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(Daily Mail)   Yay, I inherited a giant castle-like home and estate. Boo, I can't afford to take care of it   ( dailymail.co.uk) divider line
    More: Fail, Tabloid, Rebecca Evans, Simon Heffer, Broadsheet, Daily Mail, EDT  
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17463 clicks; posted to Main » on 20 Apr 2017 at 2:23 AM (30 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



90 Comments     (+0 »)
 
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2017-04-19 08:12:20 PM  
Live is really hard if you need to sell a piece of art for only £8 million to pay bills
 
2017-04-19 08:19:09 PM  
If you have 2,000 acres...and can't you can't keep up on the tax bills, your problem might be you own 2,000 acres.
 
2017-04-19 08:24:47 PM  
You're doing real estate wrong.
 
2017-04-19 08:24:49 PM  
Move to the US and call it a church. You'll get free money from the government soon.
 
2017-04-19 10:24:43 PM  
Bear in mind that, as I've mentioned before on Fark, in the UK property tax is not like the US. If you own a house worth £200k your annual property tax will probably be around £1200, the exact figure varies from area to area. If you own a house costing £2 million your annual tax might be £2500 a year. If your house is worth £20 million your annual tax will be..... £2500.
Your house could be worth £200 million and you'd still only pay £2500 a year. You could own Buckingham Palace and you'd pay £1337 a year, about $1700 tax. (Westminster is known for very low tax rates. Buck House in another part of the country, even another part of London, could cost twice that figure)

So owning a huge house will cost a lot in heating, maintenance, probably insurance and so on. But tax won't be a huge problem.
 
2017-04-19 11:07:40 PM  
Sell, Mortimer, sell!
 
2017-04-20 12:00:27 AM  
What a bunch of bloody wankers.
 
2017-04-20 12:51:53 AM  

Ron Vibbentrop: Bear in mind that, as I've mentioned before on Fark, in the UK property tax is not like the US. If you own a house worth £200k your annual property tax will probably be around £1200, the exact figure varies from area to area. If you own a house costing £2 million your annual tax might be £2500 a year. If your house is worth £20 million your annual tax will be..... £2500.
Your house could be worth £200 million and you'd still only pay £2500 a year. You could own Buckingham Palace and you'd pay £1337 a year, about $1700 tax. (Westminster is known for very low tax rates. Buck House in another part of the country, even another part of London, could cost twice that figure)

So owning a huge house will cost a lot in heating, maintenance, probably insurance and so on. But tax won't be a huge problem.


So they got rid of the window tax?
 
2017-04-20 01:03:37 AM  
let me know if they're taking in room mates.
 
2017-04-20 01:04:55 AM  

Ron Vibbentrop: Bear in mind that, as I've mentioned before on Fark, in the UK property tax is not like the US. If you own a house worth £200k your annual property tax will probably be around £1200, the exact figure varies from area to area. If you own a house costing £2 million your annual tax might be £2500 a year. If your house is worth £20 million your annual tax will be..... £2500.
Your house could be worth £200 million and you'd still only pay £2500 a year. You could own Buckingham Palace and you'd pay £1337 a year, about $1700 tax. (Westminster is known for very low tax rates. Buck House in another part of the country, even another part of London, could cost twice that figure)

So owning a huge house will cost a lot in heating, maintenance, probably insurance and so on. But tax won't be a huge problem.


thenewinquiry.comView Full Size
 
2017-04-20 01:32:20 AM  
I think Downton Abbey showed everyone how difficult it is to maintain a grand estate. The Earl had a title and no money so had to marry an American heiress to keep the place afloat and decades later, he lost a ton of money and the estate was threatened again until his son-in-law and heir came through with some money. But the cultural change is what really hit these places hard. Originally, the estate was the major employer in the area and it was incumbent upon the owners to provide as many jobs as possible, which is what frequently drove them to ruin. You need a huge staff to maintain an estate like that, let alone "serve" as was once customary, so when people made more money working in shops or other businesses, it became impossible to get the people needed.

