Right Wheres Fred ?

[right_freds_dead]

..ive been looking at buying a small farm in the NW.

asking 295k april 04 - no viewings.

now 270k. im offering 240k next week i think.

1/2 acre 3 bed 3 reception grade II 400 year old farmhouse with a run down barn and a couple of other outbuildings.

30yr repayment mortgage is fixed at 5.5% for ten years.

15k deposit. payments approx £1320 pcm forvever and ever.

is this financial suicide ?

remember this is the same price a 3 bed terrace would cost in the sw or se.

bad sides,. no radiators, but 2x coal fires + coal in 2 bedrooms. no planning approval for outbuildngs as dwellings (but can be fixed back to original cond). lots of land. nice village. haunted.

what should i do.?

i really am sick of holding on.

seems like good value.

doesnt it ?

[Saving For a Space Ship]

Welcome back (Follyfoot) Fred

Sorry to hear its tough hanging on, how does the farm compare with other farms for sale in the area ?

Edited December 4, 2005 by Saving For a Space Ship

[sign_of_the_times]

..ive been looking at buying a small farm in the NW.

asking 295k april 04 - no viewings.

now 270k. im offering 240k next week i think.

1/2 acre 3 bed 3 reception grade II 400 year old farmhouse with a run down barn and a couple of other outbuildings.

30yr repayment mortgage is fixed at 5.5% for ten years.

15k deposit. payments approx £1320 pcm forvever and ever.

is this financial suicide ?

remember this is the same price a 3 bed terrace would cost in the sw or se.

bad sides,. no radiators, but 2x coal fires + coal in 2 bedrooms. no planning approval for outbuildngs as dwellings (but can be fixed back to original cond). lots of land. nice village. haunted.

what should i do.?

i really am sick of holding on.

seems like good value.

doesnt it ?

sounds like a high maintenance property - can you afford the upkeep on top of the mortgage ?

[right_freds_dead]

they are sticking around the 300k mark, though they are a bit more 'updated'.

i dont know what to do on this un'.

i could hold my own in neg equity. im more worried about a recession crapping out my business a little.

maybe it could drop to 200k in a year, though i really cant see it being halfed in value.

i would not have to mve again. forget the ladder and all that. id be here till i kick the bucket if i did it probably. iw as looking at semis, but they seem ripe for a crash. at least if i get trapped in this id still be happy. - as long as i could pay it.

theres people on here paying more than that in eye watering rent.

it doesnt seem bad to me. im on better wages than the average bear round here. im on london rates in comparison, but im living in a cheaper area.

sounds like a high maintenance property - can you afford the upkeep on top of the mortgage ?

the main house if fine.new roof and damp proofing. thats in good cond, though in need of some luxuries such as central heating. im taking home £2-4k net each month.

the outbuildings are pretty chopped up, but id either fix em up as storage or knock up down and turf it.

im really excited by it all, but i wanted to get some opinion on price.

Edited December 4, 2005 by right_freds_dead

[Carabansity]

Sound wonderful. If it was within a few miles of south Leeds I would have bought it already. A Farmhouse near here would have another nought on the end!

Coal might be difficult to get hold of. Look at wood pellet boilers as an alternative.

[OnlyMe]

RFD,

Actually see some sense in going for somewhere with land (that is suitable for food production) and the flexibility provided by having spare buildings for otehr business ventures maybe, even possibly at the moment . However, not sure whether this is the time though. I have posted a number of items on farming in thelast few months, the economics is geting increadibly shaky for many at the moment what with increasing oil and fertiliser prices, decreasing subsidies and also farmers being crushed by supermerkets on price.

Check out the Newsnow Argulture section over the last month or so and you will seee what I mean.

[IPOD]

i would not have to move again. forget the ladder and all that.

That seems like a pretty compelling reason all by itself.

im on london rates in comparison, but im living in a cheaper area.

That's a good trick. How do you manage to earn London money but not live in London? E-business?

[BuyingBear]

sides,. no radiators, but 2x coal fires + coal in 2 bedrooms. no planning approval for outbuildngs as dwellings (but can be fixed back to original cond). lots of land. nice village. haunted.

So basically the British equivalent of a shack in Montana.

[right_freds_dead]

Actually see some sense in going for somewhere with land (that is suitable for food production) and the flexibility

i was thinking either stables for rent or caravan winter storage for the field.

used to grow veg so its arable i suppose. i know nothing about muddy stuff.

So basically the British equivalent of a shack in Montana

sort of. only i though more ma and pa larkin.

perfick.....

[BuyingBear]

used to grow veg so its arable i suppose. i know nothing about muddy stuff.

sort of. only i though more ma and pa larkin.

No CAP goodies then?

How about applying for permission on some agricultural buildings and magically then applying for habitable status? Any barns to convert?

[homeless]

personaly i have a major problem with the idea of paying a mortgage and especially one that size, it just scares me.but if your happy with that tied around your neck for the best years of your life then go for it.

i be buying cash then saving up more to buy cash every couple years up, if it all goes tits up i can sit it all out without a care of unemployment heck i could even fish for my dinner.

