franky
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| posted on 3/7/12 at 05:18 PM |
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small piece of land value....
Can't quite get round the cost of this.
The house behind ours has a strip of garden at the end, 18-19ft deep and 41 foot wide(68-69sq m). Our house the other side has a about 100sq m of
garden. They don't 'love' that part of their garden, we offered £2.5k for it, the reaction was like i'd been poking vinegar
sticks in his balls. He want's 5K min
how can I work out a value? I'm guessing its value is its value to me. They've always been asked if they'd sell that bit, for 15
years they've said no, they're thinking of moving so it may be my only chance.
At the minute the rear garden is a little on the small side for the house.
A sensible investment? Its hard to work out the best thing to do as we've our solicitors costs/fencing/leveling and grassing the patch too.
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Wadders
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| posted on 3/7/12 at 05:46 PM |
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I don't think you can put a value on land so small, and i doubt in your case it would add value to your property, although it might help sell it
if you did eventually move on.
The value is what it's worth to you while you live there, and what the seller will accept.
If he wants 5k minimum, then thats what you will have to pay unfortunately.
Al.
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mookaloid
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| posted on 3/7/12 at 05:52 PM |
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There's a 2m wide strip next to my garden that I'd quite like to buy from a farmer who wouldn't even miss it - he's not
interested at a sensible price and even refers to it as the "ransom strip"
"That thing you're thinking - it wont be that."
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franky
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| posted on 3/7/12 at 05:54 PM |
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quote:
Originally posted by Wadders
I don't think you can put a value on land so small, and i doubt in your case it would add value to your property, although it might help sell it
if you did eventually move on.
The value is what it's worth to you while you live there, and what the seller will accept.
If he wants 5k minimum, then thats what you will have to pay unfortunately.
Al.
thats what I mean by investment, I will not add a ££££ value but I'm 100% it'll increase the saleability of the house. Also give me a
proper tree to build a tree house on
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SteveWalker
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| posted on 3/7/12 at 05:58 PM |
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If I was looking at buying your house, I'm fairly sure that an exta 68 square metres of garden would be worth 5K to me (you say it is a small
garden and this extra land would be sufficient for a good workshop or shed, which could make the difference between me buying or not). Similarly, if
the extra land gives you storage or work space sufficient that you are happy and there's no pressure to move to a bigger place, it's well
worth it.
It all depends whether not having that land or not is a problem really. If it is, then 5K isn't such a great sum for the benefits it can bring.
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franky
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| posted on 3/7/12 at 06:05 PM |
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Well with the garden being 40ft by about 35 at the minute its about 68% bigger.
I've already got a good size garage etc..... I just need convincing its not a ridiculous sum.
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jacko
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| posted on 3/7/12 at 06:05 PM |
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About 3 years ago my son was offerd a bit of land behind his house about the same size and the owner wanted £5.000
if this helps
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rodgling
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| posted on 3/7/12 at 06:05 PM |
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quote:
Originally posted by frankyThey've always been asked if they'd sell that bit, for 15 years they've said no,
they're thinking of moving so it may be my only chance.
If they do move, it's possible the new neighbours might be more keen. Also they may feel that selling will hurt the value / saleability of their
house, so maybe they're reluctant for that reason. Tricky really, at the end of the day if they won't budge from £5k then you can either
pay or take a chance on future neighbours being more amenable. I don't think that's a very strong chance though.
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kenton
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| posted on 3/7/12 at 06:08 PM |
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We sold a strip at the end of a field to the neighbour, it was approx 12" wide by 60". He was happy to pay the 10K + all legal costs as
the extra land allowed for his drive to go down the back of his garden not through it. So its what its worth to you not a price per Msq.
Kenton
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Confused but excited.
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| posted on 3/7/12 at 06:48 PM |
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£2K/sq.ft. He must have been desperate.
Tell them about the bent treacle edges!
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ian locostzx9rc2
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| posted on 3/7/12 at 07:45 PM |
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I would say 5k seems a good price for that amount of land and it would add at lease 5k to the value of your property.
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theprisioner
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| posted on 3/7/12 at 07:47 PM |
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Lawyers
And how much are the lawyers fees? and who is paying for the other party fees.
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matt_gsxr
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| posted on 3/7/12 at 08:34 PM |
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I bought some land from a neighbour.
To make things run smoothly I offered to pay for his legal costs (up to a max of £500) as well as my legal costs (£400) and the costs for reinstating
the boundary (fence). I did all the legwork on the drawings and such.
We went back and forward on the amount of land/cost over a couple of meetings but came to an agreement that we were both happy with.
In my case he was moving and was a competent businessman, which helped make things happen.
I am very pleased with how it all worked out as our garden is much nicer now.
Work out (maybe ask an estate agent) how much value this might add to your property, and accept that your neighbour will want his fair share of this
increase in value.
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Stott
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| posted on 3/7/12 at 08:58 PM |
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In my opinion that's a large chunk of land for 5K
Nothings cheap in property matters and 68sq m is not an inconsiderable size
My actual house size is 8m x 8m (64sqm) and I'm sitting in the corner of it now, looking at it and I know that if I had the chance to increase
my garden size by that amount for 5k I'd be on beans on toast for the forseeable saving for it
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franky
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| posted on 3/7/12 at 11:15 PM |
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fees are about £350... so it seems like its a fair price. Just need to find the cash!?!
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Peteff
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| posted on 4/7/12 at 08:21 AM |
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quote:
Originally posted by mookaloid
There's a 2m wide strip next to my garden that I'd quite like to buy from a farmer who wouldn't even miss it - he's not
interested at a sensible price and even refers to it as the "ransom strip"
That's not what he calls it, it is the proper name for a strip between two properties. Read the garden law website there are so eye openers on
there.
yours, Pete
I went into the RSPCA office the other day. It was so small you could hardly swing a cat in there.
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loggyboy
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| posted on 4/7/12 at 08:30 AM |
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quote:
Originally posted by mookaloid
There's a 2m wide strip next to my garden that I'd quite like to buy from a farmer who wouldn't even miss it - he's not
interested at a sensible price and even refers to it as the "ransom strip"
Usually a ransoms strip refers to to a strip of land that can give access to land with possible future potential for development. Whilst worth very
little on its own, the land that it can give access to can often be worth a hell of a lot.
Mistral Motorsport
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