I’d be interested in establishing the worth of the following property if anyone can assist?
I’d be particularly interested in finding out what the value of 9 acres of spruce forestry ready to harvest is worth. I was discussing this with a friend yesterday and he was off the opinion that Coillte make stage payments when the forestry is being set and growing and then a final payment when being harvested…I don’t know how true or false this is but if true there may not be too much money coming to the new owner.
Also, to any agricultural heads out there, would the land pretty much be a waste land after being harvested, friend reckons so but not really sure how good an authority he is on the subject
The ad is somewhat short on detail to say the least but it would seem to me that perhaps the house would need to be gutted and a considerable sum spent to bring it up to modern standards. Obviously a complete Engineers report is an absolute must. To note also that asking price has dropped from €160K to €140K and now to €99K, all since April of this year.
All constructive input much appreciated and thanks in advance
depends on the land quality prior to sowing the trees. If one were to want to keep it for living off like you seem to be suggesting, it might be worthwhile considering thinning it and keeping at least some of it as a wood lot. As it was probably marginal land to start with it is probably not great for agricultural use. Converting to agricultural use requires a lot of energy inputs, since the trunks and root systems will still be in place after harvesting. All the same they could be a source of fuel in the future. As a rule the most fertile land in the world is to be found where forests once were, as their composting leaves and supported ecosystems enrich the soil. However spruce forests are not a good example of this process.
Caoimhin would be able to advise on the forestry. It’s hard to say if it’s worth the money without knowing if there are other reasons why you might like to live there. I think these kind of properties could be a good investment but with mixed forestry and a cottage or house that might have a value as a holiday letting. This isn’t it, but it might have value for someone for other reasons.
Thanks for yer input folks.
To answer boomshackala it certainly would not have being high quality land before the trees were set so converting it to agricultural land would not be an avenue I’d consider exploring. However, replanting would be an option I’d consider if that is open.
To Coles2, I would be buying the house to live in, a place to call home, after bringing it up to the living standards I’d be happy with, whatever that may entail. It would have absolutely no potential as a holiday home as there are no real noteworthy tourist attractions in the immediate locality. Also, I assume Caoimhin is the resident forestry guru on thepropertypin?
I was on the phone to my cousin this evening and as he is a farm worker who sometimes reads the Farmers Journal I decided to pick his brains. He told me what generally happens is that Coillte makes stage payments and then pays a final premium when harvesting so the buyer may not be in for too much money if this is the case. He also mentioned that water could be a severe problem for years to come if the house had its own supply. The trees would have used up any water supply there was and it could take many years for this to rejuvenate itself.
Its all a bit academic at the moment. Will be ringing the Agent when I get a chance during the week to get more detail so will keep ye posted
Caoimhin is a consultant in the area If I Recall
maybe see the boards.ie forestry forum also