What matters more, the land or the property?

What matters more, the land or the property?

Buying property with land West Country Properties

If buying a house isn’t hard enough, buying a smallholding or farm can be even more daunting when it comes to knowing what you want.

You’ll no doubt have already pictured the type of property you’d like to live in and the land that comes with it, but which is more important?

Here’s a few key points to help you decide…

Land

Keeping livestock? Growing produce? No matter what it is you’re going to be doing on your smallholding if high quality land is needed to make it a success then this should be at the very top of your priority list.

This is particularly important if the land is going to be your main source of income going forward. Many families and couples will move to the South West and maintain other sources of income in a trade in which they’re already operating. If this isn’t you then the last thing you want is to be uprooting later down the line due to poor ground conditions having ended up in what you wanted to be the forever-home with the wrong land.

Remember, in many places across the Westcountry, you’ll have to pay a premium for land; make sure you work out how much you need to make your venture a reality. Just like buying a house, you don’t want to end up lumbered with a five bedroom property when there’s only two of you!

Space

Seeking a better life for your family in the countryside? Perhaps you’re hoping to start your own family later down the line? Having said that the land you buy is important, we also understand that no matter what your circumstances, you’re wanting to call this home, not just now but in the future. Weigh up where you’d like to be further down the line and address this in the amount of space you move into.

Property

From large, five-bedroom detached farmhouses to smaller three-bedroom bungalows, smallholdings can come in all shapes and sizes.

Ultimately the type of property will depend on your budget, the purpose of the farm/smallholding and the amount of space you need. If you’re hoping to buy a smallholding to run alongside your day job, then the likelihood is the property will be more important than the land. Equally, if the land is a priority then your focus may be less so on the property.

So where do your priorities lay? Have you discussed them?

Price

The price you pay for a property will also be affected by the location. For example, a four-bedroom house with 32 acres of pastureland near Dartmoor will set you back in the region of half a million, whilst a four-bedroom property with 10 acres of land and sea views in Cornwall will leave you with little change out of £1million.

Decide what is more important to you, both in the short and long term, before signing on the dotted line.

The best of both worlds

More land, smaller property? Larger property, less land? Why compromise, when you could have both?

Here at West Country Dream we can find your perfect property with our Land and Property Search service. For more information, call Helen on 07816 514667 or complete our enquiry form here.

New year, new start in the West Country?

New year, new start in the West Country?

Buying property with land West Country Life West Country Properties

Whether you’re considering buying a farm or a smallholding, a common question that frequently crops up is ‘when is the best time to invest’?

With a new year, often comes a new start and here at West Country Dream we’ve been taking a look at why 2016 is the best time to invest in property in Devon and Cornwall.

Stamp duty tax on second homes

Looking at buying a smallholding or farm in the South West, but don’t want to part from your beloved home in the city?

Time is of the essence if you want to buy a second home or buy-to-let property without paying additional Stamp Duty taxes.

Last November the Government announced a new 3% surcharge will apply to each stamp duty band on any additional properties costing more than £40,000. The new rate comes into effect from April and will impact all second home or buy-to-let properties.

Therefore, if you’re considering buying a farm or smallholding this year, as the adage goes; there’s no time like the present, so buy now to save yourself thousands of pounds on extra taxes!

Take a look at the table below for a full break down on the tax rate increase:

Property value

Standard rate

Second home rate (April 2016)

Up to £125,000

0%

3%

£125 – £250,000

2%

5%

£250,000 – £925,000

5%

8%

£925,000 to £1.5m

10%

13%

Over £1.5m

12%

15%

Land prices

Over the years more and more people have realised the benefits of owning a farm or smallholding. From leading a healthier lifestyle to being your own boss, the hike in farm purchases has been reflected in the price of land, which has been climbing since 2005.

In particular, farmland has increased dramatically over the last five years, with figures showing a 52.8% surge in the price per acre from 2010 to 2015! The increase has been good news for people who own land, doubling or in some cases tripling the value of their farms, but it has meant higher prices for those looking to buy.

However, there are signs that prices will begin to stabilise over the next year, making it a prime time to buy that perfect property in the West Country!

Swap that city house for a smallholding in the country

Always dreamed of a fresh start in the country, where your children can play outdoors freely in the security of your own large garden? If the answer is yes, now’s the time to swap that city house for a safe-haven in the West Country.

If there’s one region where prices are guaranteed to increase, it’s London, and if you’re raising a family in the city, the chances are they will struggle to get on the property ladder. Extend your search to the South West and you increase the selection of properties available for the same amount in the city.

For a three bedroom terraced property on the outskirts of London priced at £600,000, you can buy a six bedroom detached property with five acres of land, outbuildings and stunning views in the heart of West Devon.

Looking for a view of the sea? A four-bedroom house on the seafront at Rock in Cornwall will easily set you back in excess of £2 million, but expand your search to just 13 miles up the coast to Tintagel and you could snap up a six bedroom house with outbuildings for less than £500,000!

We can help you find your West Country Dream!

Wanting to take that leap from city life to live a more laid-back lifestyle in the countryside or start-up a smallholding?

Now is the time to sit down and consider where you want to live, what type of property you want, what you want it for and more importantly, how much do you have to spend?

Having difficulty finding time to plan? Let West Country Dream do it for you. Get in touch with West Country Dream on 07816 514667 or visit our contact page.

Land of opportunity

Land of opportunity

Buying property with land Farming and agriculture

As I watch the evening news only to hear that the West Country is currently un-commutable by train due to the relentless weather taking its toll on the Great Western Railway line and despite all the right noises coming out of Westminster regarding the positive economic turn for the country, sometimes it’s difficult to see tangible positive proof of this when living in a rural community, with the ongoing day to day rising living costs of food, both human and animal as well as diesel and petrol.

So, it was rather pleasing to read a recent article in the Farmers Weekly reporting an 11% rise in the average price of English farmland during 2013 to a record £6,882 per acre according to Knight Frank’s Farmland Index and even more cheering, the fact that farmland has increased in value by 210% over the past ten years and is only marginally behind the 223% change in the price of gold. So although we may feel cut off at the moment I look out at the beautiful Dartmoor view with a reminder of the saying ‘there’s gold in them there hills’ well at least a hint of positivity anyway for the land and farm market in the year ahead.