I recommend watching Downton Abbey (it's on Amazon Prime -- all six seasons), just for Maggie Smith alone. She is a treasure and a hoot.
 
2017-04-20 01:38:24 AM  
img.fark.netView Full Size
 
2017-04-20 02:02:44 AM  

LordZorch: Sell, Mortimer, sell!


Yup...I personally know this. Holding on to a failing thing doesn't give you a legacy for your children...it gives your children a payment book they have to spend to pay for your funeral because you mortgaged your crap obsolete factory and land stuff for 'pride' when you could have gone out on the top of the wave with millions.
 
2017-04-20 02:07:00 AM  
RIchard says: 'People assume we must be very wealthy to live here, but this is simply not the case. We don't live in the main building, but in a three-bedroom apartment attached to it.
We don't have servants and do our own cooking and cleaning. It's not like Downton Abbey any more: there are no butlers. Those days went a long time ago. We need 60 members of staff, including seven full-time gardeners, just to keep the place going. But they don't look after us, just the main house.


If you can afford to keep 60 people on staff you're either running the worst business ever or you're making money.

Shut up.  You're not poor.
 
2017-04-20 02:31:45 AM  
Here's my family's historical home.  It has over 350 rooms.  Technically, it's worth a fortune, but it's a white elephant.  It requires massive renovation and the continued upkeep would break a wealthy person.  With these kinds of properties, finding a buyer is nearly impossible because of restrictions on what you can do to something designated a historic landmark.  No one from my family has lived in it since around WW1, I believe.  I hope to visit it someday, but I have no desire to live there.

Ok, it won't let me embed the image directly.  Too big.  So a link will have to suffice.

http://www.anglotopia.net/british-history/great-british-houses-wentwo​r​th-woodhouse-in-yorkshire/
 
2017-04-20 02:33:19 AM  
Oh boo farking hoo!! Live within your means farkheads.
 
2017-04-20 02:37:11 AM  
Owners of Grade I Newby Hall say they wear jumpers indoors to stay warm
Okay, but it beats me how wearing one of these would help:

s-media-cache-ak0.pinimg.comView Full Size
/yes, I know a jumper is a sweater in the UK.
 
2017-04-20 02:39:27 AM  
My tv is so expensive i can't afford cable or pawnshop movies. Weep for me!
 
2017-04-20 02:39:33 AM  

buckler: Owners of Grade I Newby Hall say they wear jumpers indoors to stay warm
Okay, but it beats me how wearing one of these would help:

[s-media-cache-ak0.pinimg.com image 236x358]/yes, I know a jumper is a sweater in the UK.


I dunno, I think that could warm me up. Friction, and all.
 
2017-04-20 02:39:54 AM  
The UK is a mess.
 
2017-04-20 02:40:29 AM  
CSB Time: For the recent wedding of a family member a bunch of my siblings and their spouses, kids and SOs went together to rent out an entire farmhouse built to house the kind of family it took to run a working farm before the advent of tractors. It was rather surprising to me to find that airbnb was helping keep such an estate family owned in the era of mega-corporate farming. The owning family still worked the land but there is no way they could keep a house built to comfortably house a dozen people afloat on only the profits from farming a few dozen acres.
 
2017-04-20 02:40:45 AM  

Ron Vibbentrop: Bear in mind that, as I've mentioned before on Fark, in the UK property tax is not like the US. If you own a house worth £200k your annual property tax will probably be around £1200, the exact figure varies from area to area. If you own a house costing £2 million your annual tax might be £2500 a year. If your house is worth £20 million your annual tax will be..... £2500.
Your house could be worth £200 million and you'd still only pay £2500 a year. You could own Buckingham Palace and you'd pay £1337 a year, about $1700 tax. (Westminster is known for very low tax rates. Buck House in another part of the country, even another part of London, could cost twice that figure)

So owning a huge house will cost a lot in heating, maintenance, probably insurance and so on. But tax won't be a huge problem.