[gone west]

Why do you consider the fact that it is haunted a bad thing?

Sounds like a good deal. You know most of your outgoings for the next decade.

Before you knock down the outbuildings, be sure that you would be allowed to do that. Sometimes you have to leave or restore.

You will be missed.

[Guest muttley]

That's a good trick. How do you manage to earn London money but not live in London? E-business?

Whippet breeder?

We're not all Albert Tatlock you know!!

[BuyingBear]

That's a good trick. How do you manage to earn London money but not live in London? E-business?

They have electric up north yet?

[Carabansity]

There's a gap in the flat cap market just opening.

http://ayup.co.uk/shuttup/shuttup0-4.html

Fred...you could get some EE immigrants to rent your outbuildings and make flat caps for £3 an hour!

[Guest muttley]

Seriously though,Fred.If you can get Felicity Kendall to move in with you then go for it!

[firebug]

..ive been looking at buying a small farm in the NW.

asking 295k april 04 - no viewings.

now 270k. im offering 240k next week i think.

1/2 acre 3 bed 3 reception grade II 400 year old farmhouse with a run down barn and a couple of other outbuildings.

30yr repayment mortgage is fixed at 5.5% for ten years.

15k deposit. payments approx £1320 pcm forvever and ever.

is this financial suicide ?

remember this is the same price a 3 bed terrace would cost in the sw or se.

bad sides,. no radiators, but 2x coal fires + coal in 2 bedrooms. no planning approval for outbuildngs as dwellings (but can be fixed back to original cond). lots of land. nice village. haunted.

what should i do.?

RFD you are, as they say, between a rock and a hard place. I don't know what you should do, I would pass, but I am not you and you, (as we all know) are suffering very badly from the wait. Do what feels right in your heart of hearts but good luck whatever you decide to do!

[Elizabeth]

lots of land. nice village. haunted.

what should i do.?

i really am sick of holding on.

seems like good value.

doesnt it ?

Do you know who the ghosts are? Don't mean to be a spoilsport, but if they aren't nice ones this can bring the value down (unless you ever sell to gullible city slickers!). Either that or find a good priest of your own persuassion.

[Guest muttley]

RFD you are, as they say, between a rock and a hard place. I don't know what you should do, I would pass, but I am not you and you, (as we all know) are suffering very badly from the wait. Do what feels right in your heart of hearts but good luck whatever you decide to do!

I agree with firebug.You are not a property Pollyanna.You have read and written a lot about the market.So whatever your heart tells you,you should listen.

[right_freds_dead]

i think im going to put an offer in at 240k then.

the mortgage will be high-ish for a while, but stagflation should clear that up in 10 years. then well be paying that in low rents. maybe ? i just dont fancy paying 750pcm for a semi on an estate, when i can do this.

plus i can get some tax breaks if i use the buildings for work. plus maybe rental stables or caravan storage could shave a bit more off the costs. stables would be nice as it would attract long legged horsey types. caravan storage would bring the bullseye audience. i could grow fir trees or herbs or fancy plants. make a nursery. minging baskets. i could make the land pay towards its keep possibly.

the ghosts are supposed to be real and they had to tell me there solicitor told them. they have had groups of meduims ect in there in the past. supposed to be a good ghost called jim ? plus she started talking about 'vortexes' though i was getting dismissive by that point...

240ks a good deal eh ?

im on 40k ish being self employed.

my regular at work type previous jobs paid 20k - 28k if i have to go back to tie wearing.

my only concern is if things get really bad and i go unemployed within 5 years.

but hell. i cant live in a cave all my life.

Edited December 4, 2005 by right_freds_dead

[zorn]

..ive been looking at buying a small farm in the NW.

asking 295k april 04 - no viewings.

now 270k. im offering 240k next week i think.

1/2 acre 3 bed 3 reception grade II 400 year old farmhouse with a run down barn and a couple of other outbuildings.

1/2 acre isn't a small farm, it's a large garden. It may once have been a farm, but it looks like all the attached farmland has gone.

[libitina]

If you're offering £240k, is that your highest? How about £230k with room to move as high as £240k??

[right_freds_dead]

1/2 acre isn't a small farm, it's a large garden. It may once have been a farm, but it looks like all the attached farmland has gone.

thats true. its the last bastion of the original farm. all the other fields are now owed by the church ??

its a decent size for me. im not talking tractors ect. but possibly shotguns ?? yes...

i guess some of the fancier dr posters from surrey will have bigger gardens than this,.

i just wanted to say farm. its called 'blah blah' farm. and i hope to be lording it up within 2 months.

230k ?

i had been thinking this, but then. i dunno. you could say 220.

perhaps maybe i could look at 230. 240 i think they will take though.

[libitina]

Make them feel like they twisted your arm a bit....

[Beadbo]

Seriously though,Fred.If you can get Felicity Kendall to move in with you then go for it!

RFD, I'll be your Felicity K ...