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advice on what to do with a plot of land

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  • 22-10-2008 9:11pm
    #1
    timberland
    Closed Accounts Posts: 87 ✭✭


    hi im new here and dont know if this is the right place to post this but im after inheriting a plot of land (about half an acre or so).The problem is i dont have the money to build on it just yet and was wondering does anybody have any advice on what to do with it as i dont want to sell it. its located in the countryside and was wondering is there any way of maybe making money from it without building ? thanks in advance


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    #2
    rediguana
    Closed Accounts Posts: 1,312 ✭✭✭rediguana


    Develop a graveyard on it. All those pensioners will have to be buried somewhere, and the headstones pay for themselves.


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    #3
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    I don't think you're going to see a profit on a half acre, unless you can possilby rent it out, but I don't know who would go to the trouble of renting a half acre. What would you like to do with it, it would be a grand veg plot or plant a few fruit bushes if you won't be doing anything with it for a few years and won't be around to tend it very often.


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    #4
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    yea but thats "dead" money:D. i was looking for some kinda income


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    #5
    rediguana
    Closed Accounts Posts: 1,312 ✭✭✭rediguana


    But seriously...

    If you don't want to sell...

    ... and you can't build yet...

    ... all you're left with is growing stuff, grazing livestock. Would the land support this type of enterprise and do you have the time / inclination to do it? Maybe you could lease it to someone who would like to do these things, even if you don't want to yourself. Tell them not to waste their time planting oaks though, as you'll be putting a bungaloe there before 2012.


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    #6
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    timberland wrote: »
    yea but thats "dead" money:D. i was looking for some kinda income

    I know you said you were new to this, but do you know how little money there is in farming, especially a plot of a half acre? Its not going to earn you money, period. Sell it if you want an income.


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    #7
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    brianthebard wrote: »
    I don't think you're going to see a profit on a half acre, unless you can possilby rent it out, but I don't know who would go to the trouble of renting a half acre. What would you like to do with it, it would be a grand veg plot or plant a few fruit bushes if you won't be doing anything with it for a few years and won't be around to tend it very often.
    thats a good idea alright. would the forestry board be interested in renting it for planting trees???


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    #8
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    If you have twenty years or so to give it to them, I don't know though.


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    #9
    rediguana
    Closed Accounts Posts: 1,312 ✭✭✭rediguana


    I'm pretty sure Coillte will give you cash for planting trees. But surely not as much as you'd earn selling it altogether. Where's the land?


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    #10
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    brianthebard wrote: »
    I know you said you were new to this, but do you know how little money there is in farming, especially a plot of a half acre? Its not going to earn you money, period. Sell it if you want an income.
    i wouldnt be relying on the money or anything but just something at all as its not being put to any use now at the moment.


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    #11
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    rediguana wrote: »
    I'm pretty sure Coillte will give you cash for planting trees. But surely not as much as you'd earn selling it altogether. Where's the land?
    would you have any idea how much? i wouldnt like to sell it at all as its part of a family home. its in the back arse of limerick and i live in dublin


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    #12
    rediguana
    Closed Accounts Posts: 1,312 ✭✭✭rediguana


    timberland wrote: »
    would you have any idea how much? i wouldnt like to sell it at all as its part of a family home. its in the back arse of limerick and i live in dublin


    It's a thorny one, with the family and that. Is it possible to square it with them so that you could sell it? You've to get on with your own business, whatever that is. It doesn't sound like a goldmine, so I'd take whatever I can get for it, from whichever source, and run.

    I don't know what Coillte pays. I know I never see any tree farmers with yachts and private jets though.


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    #13
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    rediguana wrote: »
    It's a thorny one, with the family and that. Is it possible to square it with them so that you could sell it? You've to get on with your own business, whatever that is. It doesn't sound like a goldmine, so I'd take whatever I can get for it, from whichever source, and run.

    I don't know what Coillte pays. I know I never see any tree farmers with yachts and private jets though.
    :D:D im not lookin to make a few million on it or anything im just lookin to do something with the land so it doesnt get wasted. and possibly make a quid every once in a while lol


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    #14
    fastrac
    Registered Users Posts: 718 ✭✭✭fastrac


    Christmas trees might suit you


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    #15
    [Deleted User]
    Posts: 5,121 ✭✭✭ [Deleted User]


    If you are planning to build on it in the future why not try and get planning permission now, then borrow against the site value to buy in Dublin or something. It would save you money by reducing your loan to value.

    Also give some thought to the layout you would like for your garden in 10 or 15 years as if you plant trees now they would be a decent size when you move in.


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    #16
    il gatto
    Registered Users Posts: 3,021 ✭✭✭il gatto


    I'd do as above and have a nice mature site with nice trees like oak, ash and beech around it. Keep them fenced off and give the family in question the "present" of a donkey or pony to keep it from growing wild.


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    #17
    timberland
    Closed Accounts Posts: 87 ✭✭timberland


    i was thinking of the christmas trees but i know nothing about where to start or what kinda money to expect. do you know anyone who has done it before?


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    #18
    meathstevie
    Registered Users Posts: 4,772 ✭✭✭meathstevie


    You'll have to start with buying saplings, maybe a bit of fertiliser and a good strimmer because grass grows quicker than christmas trees.
    If you'd put in christmas trees plant them fairly well spaced out because you don't want to end up with irregularly shaped dodgy looking trees that aren't worth nothing.


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