Site Prices

fiestaman

Hi, im waiting to see a farmer about a site during the week. My problem is with the price. there has been no figures discussed until i meet him. I bought a site in JAN2008 subject to planning for €65,000 in north kilkenny. It took until AUG2008 to be told after lots of hassle that we could not get planning unless we did a special system for sokage.it was gona cost to much so we pulled out...Anyway iv asked another farmer which is the one im going to meet if he would sell and he said he would. it will be 1/4 acre and can connect to public sewarge on the road, he is going to have his figure but i have mine too. IM JUST WOUNDER IF ANYBODY ERE HAS ANY IDEA WHAT A SITE LIKE THIS MIGHT BE COSTING NOW THAT WE ARE IN RECCISSION. OR HOW MUCH WOULD YOU PAY. I DONT WANT TO GET RAMMED AS THEY SAY.

Slig

1. Don't shout
2. Like what exactly? all we have to go on is a field being sold by a farmer

archtech

The value of land at present is how much you or anyone else are willing to pay for it. Bear in mind the landowner may not be in a position that s/he has to sell it, so they are going to want to achieve what they think its worth, if however their back is to the wall so to speak and require the money they may be more willing to deal. Ask how much they want, before you suggest a price you are willing to pay

Before putting a valve "yourself" on the site ask yourself
1. do you really like the site, location etc
2. will it (possibly) accommodate your desired house (would be no harm getting the opinion of your design consultant)
3. would you be happy living there for the rest of your life

Carpenter

fiestaman wrote: »

Hi, im waiting to see a farmer about a site during the week. My problem is with the price. there has been no figures discussed until i meet him. I bought a site in JAN2008 subject to planning for €65,000 in north kilkenny. It took until AUG2008 to be told after lots of hassle that we could not get planning unless we did a special system for sokage.it was gona cost to much so we pulled out...Anyway iv asked another farmer which is the one im going to meet if he would sell and he said he would. it will be 1/4 acre and can connect to public sewarge on the road, he is going to have his figure but i have mine too. IM JUST WOUNDER IF ANYBODY ERE HAS ANY IDEA WHAT A SITE LIKE THIS MIGHT BE COSTING NOW THAT WE ARE IN RECCISSION. OR HOW MUCH WOULD YOU PAY. I DONT WANT TO GET RAMMED AS THEY SAY.

A friend off mine has 1 for sale in Carlow if you are into it beside Borris

cilldara34

I thought you had to have a least 1/2 an acre to build on

fiestaman

Carpenter wrote: »

A friend off mine has 1 for sale in Carlow if you are into it beside Borris

How much is he looking for.

Jimbo

cilldara34 wrote: »

I thought you had to have a least 1/2 an acre to build on

Only if you need a percolation area. The OP is connecting to the mains.
3/4 acre is usually required in Cork.

fiestaman

cilldara34 wrote: »

I thought you had to have a least 1/2 an acre to build on

yea if you need to put in a septic tank.

mcflowers

you may say he has a figure in his mind and that you have one too....but at the end of the day he owns the site and between capital gains tax,solicitors fee etc there comes a certain point that it would not be really viable for the farmer to sell, under pressure or not for money (which i would doubt he would be)

fiestaman

mcflowers wrote: »

you may say he has a figure in his mind and that you have one too....but at the end of the day he owns the site and between capital gains tax,solicitors fee etc there comes a certain point that it would not be really viable for the farmer to sell, under pressure or not for money (which i would doubt he would be)

mcflowers you sound like a farmer, im sick listening to farmers complaining about tax tax tax on sites. i pay tax and prsi and now a gov levy but that part of it. if a site was €50000 and tax is 1/5 then hes loosing €10000. silicitors fees maybe €1000-2000. he has €38000 for himself. would that not be good enough? how much money would you make by farming 1/4acre a year???

mcflowers

about €38000:rolleyes:

Quazzie

fiestaman wrote: »

mcflowers you sound like a farmer, im sick listening to farmers complaining about tax tax tax on sites. i pay tax and prsi and now a gov levy but that part of it. if a site was €50000 and tax is 1/5 then hes loosing €10000. silicitors fees maybe €1000-2000. he has €38000 for himself. would that not be good enough? how much money would you make by farming 1/4acre a year???

There might not be a lot to gained by keeping 1/4 acre in terms of farming but a lot/most farmers inheritted tehir farms from their parents, and most intend to pass their farms onto their children. So the farmer has to decide if he needs to sell. If he doesn't then he is probably thinking that he should make a decent wedge out of it because if he doesn't he is potentially taking that wedge from his children because although a 1/4 acre might be insignificant in overall terms, a 1/4 acre with road frontage isn't. If he doesn't need the money then he might rather not sell and for his children to sell if/when they need it. Farmers are very territorial and are always thinking of the inheritance they can pass on.


P.S I am not a farmer.

fiestaman

mcflowers wrote: »

about €38000:rolleyes:

how much do you think???

fiestaman

mcflowers wrote: »

about €38000:rolleyes:

ohh 38000 from farming it. yea you know alot alright.

muffler

Careful!!

FWIW a 3/4 acre site in south Roscommon was recently sold for €110K, but it's also in a good location!

MacTheKnife1

Deleted User wrote: »

FWIW a 3/4 acre site in south Roscommon was recently sold for €110K, but it's also in a good location!

Must be some location!!!!

Poor Uncle Tom

Sites of 1/2 acre between Clonmel and Dungarvan (most of rural Waterford & South Tipperary actually) were making €80,000, now its at €70,000. Sites of 3/4 acre were making €90,000 (reached €100,000, at a stage) now making €75,000. I know of lots for sale, even parcels of land up to 3 acres for €100,000, 6 acres for €140,000, 10 acres for €190,000 or 15 acres for €220,000, all subject to planning of course. Agricultural land is back to about €10,000 an acre.

finbarrk

It's very difficult to value a site these days as there is so little being sold to go on. Definatley renegotiate with the farmer if you really like the site. His price will have to drop maybe 25%.

Slig

2 years ago a 1 acre site next to my fathers farm sold for €200k. I tried to get my inheritance early but it was a no go:(.
He put the needs of daisy the cow before mine and gave her the field instead.

Try to get some info on similar sites around the area, thats probably what the farmer will be basing his price on.

MacTheKnife1

MacTheKnife1 wrote: »

Must be some location!!!!

Less than 10 minutes from Athlone and the M6 motorway!

fiestaman

Well got my price anyway, he wanted €120,000 for 1/4 acre. Typical farmer.

Slig

fiestaman wrote: »

Well got my price anyway, he wanted €120,000 for 1/4 acre. Typical farmer.

Be careful digging the foundations, at that price I'd be expecting to strike oil!!

fiestaman

Slig wrote: »

Be careful digging the foundations, at that price I'd be expecting to strike oil!!

haa, it surley wont be me digging them anyway.