What is garden for building on worth?

michaels

It is posible that if 8 houses in our street gave up the ends of their back gardens a developer could build 2 pairs of semis. Supposing the sale value would be 1.4m (350k x 4) and the build costs I'm guessing 500k how much of the 'profit' of 900k would the builder expect to pay each of the 8 houses for their part of the plot?

mlz1413

is this a homework question?? ie if a man travelled x miles and a car travelled x miles the the arrival times are y and z what is the difference in mph....

Land is worth what it is worth; a surveyor will be able to tell you the current value, a builder will give you as little as possible and the home owner will want as much as possible.

But getting 8 people to agree to sell of some of their garden so they have the back view of 4 houses, the noise from 4 houses occupants, the traffic to the new houses and lose resale value as well as sunlight in their own homes - now that's a much bigger task.

michaels

Thanks - just thought there might be a typical markup a developer would expect - say it was 25% then 1.4m = 1.25x(building+land cost), building cost = 500k so land cost = 620k ie about 80k for each of the 8 homes involved.

Would this be worth giving up 25 feet of a 125 foot garden and having the end wall of a semi at the end of the new shorter garden? No idea.

mlz1413 wrote: »

is this a homework question?? ie if a man travelled x miles and a car travelled x miles the the arrival times are y and z what is the difference in mph....

Land is worth what it is worth; a surveyor will be able to tell you the current value, a builder will give you as little as possible and the home owner will want as much as possible.

But getting 8 people to agree to sell of some of their garden so they have the back view of 4 houses, the noise from 4 houses occupants, the traffic to the new houses and lose resale value as well as sunlight in their own homes - now that's a much bigger task.

silvercar

Is this the place you've just exchanged on?

Developers generally work on one third land, one third building costs and one third profit.

michaels

Yes it is - main aim is just to have a big extension and live there but if it turned out that there was money to be made from from building on the garden then it might be tempting to cash in and move again...