Value of Garden Land

jammyjam

My maisonette has no usable garden area (I own the parking court at the back of the property). My neighbour is very elderly and cannot manage her garden and I am interested in buying part of it. The area I am interested in is quite small, overgrown and seperate from the rest of her garden. It measures approximately 25sqm in area. Does anyone know what would be a reasonable offer to make for this space? Oh, the area is Southampton.

paddy's_mum

The general rule about little plots like this is they are worth what you and the owner negotiate between you. There is not, so far as I know, any set of 'rules' to cover what you intend.

Has the lady been approached yet and if so, what figure is she suggesting? It is for her to suggest and you to haggle back until you both reach a figure you are happy with. Be aware that if she does agree to sell, she will almost certainly be expecting you to pick up the tab for legal advice from her solicitor to protect her position and Land Registry documentation to record the changes made.

jammyjam

No, I have not approached her yet, or rather her son who looks after her interests. I am thinking in the region of £500-£1000 plus legal fees, but we are all buying the freehold at the moment, so solicitors have deeds already and it might be an opportune time.

pania

Try taking a look at auction websites in the area and see if they have any comparable guide prices. If not give one a call, someone like clive emson or someone from yellow pages, act as the seller interested in selling, describe the land and they may give you an approximate guide price. personally if i could buy a piece of land for £500 plus legals i'd be down the bank like a shot!!

Hope this helps and hope it works out for you.
P
xx

Gorgeous_George

You may get the land for £1,000 or less but not if the lady was a relative of mine.

To be fair, she should have her house valued with and without the land. It is worth the difference (at least).

She could offer to rent you the land at a very low rent but then you may not be so interested.



GG

cattie

Another way of working out a cost is how much value & saleability having some outside space will add to your flat. I think it would add more than £1k. Talking to a couple of local estate agents would give a good indication.

jammyjam

Thanks everyone. I will consider carefully. i don't think it would make much difference to the value of her property since she would still have a maisonette with a nice size garden. It is more valuable to me because I would then have a maisonette with a small area of garden. It would probably add £2000 to the value of my place. Maybe I should start at £1000 and see where we end up! Regards Jam

Gorgeous_George

Jam

As an MSEer, I wish you well. If the land would add £2K to you property then the land is worth £2K.

Grab a bargain.



GG

thelawnet

Gorgeous_George wrote: »

Jam

As an MSEer, I wish you well. If the land would add £2K to you property then the land is worth £2K.

And if I was selling it, I'd probably want £4k for it....

Gorgeous_George

thelawnet wrote: »

And if I was selling it, I'd probably want £4k for it....

Exactly. £2K would see no benefit from the deal.



GG