertised at 100k.how low of an offer could I go in at? No offers on it so far.

From what you described, less acres but land in good condition with an old rundown house for twice the price.
100k is good value.

Donald Trump · 14-03-2019 09:51PM

Keep Sluicing wrote: »

From what you described, less acres but land in good condition with an old rundown house for twice the price.
100k is good value.

Depends where it is

Probably not too overpriced anywhere in the country at that, but might not necessarily be a bargain either

When you're talking about rushes, you're not going to be paying top dollar compared to best land in the country.

There will be a value to it though.

Muckit · 14-03-2019 10:21PM

Good land will grow rushes if it hasn't been farmed in a while.

Dunedin · 14-03-2019 10:27PM

Albert Johnson wrote: »

We had a man locally who was cut from the very same cloth. He would go without his breakfast to add to the estate, the same fella died suddenly and left the whole lot to a nephew who subsequently cashed in everything in site. This nephew has a taste for the finer things in life and thinks nothing of indulging his many passions with his uncles hard earned cash. As another local character summed it up recently, "One man saved it by the spoonful and the next spent it by the shovelful".

When there’s a gathering, there’ll be a scattering

Grueller · 14-03-2019 10:57PM

Muckit wrote: »

Unless dairy lads would be better put that money into paying off mortgage early

What if its already paid?

LeoHughes · 14-03-2019 11:08PM

what guide price on it, how much an acre

gozunda · 14-03-2019 11:37PM

Mad_maxx wrote: »

For anything but dairying, 5 k an acre is plenty

And when others are outbidding everyone else?

cute geoge · 14-03-2019 11:45PM

Land you can go into on Christmas night is always worth buying but as for mediocre land run as fast as you can

Muckit · 14-03-2019 11:55PM

Grueller wrote: »

What if its already paid?

Work away then! You are on the pigs back

handlemaster · 15-03-2019 09:37AM

OP , do what interests you, you wont be on long here, best to buy if you want to and have the funds. Lots of people got more value than the intrinsic value most people place on land.

realchewytiger · 15-03-2019 09:55AM

handlemaster wrote: »

OP , do what interests you, you wont be on long here, best to buy if you want to and have the funds. Lots of people got more value than the intrinsic value most people place on land.

When I go in to put a bid on the land how should I handle the auctioneer, what sort of questions should I be asking. Is it wise to be the first bidder it will probably bring buyers out of the woodwork asking price is 100k.any advice would be appreciated on buying land.

handlemaster · 15-03-2019 10:54AM

realchewytiger wrote: »

When I go in to put a bid on the land how should I handle the auctioneer, what sort of questions should I be asking. Is it wise to be the first bidder it will probably bring buyers out of the woodwork asking price is 100k.any advice would be appreciated on buying land.

All depends on how much you think it is worth. Offer what would think its worth. No point in trying to low ball , you will not be taken seriously. And will be seen as a time waster

Buying 20 acres good or bad idea.

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