What matters more, the land or the property?
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…
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!
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.
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?
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?