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Have you recently bought a home in the countryside but you aren’t sure what to do with the land that came with it?
Here are some ideas as to what you could do and how to perhaps generate a little extra income in the process…
Benefitting nature
You might like to see how you can improve opportunities for wildlife and nature. There are both government and private grants available which currently offer financial incentives for land owners to look after and improve the environment, from planting trees and hedgerows to creating wildflower meadows, as well as a host of funding for boundary treatments.
Letting the land to a local farmer
Depending on where you are and the type of land you have, there may be a local farmer interested in using the land for grazing, mowing or growing crops. It is certainly important to have a formal agreement drawn up by a professional and there are different options depending on your circumstances:
Letting the land for horse grazing
If you are in perhaps a semi-rural area or have some existing facilities on site, one option is to let the land for horse grazing. This can be a reasonably profitable option but most horse owners are looking for well-drained land with good access, water, services and perhaps even a field shelter/stable. A formal agreement is important again, particularly to ensure a business tenancy isn’t inadvertently created.
Camping/Glamping or other diversification
This is particularly ‘on trend’ at the moment, with more and more people choosing a ‘staycation’ over a holiday abroad. There are multiple other opportunities to explore, for example renting fields for car parking if you are near the coast, or as a wedding venue, although do exercise caution around practicalities like location, land type, costs, time involved and in particular whether or not you will require planning permission to use the land in that way.
This is a summary of some of the most popular choices chosen by our clients, however each property is unique and so there may be potential uses in addition to the above.
If you would like more information or advice, call our Professional Services team on 01884 235701 or email professional.tiverton@stags.co.uk.
