esox
Active Member
- Joined
- May 15, 2003
- Messages
- 727
I`ve been toying with the idea of buying some land for `recreational purposes` - one acre would be enough.
Grazing/paddock/pasture, that sort of thing.
An acre around here is about 40K+.
However, there is for sale locally two/three fields totalling some 40 acres (far too much for what i require but what the heck) for 50K and marketed as being suitable as an `agricultural opportunity`.
It`s leasehold on a peppercorn rent on the remainder of a 1000 year lease.
What`s the catch, why so cheap?
I don`t know anything about buying land, is being the leaseholder on such a long lease just a secure as owning outright or could something sinister cause me grief in the future?
Am i missing something basic here?
Yes there`s an overage clause but i`m not looking at this being an investment, am i likely to get my money back in 15 years time?
Grazing/paddock/pasture, that sort of thing.
An acre around here is about 40K+.
However, there is for sale locally two/three fields totalling some 40 acres (far too much for what i require but what the heck) for 50K and marketed as being suitable as an `agricultural opportunity`.
It`s leasehold on a peppercorn rent on the remainder of a 1000 year lease.
What`s the catch, why so cheap?
I don`t know anything about buying land, is being the leaseholder on such a long lease just a secure as owning outright or could something sinister cause me grief in the future?
Am i missing something basic here?
Yes there`s an overage clause but i`m not looking at this being an investment, am i likely to get my money back in 15 years time?