That's interesting -  I had no idea.  TFA mentioned "punitive taxes" - is that just BS, or is it talking about something other than the property tax?
 
2017-04-20 02:44:42 AM  

buckler: Owners of Grade I Newby Hall say they wear jumpers indoors to stay warm
Okay, but it beats me how wearing one of these would help:

[s-media-cache-ak0.pinimg.com image 236x358]/yes, I know a jumper is a sweater in the UK.


So does the Earl of Cardigan, David Brudenell-Bruce, wear a jumper?
 
2017-04-20 02:45:38 AM  
Burn it down for the insurance money. Duh.
 
2017-04-20 02:46:11 AM  
Sell it and move into a condo, or "flat" as you will. No one cares about poor gentry problems. Get a jerb. fark, you could buy a flat and put the rest of the money from the sale in a farking trust to pay your utilities and shiat and probably live free the rest of your spoiled, pale lives.
 
2017-04-20 02:48:31 AM  
images-na.ssl-images-amazon.comView Full Size

For Aga
 
2017-04-20 02:55:16 AM  

neongoats: Sell it and move into a condo, or "flat" as you will. No one cares about poor gentry problems. Get a jerb. fark, you could buy a flat and put the rest of the money from the sale in a farking trust to pay your utilities and shiat and probably live free the rest of your spoiled, pale lives.


But then a ferriner might buy it! We can't have that! Keep British estates British! Pip pip and cheerio!

That's what the Daily Fail really thinks: but many of them risk falling into dilapidation or being sold off to foreign owners.

That's right, if you have to sell to a foreigner, you might as well let it fall into dilapidation instead.
 
2017-04-20 03:03:51 AM  
In the USA, personal or family mansions went out after 1919 when the income tax started.  The ones that survive are owned by non-profits like museums, or conservators that operate them as hotels with museums or some such.  Others fell into disrepair and were abandoned.

In the US, if one is presented with such a white elephant by inheritance or some such, the alternatives are sale, conversion or remodeling into something that can support itself like the hotel/museum example, teardown and redevelopment, or allowing the property to revert to the local government by negotiating a transfer in lieu of taxes or some such.  The salvation here is the existence of tax-free ownership as museums or municipal property.  If a building is designated as a historical monument, reasonable accommodation to remodeling can be negotiated as necessary to find a way to save the building.

In the UK, laws and taxes are different, sometimes very different.  Perhaps FARKers knowledgeable about large estate preservation could give us some successful examples of a thriving or even surviving major estate there?
 
2017-04-20 03:27:05 AM  

OgreMagi: Here's my family's historical home.  It has over 350 rooms.  Technically, it's worth a fortune, but it's a white elephant.  It requires massive renovation and the continued upkeep would break a wealthy person.  With these kinds of properties, finding a buyer is nearly impossible because of restrictions on what you can do to something designated a historic landmark.  No one from my family has lived in it since around WW1, I believe.  I hope to visit it someday, but I have no desire to live there.

Ok, it won't let me embed the image directly.  Too big.  So a link will have to suffice.

http://www.anglotopia.net/british-history/great-british-houses-wentwor​th-woodhouse-in-yorkshire/


There are generation starships on the drawing boards that aren't as big as that place.
 
2017-04-20 03:27:19 AM  
Psst... sell it.
 
2017-04-20 03:29:56 AM  

davidphogan: RIchard says: 'People assume we must be very wealthy to live here, but this is simply not the case. We don't live in the main building, but in a three-bedroom apartment attached to it.
We don't have servants and do our own cooking and cleaning. It's not like Downton Abbey any more: there are no butlers. Those days went a long time ago. We need 60 members of staff, including seven full-time gardeners, just to keep the place going. But they don't look after us, just the main house.

