The current asking price for this 14ha block is $230,000. I have already called the seller (not being sold through an agent) to discuss a few details. This was more in the interests of ascertaining whether he had a timeline by which he was hoping to sell, which he advised he hasn't.
There were several details brought up though and issues with the property which would require much effort. This isn't unexpected but forewarned is forearmed.
1) The property has a bit of a gorse problem. He advised that he had been working on it but hadn't managed to fully get it down yet. Not impossible, bit of hard yakka, maybe some goats?
2) Ground is quite rocky in the lower cleared area. This means it has good drainage (good for animals) but would potentially be a difficult proposition for crops. The higher paddocks (marked in purple) have some drainage issues so would need to be worked on.
Now, the idea regarding expectations of how this would work sharing such a property with another group of people breaks down thusly in my mind:
1) The total cost of the land, any fees and initial setup (such as getting attached to the grid) would be shared by all parties.
2) The section marked in pink would be divided equally and would be where housing/accommodation would be built as it allows for a single entry point to the property for services (such as power).
3) The effort required to maintain the land would be shared between all parties taking in to consideration personal needs (in my case, I am working 5 days/week in Wellington and would therefore only be putting effort in on evenings and weekends).
4) The pink section is the only bit that is truly divided. The rest of the property is completely shared between the parties - divided we fall, united we stand?
Our personal budget for a mortgage we can maintain is $200k-250k. Is anyone else up to downsizing, moving to the country and becoming self sufficient?
