Buying a square metre of land

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vector

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Having had a look at my finances it is clear that probably never be able to afford to *own* any property. But, just for personal satisfaction, I would like to buy some land, I can spend EUR 2,500. A square meter will suffice, but it must be legit* i.e. registered freehold with the property registration authority in my sole name, also it must be in Co Cork, so I can drive to admire it from time to time :)

It my budget sufficient? for the land I think it is but I'm not sure how much my solicitor would charge for such an unusual conveyancing, plus the landowner mightn't have an incentive to sell because his solicitors fees might leave little profit?

*There are websites that offer plots, but they are either on the moon! or carefully worded leaseholds that expire, and have so many terms and conditions that even if you found your plot you wouldn't be able to stick a shovel in the ground or cut the grass.
 
Would an allotment satisy you? Yes, I know it is not freehold, but you get the satisfaction of shovelling the ground, and making it productive for you.

How about buying a plot in a graveyard? No conveyancing required.
 
I think its safe to say that if you take all costs into consideration - solicitors, land registry etc. you will be in negative equity teritory pretty quick ;)
 
I live in the suburbs of Cork City. For the aforementioned €2,500 I will let you have a square metre of my back garden. PM me for details.

I have about 40 more square metres... Any other takers?
 
The_Banker said:
I live in the suburbs of Cork City. For the aforementioned €2,500 I will let you have a square metre of my back garden. PM me for details. I have about 40 more square metres... Any other takers?
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The 2500 must cover my solicitors fees (plus whatever external costs he pays)

I think if I can only afford a token patch of land it might as well be in the country side.
 
Hang on to your money. Irish land is the most expensive in Europe with even an acre of rock-filled bog going for €10,000 in Co. Mayo. If you rent the land out as pasture to a farmer, the most you're going to get is about €200 a year. You'd be lucky to get €100 for the aforementioned acre of bog and rock. You'd get a better interest rate with your local post office.

If you can stretch it, then you should apply to Affordable Housing and get yourself a site. Yesterday's Irish Examiner was reporting that you could get a site with full planning permission for a house for as little as €12,000.
No idea what the conditions are in purchasing through Affordable Housing but I think it's definitely a better bet than buying a a few square meters of land that would be conceivably worth nothing.

Failing Affordable Housing, you could probably get a really crap acre in Scotland for what you have.
By Sean O’Riordan
SITES from as low as €12,000 and family homes, from €156,000 are on offer in north Cork.

But affordable housing, it appears, may not be so desirable for some home-seekers.

Unbelievably, Cork County Council has made a public appeal for prospective home owners and those planning to build to contact the local authority.

In some cases, the knockdown prices on houses and sites are up to 32% cheaper than current market value.

The council said that while public interest in the government-backed affordable housing scheme was improving, demand was well below expectations.

Yesterday, officials in the council’s northern division appealed for prospective applicants to come forward.

They outlined the various goodies on offer.

The prices will no doubt make some hard-pressed mortgage holders green with envy.

To qualify for the scheme a single applicant’s income must not exceed €40,000 annually or, in a two-income household the principal breadwinner’s salary — multiplied by 2.5 along with the second earner’s salary— must not top €100,000.

For those that qualify, there’s plenty of houses on offer.

The council is seeking applications for 68 houses in 11 different locations in north Cork.

For example, nine houses are up for grabs in Kanturk, with a price tag of €156,000. There are 11 in the picturesque village of Bweeng at €177,000 each and 12 in Charleville, which can be snapped up for a very attractive €170,000 each.

Just down the road in Buttevant there are 14 houses at €165,000.

Meanwhile, the local authority is also making sites available under the affordable scheme.

Four sites at Cullen and five at Knocknagree are going for €15,000 each. Three at Freemount are priced at €15,400 each and three sites at Ballydesmond are the cheapest at €12,000.

Cllr Liam O’Doherty also claimed there were still 21 affordable houses not yet occupied in Mitchelstown.

“It’s amazing we haven’t more demand for them but, at least, the scheme seems to be taking off a bit,” he said.

Cllr Frank O’Flynn said there were areas in north Cork where no affordable houses had come on stream, and, as such, some communities were losing out.

He believed it was time the county council sat down with developers to discuss enhancing the number of affordable houses being built, especially as builders are suffering from the recession.

Assistant county manager Tim Lucey said the council was hoping to provide additional affordable houses at Uplands in Fermoy.

Mr Lucey added that the county council was, in the near future, also looking at providing more affordable sites.
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http://www.irishexaminer.com/irishe...m=ireland-qqqa=ireland-qqqid=60859-qqqx=1.asphttp://www.irishexaminer.com/irishe...m=ireland-qqqa=ireland-qqqid=60859-qqqx=1.asphttp://www.irishexaminer.com/irishe...m=ireland-qqqa=ireland-qqqid=60859-qqqx=1.asp
 
Ya can't beat land.

Have a look at some of the graphs in this article to see the absolute mess, oops, I mean the immense progress we've made in the last few years.

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If you're willing to travel (heard AL have some great offers!!) here a half acre in New Mexico for just $1225 (they even offer financing over 12 months!!)

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This is in England, but it is the most legit I've seen so far.and I must hand it to the landowner it a great way of having someone else pay for the planting of a forest on his land.

You own the land freehold, and even get some sort of paperwork from the UK Land Registry

although on closer inspection the freehold period seems to be about 80 years (and I thought freehold meant you owned something forever) plus there are many terms attached eg. you cannot contruct anything on the land (not even a postbox)
 
vector said:
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This is in England, but it is the most legit I've seen so far.and I must hand it to the landowner it a great way of having someone else pay for the planting of a forest on his land.

You own the land freehold, and even get some sort of paperwork from the UK Land Registry

although on closer inspection the freehold period seems to be about 80 years (and I thought freehold meant you owned something forever) plus there are many terms attached eg. you cannot contruct anything on the land (not even a postbox)
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I don't know why you would bother going to England to do this - especially to buy a 6m x 6m plot that is little bigger than a grave, and just as useless as an investment. If you buy at least 3 acres of land in Ireland, the State Forest Service will give you a grant to cover the cost of planting a commercial forest on the land. You can do the planting yourself or engage a reputable forest contractor such as Green Belt, SWS or Coillte to do it for you. You get a further grant after 4 years to cover the cost of maintenance within the first 4 year period and also get an annual premium annuity each year for 15-20 years. And all this income is tax-free.
 
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