If you can afford to keep 60 people on staff you're either running the worst business ever or you're making money.

Shut up.  You're not poor.


What, shouldn't stately homes pay their own way like everyone else?  Turn them all into B&Bs.  I assume I'm not the first person to think of that, and that there's some prohibition on turning historically important "listed" properties into profitable enterprises, because it's better to let them slowly crumble due to lack of maintenance than to let someone "profit" from the "national heritage" by keeping them alive and kicking.
 
2017-04-20 03:42:41 AM  
Um... sell it?
 
2017-04-20 03:47:30 AM  

Coelacanth: OgreMagi: Here's my family's historical home.  It has over 350 rooms.  Technically, it's worth a fortune, but it's a white elephant.  It requires massive renovation and the continued upkeep would break a wealthy person.  With these kinds of properties, finding a buyer is nearly impossible because of restrictions on what you can do to something designated a historic landmark.  No one from my family has lived in it since around WW1, I believe.  I hope to visit it someday, but I have no desire to live there.

Ok, it won't let me embed the image directly.  Too big.  So a link will have to suffice.

http://www.anglotopia.net/british-history/great-british-houses-wentwor​th-woodhouse-in-yorkshire/

There are generation starships on the drawing boards that aren't as big as that place.


It's a monstrosity.  My distant relatives weren't just a little rich.  They were obscenely rich and showed it off by building useless crap like that building.  My branch of the family wasn't so well off.  We had to work for a living.
 
2017-04-20 03:57:30 AM  

mdb1407: Um... sell it?


That is a rather dismissive attitude towards the responsibilities of others.
 
2017-04-20 04:08:03 AM  
I remember back in college we had a party at this woman's house in Sonoma. It was a huge white mansion perched on top of a hill overlooking vineyards. Kind of looked like a half size White House.
I was chatting with the host and she said she had gotten it in a divorce but couldn't afford to do anything with it. It was like a millstone around her neck.
Back then she probably could have sold it for a million or so. Now it would be worth 15-20 million.
 
2017-04-20 04:11:24 AM  
Can't be too well off if she has to live with her dad.

img.fark.netView Full Size
 
2017-04-20 04:12:03 AM  

Harry_Seldon: mdb1407: Um... sell it?

That is a rather dismissive attitude towards the responsibilities of others.


Hard to be compassionate when their pantry has more square footage than my apartment. "My mansion has just too manyrooms. I can only afford to keep 60 help."
 
2017-04-20 04:12:59 AM  

tinfoil-hat maggie: Ron Vibbentrop: Bear in mind that, as I've mentioned before on Fark, in the UK property tax is not like the US. If you own a house worth £200k your annual property tax will probably be around £1200, the exact figure varies from area to area. If you own a house costing £2 million your annual tax might be £2500 a year. If your house is worth £20 million your annual tax will be..... £2500.
Your house could be worth £200 million and you'd still only pay £2500 a year. You could own Buckingham Palace and you'd pay £1337 a year, about $1700 tax. (Westminster is known for very low tax rates. Buck House in another part of the country, even another part of London, could cost twice that figure)

So owning a huge house will cost a lot in heating, maintenance, probably insurance and so on. But tax won't be a huge problem.

So they got rid of the window tax?


Now it's charged per computer.

Unless you've got a Mac, they avoid paying tax.
 
2017-04-20 04:21:01 AM  
img.fark.netView Full Size
 
2017-04-20 04:35:46 AM  

mr0x: Can't be too well off if she has to live with her dad.

[img.fark.net image 634x440]


Her dad is two years older than her?
She looks great for 57, in fairness.
 
2017-04-20 04:46:30 AM  

ScottRiqui: That's interesting - I had no idea. TFA mentioned "punitive taxes" - is that just BS, or is it talking about something other than the property tax?


