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Price per sq metre of back-yard
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Bakewell54
Posts: 46 Forumite
Can anyone provide a helpful comment as to how the value of a yard can be objectively calculated please? The situation is that I want to arrive at a valuation of an area of yard adjacent to my property which may be for sale and I think that there may be a regional resource somewhere for working this out. Sensible replies appreciated thank you.
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I don't think it is that scientific.
If your back yard is very small then it may be that buying a bit more wil l increase the value of your house - so that increased value would be the price. If you already have a reasonable sized back area then adding a bit might not add much to value. If it reduced the value of the other property then possibly that loss could be the figure.
If the extra area allows you space to park a car off a rear access or some other advantage the house wouldn't otherwise have like that, again it would add value to the house and that extra would be the figure.
If it isn't going to make much difference to the value of either property then it will be to pay the other person't legal costs plus a few hundred pounds (unless it is in Central London or Sandbanks!).RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Sensible reply - it just doesn't work like that, sorry....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
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It certainly doesn't work like that.
I'm currently in the position of owning some land which could give extension space and access to several neighbours.
If one of these neighbours made an offer based on the average cost of garden land, I would politely decline to enter negotiations with them. That figure, whatever it is, is irrelevant. In a free market the land is worth the highest figure that someone is willing to pay, and in the case of adding significant value to property or opening-up possibilities for development, that could be a substantial amount. In an urban situation, with a number of neighbours who might compete for the land, this is especially true.
As with all property-buying decisions, you need to decide what the plot is worth to you.0
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