Sense to make dollars
Reality “cheque” will allow lifestyle block owners to weigh up the life-income balance?
The decision to purchase a lifestyle block is generally based largely on quality of life factors and a desire to escape urban confines. However for some, there is the aspiration to make an income off that piece of land.
As with any business venture – hobby or otherwise – a good dose of pragmatism is required if the expectation of income generation is to live up to reality.
Conditional on the terrain, location, size and existing infrastructure on the lifestyle block, it is possible to turn a dollar from the land. Bayleys’ national country manager Simon Anderson – who has a background in rural finance and banking – says it is important to formulate a realistic business plan before embarking on any income-generating project on a lifestyle block.
“Many people dream of making money off their lifestyle block and there are numerous examples of enterprising Kiwis doing just that,” he says.
“However, for others, it may make more sense for them to maintain a job away from the land so that they can enjoy their slice of New Zealand peace-and-quiet without feeling that they are entirely dependent on that land to support their way of life.
“I salute those who manage to combine lifestyle block living with financial reward as it does require a sound head for business, committed investment and some hard yards to make a successful go of things.”
Country headed to the backblocks to talk to some of those profiting from their lifestyle properties.
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