Purchasing a property with acreage
You may be sitting on acres of land but the big question is what do you do with it? Here are some ideas to consider…
If you have paddocks and fields, then using the land for an equestrian business might make sense. Even if you don’t know anything about horses, you could rent the field to horse-owners. Build stabling and a dry standing area, install running water and a covered area and you could charge even more.
Of course, you need to make sure that the land is suitable for horses, so no poisonous plants, adequate fencing and it will need to be kept clean from manure at regular intervals. If you’re thinking bigger, then a livery service would be the next logical step up.
If you’ve never farmed before, suddenly inheriting hundreds of acres can be a daunting prospect. Look for tenant farmers who can work the land for you – even better if your land has good tenant farmers already farming there when you take over, negotiate renewing their lease. If you are buying land to farm yourself, consider starting small and specialising in one area, such as organic farming, chickens or rearing pigs.
It is possible to licence land for shooting parties and clubs. There are legal restrictions that you would need to iron out – help and information can be found on the British Association for Shooting & Conservation website.
If your land includes a large amount of woodland, then you will have your own supply of firewood for the winter months.
However, to sell wood for profit is not that straightforward and requires a bit more thought and research. More and more people are investing in areas of UK woodland as a way of making money as well as for personal enjoyment; if you want to make money from your woodland – check out the Small Woodland Owners’ Group for more info.
It’s the stuff of dreams – a grand house with acreage and its own lake – who could ask for more? Properties such as these are rare and come at a premium – that’s because fishing rights are highly sought-after and enthusiasts will pay dearly for a decent spot of fishing. It’s not all plain sailing though – the fish – and lakes – will need to be managed properly to ensure fish levels are well-maintained and you will need to check out all the legals before offering fishing on your land.