Samstag, 29. Oktober 2011

What's an allotment really worth?

After suggesting something along might be potentially possible back in 2008, the owners of our the land where we have our allotment have sent out letters offering the lease holders the chance to buy their plots.

Give that my allotment is 220 sqm, it is quick to see they are asking for:
  1. 750.00 € for measuring the plot, 
  2. 10.00€/sqm * 220 sqm = 2,200.00 € for the land, and
  3. legal fees (around150.00 €)
giving a total cost of around 3,100.00 €.  The question is, is that a bargain, a rip-off or about right?  The allotment is in a scenic rural setting on a small hill with around 30 other allotments.  There is no running water and no electricity.  The soil is very fertile and the land definitely can not be built on.  I have worked hard to get the weeds out (to a certain extent), built a shed with a lovely schleppdach (roof extension) and even put in a small raised bed and started work on a brick cold frame. 

The current annual rent is 25.00 € so it might seem better to stay as a tenant for the next 124 years.  The problem lies in the text explaining that owners will sell allotments to people not renting already if the people renting don't want to buy.  So you have to buy the allotment or hang on as a tenant until somebody else buys it instead.

It's a interesting question.  What would you pay to own your allotment?

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