GregMVT
Silver Member
Hi,
Here's the story. We own a little over 13 acres on the edge of a village in Vermont. Most of the land is hilly/wooded and couldn't be built on without a large investment. We have a small maple sugaring operation (about 84 gallons made last year), have 5 pigs (first time with them), a small flock of egg chickens (in a run since we border an elementary school a little to the north of us), just built a 4'x8' smokehouse (can cut hickory and some apple off our property for smoking and we love smoked bacon/ham/cheese) and grow whatever vegtables that we can in the few flat areas (put in 400+ pounds of potatos under a powerline right of way, pumpkins, tomatoes, 3 kinds of squash, etc) Some of this we sell, a lot is donated directly to the college where I work, or to employees at the college, overgrown squash goes to the chickens/pigs (they're tired of it too and won't eat it all!!) We also put in 8 apple trees in an area where I can plant more if they do well, (if the deer leave them alone!!) When I put in 100 aspargus roots last year I had to do it on my front lawn since flat land is at a premium here!! I am in my early 50's and am looking at ways I can supplement my income when I retire in 15 years or so.
The point of this thread is my next door neighbor had bought an apartment house and was approved to have 3 apartments. It originally was an old folks home that he converted. He made 6 apartments assuming that he could get a variance on the zoning but some of the other neighbors have been fighting it so he has only been able to rent out the 3 he was approved for. His problem is that he needs another 2,500 square feet of land to be able to have a fourth apartment without needing a variance. He has been after me for about 3 years to sell him some land that borders his property, roughly 86' by 30'. This is flat land that I could expand the apple orchard. I have no incentive to sell other than I could use the money to pay down the mortgage on the house, thus possibly retiring a little earlier than I am planning now.
My thoughts on this is that if he buys the land (he says he will pay for the survey and cost to change the deeds) that the value of his property will be increased a lot because of the house going from 3 apartments to 4. To me it seems that this increase in value of his property is what the sale of my land is really worth. Does this sound logical? and does anyone have an idea where I could go to find out what this value really would be?
Thanks for any help and suggestions.
Greg
Here's the story. We own a little over 13 acres on the edge of a village in Vermont. Most of the land is hilly/wooded and couldn't be built on without a large investment. We have a small maple sugaring operation (about 84 gallons made last year), have 5 pigs (first time with them), a small flock of egg chickens (in a run since we border an elementary school a little to the north of us), just built a 4'x8' smokehouse (can cut hickory and some apple off our property for smoking and we love smoked bacon/ham/cheese) and grow whatever vegtables that we can in the few flat areas (put in 400+ pounds of potatos under a powerline right of way, pumpkins, tomatoes, 3 kinds of squash, etc) Some of this we sell, a lot is donated directly to the college where I work, or to employees at the college, overgrown squash goes to the chickens/pigs (they're tired of it too and won't eat it all!!) We also put in 8 apple trees in an area where I can plant more if they do well, (if the deer leave them alone!!) When I put in 100 aspargus roots last year I had to do it on my front lawn since flat land is at a premium here!! I am in my early 50's and am looking at ways I can supplement my income when I retire in 15 years or so.
The point of this thread is my next door neighbor had bought an apartment house and was approved to have 3 apartments. It originally was an old folks home that he converted. He made 6 apartments assuming that he could get a variance on the zoning but some of the other neighbors have been fighting it so he has only been able to rent out the 3 he was approved for. His problem is that he needs another 2,500 square feet of land to be able to have a fourth apartment without needing a variance. He has been after me for about 3 years to sell him some land that borders his property, roughly 86' by 30'. This is flat land that I could expand the apple orchard. I have no incentive to sell other than I could use the money to pay down the mortgage on the house, thus possibly retiring a little earlier than I am planning now.
My thoughts on this is that if he buys the land (he says he will pay for the survey and cost to change the deeds) that the value of his property will be increased a lot because of the house going from 3 apartments to 4. To me it seems that this increase in value of his property is what the sale of my land is really worth. Does this sound logical? and does anyone have an idea where I could go to find out what this value really would be?
Thanks for any help and suggestions.
Greg
