Property With Land
Lots of us dream of getting away from it all and having our own place in the countryside to possibly run a farm or just to enjoy the peace and quiet that the rural landscape offers. One benefit of an escape to the country is that there are more properties available with land which can allow you to start farming or enjoy a neighbour-free space that you’ve always desired.
However another advantage to owning land is that it can be a great source of additional income to you. With the value of English farmland trebling in the past ten years (source: The Guardian) there is money to be made and you don’t necessarily need to have hundreds of acres to generate income.
Ideas for an acre or two
If for example you have a paddock with your property you can make money renting it out to people who want grazing land for horses or cattle.
Another low maintenance way of creating money from your land is to plant an orchard. These have proven to be popular over the past few years as there are grants available for planting certain types of trees.
If you’re lucky enough to have your property in a stunning location with a great scenic appeal you could explore the possibility of using your land for highly lucrative special occasions such as weddings, birthdays and corporate retreats.
Large scale income sources
If you have a property which comes with a significant amount of land then farming it should be considered. You can either do it yourself but if that doesn’t sound like your cup of tea then letting out the land to tenant farmers or to a contractor to farm the land is an option. Arable land is a better choice than land for livestock as it is easier to manage and has proven to be better for capital growth meaning it represents a good way to get substantial returns.
It’s not just the land that should be looked at, as outbuildings could be potential sources of income if you convert them into rental properties which could be part of a small B&B business. Or they could be turned into stabling which would increase the price you could charge for grazing horses.
For more information and advice about finding a property with land to suit your needs please speak to your nearest George F White office who will be happy to help.
s.18 of the Landlord & Tenant Act: why do you need to be aware of it?
With BREXIT on the horizon and with no certainty as to what impact it may have upon the econo... Read More
Residential Sales: 40% increase in sales despite national decline
The Residential Agency team in George F. White Alnwick, have experienced an increase of 40% i... Read More