[First time poster, thanks in advance]
My sister and i have just inherited, between us, approximately 10 acres of land (a field). It is based in a rural part of Wales, UK.
For decades, my grandparents had rented it out to local farmers, at a low cost, for general grazing purposes.
No application has ever been made for planning permission (as in, house building) - and we're not sure what kind of potential it might have in that regard - but there is a running water tap in one part of the field (how this is paid for, I don't yet know), and next to it a small storage shed.
The entire field was recently valued at approximately £90,000 - and my sister has made the immediate decision to sell off her half.
At face value, I'm not sure what course would be best for myself to take. Either we divide the field into two halves, and I keep 5 acres, or we sell the whole thing as one and I take the money. Apparently it may be worth proportionally more if sold in its entirety.
I was initially drawn to keeping my half of the land because I thought surely, it could prove to be more profitable in the future. But its dawning on me that I don't seem to have the time or resources to do much with it. Also, there's no telling what the British economy has in store for us over the next few years. Maybe cashing out sooner would be the best thing to do. I'm 30 and have almost no savings.
I was hoping that I may receive a little advice here, because nobody that I know in real life can offer any kind of informed opinion.
Thanks for your time, people.
Submitted November 19, 2018 at 09:59AM by charles_dimension https://ift.tt/2OSqAsq