An interesting conundrum in buying a property with my head or my heart.

[BennyV]

Crow did you make a decision?

 

[Crow]

Hello Benny in short no, I have not made decision. If I buy the place I will regret it and and if I don't I regret it. You could say its Hobson's choice. Ya damned if you do dammed if you do not. In my heart I would by it in heart beat. my head is screaming are you nuts. I have good friend who owns 100 properties his answer was NO liability. My cousin in Wales an Accountant who could buy it. Shook his head and said it a black hole for money as investment. its only good if you live there as principle place of residence.

This property needs ongoing maintenance and upkeep. if I was to live there it would great. But In reality I am living on the over side of world with family commitments. I do not want to take 24 hour flight just to mow the lawn. I am getting too old to deal with cattle class flights 2000 return. but 24 hours sitting cramped seats made for midgets with no leg room is debilitating and painful. Your ass goes numb in first 8 hours of flying. by 16 hours you back legs and neck are in pain from flying. By 24 hours you hope the plane crashes so you do not have feel the pain anymore in economy. I fly business class 16000 dollars return x by family of four 64000 return. So expensive just to go see the place. So I do not want to buy a property to sit empty either.

Having children much later in life I have my children to consider. I have no intention of moving them now from where I am. So the place is never going to be my principle place of residence. So if I bought it from the heart it would sit empty and go to rack and ruins tying up capital. Gardens and trees do not maintain themselves. I have holiday lets in Wales with little maintenance need are run on my behalf as holiday let by holiday letting management company. Yet do not be fooled I still get taxed twice on my investment by two respective governments.. My tax liabilities are complex already even when retired.

For me for it to work I would have move there or develop into a business. Reality after looking at my health and age and the needs of my family, it is just not practical. If I was younger single and with no commitments. I would buy the place tomorrow.the irony was when I was younger I could never afford to buy the property anyway. But like I said I have family commitments to consider. In the end that is the deal breaker.

Crow

 

[Crow]

Raggedy Old Crow gone through life with the Devil may care attitude and worked his way out of messes he had gotten himself into. Some times the heart goes against common sense. I had made an offer for the property.

However there are other parties interested. So we see what happens.

Crow

 

[robertk]

Some times the heart goes against common sense.

And sometimes that’s a good thing. I hope everything works in your favor, regardless of how it turns out.

 

[russau]

Your reasoning is understood ! Sometimes life just gets in the way of the dreams we have ,as it has happened to me , many times !! Your story has brought us along with you in your quest , and I for one have also enjoyed this trip with you ! THANKS FOR THE TAG A LONG !

 

[pepperj]

Raggedy Old Crow gone through life with the Devil may care attitude and worked his way out of messes he had gotten himself into. Some times the heart goes against common sense. I had made an offer for the property.

However there are other parties interest. So we see what happens.

Crow

It seems that the battle of the heart/common sense plays with many pirates Crow.
It doesn't really matter if it's a macro/micro in the financial aspect.
Back about 17 yrs ago we saw a boat that was called a Real Ship (the make) 61 footer.

We did our survey due diligence down in Jupiter FL. Sea trials, at a lovely cost of $10K.
We were going to live abound, do the system from FL. to Lake Ontario. Then realized that the tub couldn't be lifted out on this side for maintenance. Gross tonnage was around 92K.
We put in an offer, they countered, we had a reality check-we woke up.
Probably one of those best heart lost out decisions.
A class A motorcoach was another heart loss.
Now we still pinch ourselves in the " Aren't we glad we didn't do that".😁
Owning property is obtainable, keeping it viable is another also.
Yes hiring the right team to keep it fresh is an option.
At least my family history doesn't have a need to have that history back in my portfolio of assets.

Best of luck in the purchase offer, and when it's all over the right decision will be evident.

 

[bottlebum]

Sure is some beautiful country.

 

[AstralDruid]

Interesting dilemma...
In recent years we had 'family land' issues,, old farm house and land handed down ,, and of course everyone wanted a part.. I stood back and didn't get involved. So it was eventually sold and a few silly investments made with the proceeds, leading to nothing ultimately. Another elderly member of the same clan left his 'family land' to basically a complete stranger. I know the lands of which i speak, grew up around them and heard all the stories etc... The point i am attempting to make is, that in my view, the land is still there, who 'owns it' is of little importance and the land itself is unaware of the supposed owners. We attach ourselves to things and areas but in reality it is only to appease our ego and sense of 'belonging' , we all do it to varying degrees.. I tend to lean away from such .
We have a saying back home
"What is right for you will not pass you by"
AstralDruid

 

[WoodsDigger]

You know most people are lucky to have one property in their life time. I have been fortunate in life. My dear old Welsh mum's father as young man lost a family farm in Rural Wales during WW1 when he was away fighting in WW1 and never forgave his older brother for not watching their father my great grandfather on my mothers fathers side. They had been sheep farmers in 1900 temperance died in childbirth leaving my great grandfather with pile of children and young baby look after. The baby was adopted out. However he hit booze and went down hill. The family farm had been in the family since 1588.

