How to value land?

Sammysmiths

Well-known member
The land behind my house is currently up for sale (at what we think is a vastly, over-inflated price).
The land is sloped, boggy, overgrown, many large trees, a beck, and does have council environmental drainage system at the bottom of the slope.
There are approximately 10 houses overlooking, that back onto the land.
Many years ago there were 2 stables on the land, and horses were kept there. However, it is now out of control, overgrown and probably useless.
I wouldn't think building regs would be granted due to the layout, and any would-be purchaser would have some serious work to do to bring in utilities and get around the drainage problems and uneven layout. A dwelling would have to be worth millions to get over the cost of work to bring the land up to standard to build on.
Im no expert so just wondering if anyone has had any experience of buying land, and what are the various pricing influences?
All 10 houses would like to buy the land to preserve the nature and leave it as it is. But we wont pay the ransom they are currently expecting to achieve.
 
Not much help but land is worth what some one will pay. What's the difference between his and your estimates?
A land surveyor would help if you are serious, check out your more local,independent estate agents.
 
My parents recently sold a large garden they they had at the back of the house (it was massive).

They basically applied for planning permission so they could sell it with it already in place. I think they got a local auctioneer to come in and he valued it without planning permission and with planning permission. It's clearly worth far more with👍

I think it had taken the best part of 11 months from start to finish. A few design changes from architect due to moaning locals. In the end they secured a sale above what they expected with planning permission for 2 houses as part of the sale (yup it was a big garden).

I was pretty stunned as to how much they received (it defo wasn't cheap and sounds smaller than you wish to buy). The funny thing is that the builders who bought it have ripped up the designs and now start permission all over again as they want to somehow get 3 houses out of it.
 
No one has ever applied for PP as it’s still owned by our neighbour. There’s 2.7 acres of what I would call scrub land.
 
I wouldn't think building regs would be granted due to the layout, and any would-be purchaser would have some serious work to do to bring in utilities and get around the drainage problems and uneven layout. A dwelling would have to be worth millions to get over the cost of work to bring the land up to standard to build on.

Where is the land? Do you have a map?

Foul drainage can be pumped uphill, or anywhere.
Surface Water drainage would go downhill to the stream, maybe via an attenuation tank and then a hydrobrake.
Utilities for gas, water and electric could be drilled in, very easily.
 
Doesn’t the price of land jump massively if you want to make it ‘domestic’. To buy a small plot of waste scrubland on the edge of and owned by the golf course behind our house to extend our garden a short distance (10ft approx) we were quoted a small fortune.
 
Have a look on the Defra Magic Maps website first, there may be a reason planning permission has never been granted. Also have a look on the local council's housing plan. It might be on land outside it, though that sounds unlikely.
 
I never said planning permission has never been granted! it belongs to the neighbours who kept horses on it many years ago, and since then its just gone to ruin. PP has probably never been looked into.
 
Where is it?

I'm not interested in land or developing by the way, but I can tell you how much a problem the site really is, utilities wise, as all I do is solve problems getting utilities to sites :LOL:
 
Well, if it's where I think it is (on the pin I sent), then there's probably no way anyone is building on the north side of the stream where I think your houses are. It's too steep (would need some major piling for the foundations) and would need a road over a major watercourse to get to it, which is just not going to happen. The old culvert would need digging out, and re-doing, which would cost about a million alone, maybe closer to two, as it would be NWL or the EA doing it (and they would mess it up or go way over budget). Plus it's pretty much also a park, woodland, and possible flood area. So 130k land price, 600k to build 3 x 4 beds, and 2m in watercourse problems and roads. Probably nearing on 3m cost price, just to build 3 x 4 bed houses, to sell for what 400-500k each? It's probably a 1.5m loss, before a shovel goes in the ground. It would need 20 houses to even possibly be practical and there's just not the room. A developer would probably be aiming for 20%-40% profit too, on a risky project like that.

Might be different story if one of the houses to the north east was knocked down though, to make a road through, still a lot of piling though.

The utilities are no problem whatsoever though, all the service ducts could be put in to the road to the South for about 20k.
 
The land behind my house is currently up for sale (at what we think is a vastly, over-inflated price).
The land is sloped, boggy, overgrown, many large trees, a beck, and does have council environmental drainage system at the bottom of the slope.
There are approximately 10 houses overlooking, that back onto the land.
Many years ago there were 2 stables on the land, and horses were kept there. However, it is now out of control, overgrown and probably useless.
I wouldn't think building regs would be granted due to the layout, and any would-be purchaser would have some serious work to do to bring in utilities and get around the drainage problems and uneven layout. A dwelling would have to be worth millions to get over the cost of work to bring the land up to standard to build on.
Im no expert so just wondering if anyone has had any experience of buying land, and what are the various pricing influences?
All 10 houses would like to buy the land to preserve the nature and leave it as it is. But we wont pay the ransom they are currently expecting to achieve.

See if you can find a rare newt there.
 
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