Inheritance taxes are potentially enormous. Even Chatsworth House, seat of the vastly wealthy Cavendish family, isn't owned by the current duke, instead it's held in trust, open to the public, and the family pay market rent for their use of the apartments after the previous duke inherited vast tax bills. Many estates were broken up, passed into trust, or gifted to the nation to avoid the combination of soaring labour costs post WW1 and very high inheritance taxes.

The reference to income taxes is pretty much just Daily Mail bollocks. Unless they have the world's worst accountant, the estate will operate as a limited company with the running costs being paid by the corporate entity, not by the occupiers.
 
2017-04-20 04:49:45 AM  
My arms are super tired from carrying around this giant sack filled with gold!
 
2017-04-20 04:53:55 AM  
Knows that feel:

img.fark.netView Full Size



img.fark.netView Full Size
 
2017-04-20 04:57:38 AM  

mdb1407: Harry_Seldon: mdb1407: Um... sell it?

That is a rather dismissive attitude towards the responsibilities of others.

Hard to be compassionate when their pantry has more square footage than my apartment. "My mansion has just too manyrooms. I can only afford to keep 60 help."


Someone in the article mentioned that they had to drive a ten year old Jaguar. My heart weeps for them that they can't afford a new expensive car and must tolerate an older expensive car.
 
2017-04-20 05:10:45 AM  

Cormee: mr0x: Can't be too well off if she has to live with her dad.

[img.fark.net image 634x440]

Her dad is two years older than her?
She looks great for 57, in fairness.


It's the hair.  If she stopped dying her hair she'd look the same age as her husband.
 
2017-04-20 05:39:00 AM  
img.fark.netView Full Size

or....

img.fark.netView Full Size
 
2017-04-20 06:08:52 AM  

sardonicobserver: In the USA, personal or family mansions went out after 1919 when the income tax started.  The ones that survive are owned by non-profits like museums, or conservators that operate them as hotels with museums or some such.  Others fell into disrepair and were abandoned.

In the US, if one is presented with such a white elephant by inheritance or some such, the alternatives are sale, conversion or remodeling into something that can support itself like the hotel/museum example, teardown and redevelopment, or allowing the property to revert to the local government by negotiating a transfer in lieu of taxes or some such.  The salvation here is the existence of tax-free ownership as museums or municipal property.  If a building is designated as a historical monument, reasonable accommodation to remodeling can be negotiated as necessary to find a way to save the building.

In the UK, laws and taxes are different, sometimes very different.  Perhaps FARKers knowledgeable about large estate preservation could give us some successful examples of a thriving or even surviving major estate there?


What are you defining as a mansion? Because, well, I'm not sure why you'd write that first paragraph.
 
2017-04-20 06:27:14 AM  
This is where I remind myself how lucky I am to have a house to live in, a warm bed to sleep in, and enough food to eat. This means I'm doing much better than a lot of people in the world. It's so easy to envy people who have more, and then forget to be grateful for what I do have.
 
2017-04-20 06:37:27 AM  

OgreMagi: Here's my family's historical home.  It has over 350 rooms.  Technically, it's worth a fortune, but it's a white elephant.  It requires massive renovation and the continued upkeep would break a wealthy person.  With these kinds of properties, finding a buyer is nearly impossible because of restrictions on what you can do to something designated a historic landmark.  No one from my family has lived in it since around WW1, I believe.  I hope to visit it someday, but I have no desire to live there.

Ok, it won't let me embed the image directly.  Too big.  So a link will have to suffice.

http://www.anglotopia.net/british-history/great-british-houses-wentwor​th-woodhouse-in-yorkshire/


FTFL:
"The open cast mining went almost all the way up to the building and did considerable damage to the foundations, damage being dealt with to this day. "

Holy crap, there's an open coal mine all the way up to the building.
 
2017-04-20 06:59:08 AM  
Options:
Convert building into apartments (flats, to you)
Open a B&B
Turn into year round haunted house
Sell
Burn
Bequeath to someone you hate
 
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