Well the story goes as my late mother tells it while her father was away at war her grandfather took on house keeper in later years. her uncle was supposed to watch over the family estate. took off and did his own thing. in mean time this housekeeper got my great grandfather suffering from the effect of alcoholism to change the will with the family farm putting it into the house keepers name. When my grandfather came back from WW1 he discovered the family had been duded out the family inheritance. So it was always sore point with in the family. My mother grew up on an another family a small holding but nothing compared to what they lost. But always recalled the bitterness of the loss. My fathers side family was from Ireland sheep farmers also. they had lost there lands also. In ironic twist of fate I had bought that property in Ireland dating back to 1800. That had EU carbon credits for having pine plantations on them and farming leased out to other farms so it pays it way.

There was historical connection to the land that made a deep rooted cultural attachment to the land and yet as generation past we have moved on to live in different countries. Today none of family or descendants have no emotional connection to property for over 100 years. Yet today the property has been offered for sale. Well only part of it. The main farm land has been incorporated into surrounding farms. The farm house with about 3 acres is up for sale. It is heritage listed grade 2 as it is virtual the same as it was built in 1588. it did have a modern extension in 1689. Even the stone outbuildings are protected.

Yet part of me wants my heart to buy the property as a strange sort of full circle. I own multiple properties around the world. I live on the other side of world. It will never be functioning farm again. heritage list places are always expensive to repair. And I have zero use for it. But part of me wants it knowing it even if it will probably be liability.

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It is opportunity in making that has taken over 100 years to be back in the family. None of family and descents are interested in it. Not even my kids And I am the only one wealthy enough in the family to buy the property. My other half will properly divorce me.

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There is a right of way through the property as it part of ancient pilgrims way. 200 metres up the hill is an ancient church dating back to 11th century.

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The ancient stone farm house dates back 1588. roughly 437 years old. for 310 years is was in my mother fathers family.

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The land was owned by a wealthy lord that supported the Royalist.. And my fathers family had rights as tenant farmer until the civil war. Afterwards the title became extinct became eventually property of family.

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The timber paneling dates back to English civil war. The English Civil Wars (1642-1651) significantly impacted Wales, with both the Royalist and Parliamentarian sides vying for control. Wales, largely supportive of the King, became a crucial area for recruiting and supplying the Royalist army. The conflict in Wales saw major battles like St. Fagans and Y Dalar Hir, and the war's end in Wales came with the Parliamentarian victory at St. Fagans. A family story that round heads came and hack the front door down as they was seen as supporters of royalists.

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Grand dad lived there between 1895 and 1915. When his father died in 1915 Grandad was in France. he had go Awol to come back to contest the will. But he never got the chance. His older brother who was supposed to have been handling things was inept. He never spoke ever to his older brother to his dying day. I met my grandfather only four times in his late 80's.

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I believe this was bedroom my great grand mother died in 1900. She died in child birth. My grandfather was only 5 years old at the time. his younger brother David the baby was adopted out and ended up in Australia. When years later he traveled back to Wales in 1958 to find his true family my grandfather would have nothing to with him. I never forgave him for that.

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The kitchen has been updated. in my grandfather's time they cooked everything in fireplace.

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The ancient pathways had trod by pilgrim visiting the church below built in the 11th century. The track on the right-hand side leads to the farm.

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The church has virtual has always been open.

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It was I believe built by the Normans. Some of my ancestors are buried in the churchyard.The tall headstone is Norman Lord who owned the land

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inside the church is drawing of a skeleton on wall dating back 14th century Wales experienced a devastating plague, the Black Death, in the mid-14th century. The plague, which arrived in 1349, is believed to have spread from southern England via maritime trade routes. It caused widespread death, with estimates suggesting a quarter of the Welsh population perished within a year. The plague's impact extended beyond mortality, significantly impacting the social, economic, and religious landscape of Wales. ironic as its reminder that Death is never far away. we went through with covid 19. Ironic as Covid killed my elderly mother.

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It has beautiful carvings dating back to the 14th century.

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Through the back gate the trail leads down to the farm.

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The old pilgrims path takes you back down to the farm. I really love to detect the ancient path.

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So there you have it. An enticing tug of war between head and heart. I know secretly which one will win. even if I do not want to admit it.

Crow

Amazing read. It dawned on me my dad's grandparents were Welch immigrants in the USA. Their name was Cockle. Thanks for the share. Buy it !