just looked at it there on google maps.. will it be sold in one lot…?? there is a right chunk of it bounding you…
2 lots
68 acres bounding me
there’s 36 acres going on the market on the other side of the lane opposite the parents house
Was ready to put in robots but that idea has stalled
Best of luck with it. I hope it goes your way and not to a deep pocket investor.
don’t think I’ll be bothering with it - just found out the guide price is 25-30k an acre or roughly 17k a month in repayments over 25 years
takes the fun out of it doesn’t it….
Jeez 17k would soften a fellas cough…
Is that the usual guide price up that way. That's ferocious.
Just buy it. Worry about paying for it after. Be grand
in 25 years time 17k a month will be small money.. when you buy or invest inflation is your friend.. the day you buy is the best day
What bank are you with?
To be honest if you can't knock a decent crack off buying it what hope have the rest of us with the figures you throw up here.
A long time ago, I heard someone say the cows aren't settling in the stalls because there was an earth leak and they were getting it when the clusters went on. I'm sure it's electricians doing the wiring nowadays and not the builder. Maybe one to check.
That's silly money, it's a bleak enough looking prairie anyway.
Land has bubbled in the last 3 years, it'll be stagnant for 10+ more again like it always does.
Buying through a company setup at 25k an acre is equivlent to paying 15k an acre as an individual paying at the top rate of tax.
As I have pointed out using limited companies to buy land is of no benefit to farmers. Looks like I moved at the right time. Everybody is now saying what I bought was cheap land. However it was a public auction. It was a dairy farmer I saw off that day too.
At 25k an acre you will have a bit of change left out of a million. At 28k an acre you will be hitting 1.1 million by the time legal and stamp duty are paid. Sell a couple of the rented houses. Take a few bob from under the mattress and under the cushions on the couch. Remember you do not have to paint land and hope to f@@k there is not a beef farmers there with a few bob in his back pocket.
Perhaps you could buy one of the lots. A million would cost about 6000 a month. It would be a better buy than robots.
37 acres at 25k for argumentsake, would be circa a million, at 6.5% intrest, you could buy the equivalent of 7 ton of barley/maize an acre just on intrest servicing costs the first few years...
Hard to square that circle unless of course you had the next generation coming through that where hell bent on dairy farming as a career
If I was ever to buy land, I'd be wondering what impact it'd have on the next generation. Would they farm it, sell it, fight over it, etc.
Land wins long term, due to asset appreciation and inflation eating the real value of the loan.
150 hp tractor is now 150k, 1 million isn't what it used to be.
but its hard to gather it all the same.
you would still be a long long time earning a million taxes rearing you children sickness etc all come the way
The level or pace of inflation is not guaranteed. The problem with farm incomes is that they aren't as strongly correlated with it any more either. Your inputs might be, but your outputs not as strongly.
Land has shot up in the last few years but it still below what it was for a few years before the crash in this area anyway. A ~30 acre bit down the back of a farm of an uncle of mine went for over a million about 20 years ago. A few years later an 80 acre block across the road from it made about 5m because it had a good bit of road frontage. Agricultural zoned and not near anything else to give it reasonable hope value. Obviously when the place across the road went for for so much there would have been a bit of "I should have bought when it was cheap and only 30k an acre".
You could be lucky and be like those that bought in the 80's and early 90's and hit the jackpot in relation to inflation. Or you could be like those in the 60's and 70's who bought at peaks when things were buoyed up by (approaching) entry to the EU and had to try to endure the following decade or two.
A number of things push up land prices. One is investors who previously could avail of the tax free leases, another is wealthy individuals trying to minimise inheritance tax for their beneficiaries. The former was curtailed a little. The latter might also be.
Can never understand the logic where lads will take out finance to buy depreciating machinery but will not invest in appreciating assets like land. Shure if things go wrong you can always sell it again.
Well the first thing is that you can write down the cost of the machinery. The second is that the machinery might be needed and that it should justify itself. The third is that you can control when you buy a particular machine. You cannot control when the land you might like to buy will go for auction. You have to be in a position to buy it there and then.
Sure if stans cows are as profitable as he says and there are 3 people there farming I don't see why they can't make a fair stab at it.
Personally Speaking I only borrow money for property purchases. Everything else is out of cashflow. I just wait until I can afford it. In 20 years time the land will be paid for but all that will be left of the shiny machinery will be a photo.
Not necessarily always appreciating….
I'm very happy that I wasn't listening to lads here 7 years ago when I borrowed to do alot of building, would be impossible to do it at current prices and the loans are nearly paid off
Well we have more machinery than anyone in the parish, but never bought anything new and then only when I had the price of it. So still have lots of capital allowances for the tax man.
The problem with machinery finance is it will burn your repayment capacity if a suitable property purchase opportunity crops up.
I find you rarely regret the things you do. Very easy over analyse things and do nothing. The other thing is, we all must keep trying to improve things a little bit every year.
And if an opportunity dose come your way the capital allowances preserve cashflow fir the first few years sheltering repayments. And leasing is worse than personal business loans
You only ever buy if you have access to a warchest
