will planning add value

skintmecol

heres a question, ive a property on approx 250ft by 55 ft bit of land. you could easily fit a few houses on it. its a well sort after area about 500m from the beach. if i got plans drawn up for a few houses on the plot. would this increase the value an would it sell any quicker im finding estate agents just so usless at the moment and would like to sell in a different manner?
can any one shed any light on these questions.

thanks

Milliewilly

skintmecol wrote: »

heres a question, ive a property on approx 250ft by 55 ft bit of land. you could easily fit a few houses on it. its a well sort after area about 500m from the beach. if i got plans drawn up for a few houses on the plot. would this increase the value an would it sell any quicker im finding estate agents just so usless at the moment and would like to sell in a different manner?
can any one shed any light on these questions.

thanks

Planning permission should certainly add value if the plot is suitable but you may have missed the boat by about 2 years here.

Doozergirl

Planning permission for new houses will significantly increase the value of the land. If the present house is to be demolished it has to offset against the value of the existing house and the cost of demolition as the exisiting house loses it's value and becomes a liability.

If you're putting extra houses in the garden and keeping the existing house then you are only increasing the value above the existing value of the house. You won't have missed the boat at all, plots for self-build are always popular,especially near a beach.

But the PP is essentiall - you can't raise the value without getting the PP yourself.

Milliewilly

Doozergirl wrote: »

Planning permission for new houses will significantly increase the value of the land. If the present house is to be demolished it has to offset against the value of the existing house and the cost of demolition as the exisiting house loses it's value and becomes a liability.

If you're putting extra houses in the garden and keeping the existing house then you are only increasing the value above the existing value of the house. You won't have missed the boat at all, plots for self-build are always popular,especially near a beach.

But the PP is essentiall - you can't raise the value without getting the PP yourself.

When I said missed the boat I meant in terms of the value difference from two years ago. The plot will still be worth more with planning than a straightforward sale of the house and large garden.

Doozergirl

I personally wouldn't be able to a negative spin on dramatically increasing the value of a plot of land from today's value! As a rule of thumb, land would be worth a third of the value of the finished properties that would eventually sit upon it.

PasturesNew

When you get planning, you change who the property will be attractive to.

What is the first part of your postcode, so people can judge/give opinions that are more relevant (if they have local knowledge)?

A normal house, with a spot of PP, won't be worth more but it is likely to shift quicker. As for a demolish/development, you'd be limiting yourself to developers only, so what's the local market like for new developments sitting empty?

skintmecol

thanks all! this sounds like it could be a move.
the area is a small village right on the beach, (postcode L38 )and its pretty sort after, one road in and out etc . id be looking to get rid of the 2 bedroom bungalow that sits on this plot. and put a few houses on it ,house prices are fairly high here with this current property at 330k on the market.
it was up just before the crash at 365k. the houses are going at an average of 240 so who,ever got this plot would stand to make a few bob! the area is a real good investment.
im just really keen to get rid and move on and also have a smaller garden:)
MANY THANKS!

planning_officer

I hate to dampen spirits, but looking at a map of your postcode, I'm pretty sure your land is within the Green Belt, in which case you have absolutely no chance of getting planning permission for new dwellings (have a look at the proposals map for Formby on http://www.sefton.gov.uk/Default.aspx?page=5861).

shane42

planning_officer wrote: »

I hate to dampen spirits, but looking at a map of your postcode, I'm pretty sure your land is within the Green Belt, in which case you have absolutely no chance of getting planning permission for new dwellings (have a look at the proposals map for Formby on http://www.sefton.gov.uk/Default.aspx?page=5861).

you see the difference a professional makes as opposed to a diy er on the forum :rotfl:

tut tut diy wrecks again

Milliewilly

No - you would have thought the OP would at least have considered whether the plot was within permitted development before even asking.

skintmecol

well if it is its news to most of the village, since a fair few people have already done this. the beach side is green belt, no more houses can be built. however, a few residents in the village have done this, and also towards the train station a new group of new builds was built only a few years back?