Buying land

John_Stiles

I don't know anything about buying land. If I decided to buy some land, my objective would be to generate a modest income as well as owning something which is most likely to rise in value.

What I'd like to know is, where can I find a guide to buying land, which explains how much land costs, what kind of income one can expect from different types and sizes of land, and so on.

Does anyone have any idea and / or links?

G_M

This the sort of thing? I just put 'land investment' into Amazon....

Or check out your local library - usually lots of books on property development, land development etc etc

martindow

And steer well clear of land banking.

John_Stiles

Yes I'll check the library. I didn't think of that. But I would have thought there would be loads of information about this online.

googler

'Generate a modest income' from what?

Farming?
Allotments?
Commercial Development?
Residential Development?

You buy an unused land plot, and it won't do anything for you unless you do something to it.

Buy farmland and it can generate income, but someone needs to farm it. Is that you?

jhxmt

googler wrote: »

'Generate a modest income' from what?

Farming?
Allotments?
Commercial Development?
Residential Development?

You buy an unused land plot, and it won't do anything for you unless you do something to it.

Buy farmland and it can generate income, but someone needs to farm it. Is that you?

This. Land is, in and of itself, not an income generator - it's only as good as what you can do with it (which, incidentally, is where the horrible issues around landbanking scams came to roost!)

Don't just think of it as "buying land", think of it as "buying land to be used for X". True, you may not care what X is at the end of the day, but it's worth considering what you might want/not want it to be!

FOURCANDLES_2

To be honest i own five acres it is classed as agri land , will never be able to build on it etc , I keep a few sheep , 1 goat,chickens,ducks etc . The land has gone up in value but has stayed stagnant over the last two years reasons are my size field were bought by many in order to keep the horse on etc people struggling now to keep a horse due to cost so the land around me of my size has faltered . my area it is around 5-8k an acre all depends if it is road side has water etc etc , My 2 uncles farm 250 acres and 150 acres and they make a decent living on that however anything under 100 acres is a hobby .All depends where the land is what it is used for and what it can be used for , we cant all do a gypsy and buy a field and then build a village on it.

John_Stiles

I don't want to do anything with the land myself. I'd like to rent it to someone who wants land to do something with.

RobertoMoir

John_Stiles wrote: »

I don't want to do anything with the land myself. I'd like to rent it to someone who wants land to do something with.

Yes but you still need to be clear about how this is all going to work. If not more so in fact as a LL than an owner doing your own thing.

If you're renting to someone who's going to do something with this land and make enough money from it to pay you your rent and make it worth their while too then you're gonna need to understand the business uses the land you own can be used for in order to make sure the likely / possible profit margins are gonna allow you your return on top of someone else's viable business.

Right now your "business plan" for buying land to make income from sounds like

1) Buy Land
2) Post on MSE
3) ?????????????
4) Profit

And that just ain't gonna cut it.

RAS

John_Stiles wrote: »

I don't want to do anything with the land myself. I'd like to rent it to someone who wants land to do something with.

In which case you need to understand the whole issue round agricultural tenancies.

You could rapidly reduce the value of your asset if you allow one to happen by accident.

G_M

RobertoMoir wrote: »

Right now your "business plan" for buying land to make income from sounds like

1) Buy Land
2) Post on MSE
3) ?????????????
4) Profit

And that just ain't gonna cut it.

That's a little harsh! It's more like:

1) Post on MSE
2) Use resources sources recommended by MSEers
3) Put together business plan
4) Buy Land
5) Profit