price of land to extend my garden a bit?
Discussion
Hi everyone,
I have some disused land at the bottom of my garden and am talking to the owner ( a developer )
about buying a bit to extend my garden, we are talking about 35 feet long, and probably about the same width.
They have agreed in principle to consider selling to me, but have asked for an offer, I know
less than nothing about land prices, so can anybody help or pass on their experience with buying small plots of land please?
the land is pretty awkward to access in terms of developing, which I hope will lessen its value.
thanks . . . straker
I have some disused land at the bottom of my garden and am talking to the owner ( a developer )
about buying a bit to extend my garden, we are talking about 35 feet long, and probably about the same width.
They have agreed in principle to consider selling to me, but have asked for an offer, I know
less than nothing about land prices, so can anybody help or pass on their experience with buying small plots of land please?
the land is pretty awkward to access in terms of developing, which I hope will lessen its value.
thanks . . . straker
My in-laws bought around 75x75 ft of land at the end of their garden a couple of years ago (no planning permission). Owner originally wanted £10k, they finally got it for £3.5k. This included a shed and summer house full of stuff (powertools etc) that have since been sold on, reducing the cost further.
Land like this is worth what someone is prepared to pay for it. I found it pretty much impossible to get a valuation of what it might be worth for them.
Land like this is worth what someone is prepared to pay for it. I found it pretty much impossible to get a valuation of what it might be worth for them.
straker said:
I should of said this is in Sheffield, 20k is a bit high
how were the negotiations to get land for £1? I'm guessing you paid their legal stuff too?
No, I didn't have to pay their legal costs, although my own conveyancing costs were out of all proportion to the purchase price.how were the negotiations to get land for £1? I'm guessing you paid their legal stuff too?
The £1 was just a nominal charge to allow them to dispose of the land to settle a long running dispute (far too complicated to get into here) - they didn't actually want it and it would be worthless to anyone else.
I suppose in your case it will be a bit different. From what you say, it's possible that other neighbours might well be interested in it which might increase it's perceived value. Ultimately though, as already mentioned, it's only worth what someone will pay for it. There is nothing to lose with starting with a very low offer.
surveyor said:
I would not go down this route.
Consider how much value will be added to your house, and how much loss to his scheme. If he has planning consent this could result in him amending the scheme.
Why? Having the land valuations could strengthen, or weaken his case. He doesn't have to forward those to the developer?Consider how much value will be added to your house, and how much loss to his scheme. If he has planning consent this could result in him amending the scheme.
surveyor said:
Because they'll either say what he wants or not. If they say what the wants the developer will not like them and will in any case ignore them.
A slightly cynical view, but I understand what you are saying. On the other hand the valuation might say "5k" , the OP might be willing to pay 5k, and the developer accepts 5k, and the has an informed piece of valuation that he never things "was I ripped off?"McHaggis said:
surveyor said:
Because they'll either say what he wants or not. If they say what the wants the developer will not like them and will in any case ignore them.
A slightly cynical view, but I understand what you are saying. On the other hand the valuation might say "5k" , the OP might be willing to pay 5k, and the developer accepts 5k, and the has an informed piece of valuation that he never things "was I ripped off?"kooky guy said:
straker said:
I should of said this is in Sheffield, 20k is a bit high
how were the negotiations to get land for £1? I'm guessing you paid their legal stuff too?
No, I didn't have to pay their legal costs, although my own conveyancing costs were out of all proportion to the purchase price.how were the negotiations to get land for £1? I'm guessing you paid their legal stuff too?
The £1 was just a nominal charge to allow them to dispose of the land to settle a long running dispute (far too complicated to get into here) - they didn't actually want it and it would be worthless to anyone else.
I suppose in your case it will be a bit different. From what you say, it's possible that other neighbours might well be interested in it which might increase it's perceived value. Ultimately though, as already mentioned, it's only worth what someone will pay for it. There is nothing to lose with starting with a very low offer.
If we'd been talking 'proper' money, I would have paid up to about £5k for it. Difficult for anyone else to value other than the homeowner concerned. For us, it's doubled the size of the back garden & my son loves it as we can feed the horses in the field bordering the new bit of garden. From a 'value' point of view, it's added a lot of value to our property, directly & indirectly.
astroarcadia said:
My neighbour has their house on the market. I would love to buy an area of their garden that backs onto mine measuring approx 15m x 15m. I would jump at the chance to buy it for £20k.
In that case pop round and offer them £20k for it. If it doesnt knock £20k off the value of their house they'll probably snap your arm off!Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff