We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Should we buy the land.......????
Comments
-
In many instances, I suspect that the down-sides for the current owner could include a loss of privacy and/or control
If the prospective owners intend to use the land for car parking, I'd be imagining the horror of someone deciding (at all hours) to fix their V8 conversion Hillman Hunter stock car myself, and wanting far more than £15k for *that* privilege!0 -
moneyistooshorttomention wrote: »So what value would be attributable then to a piece of land that could only be used as extra garden space - be it by the current owner or by anyone else.
It's literally impossible to develop it (for a variety of reasons) - eg the person wanting it could and would prevent it. Also the person wanting it couldnt use it for an extension if they wanted to.
All round - whoever has it = it literally can't be anything other than garden. The current owner isn't using it for anything.
It's a little odd that you are putting planning restrictions on land you've neither seen or understand the layout. There are many things that could be done to it that potentially impact the neighbours. The value is totally subjective. How much does the OP want it?
I like the idea of buying it and selling/renting parts to other neighbours, or perhaps protecting the area around the house, or maybe building allotment, loads of ideas. I get that it can sting paying what you perceive is 'too much' but just work out what the value is to you and if you are willing to meet their price. Rear access alone to a property can add good value.
One thing to add OP, if you do consider buying you might want to check up front if the seller will be putting any restrictive covenants in place - they may or may not impact any plans you have.0 -
Sod that, I'd be out there helping. That sounds like one interesting beast.If the prospective owners intend to use the land for car parking, I'd be imagining the horror of someone deciding (at all hours) to fix their V8 conversion Hillman Hunter stock car myself, and wanting far more than £15k for *that* privilege!0 -
moneyistooshorttomention wrote: »So what value would be attributable then to a piece of land that could only be used as extra garden space - be it by the current owner or by anyone else.
It's literally impossible to develop it (for a variety of reasons) - eg the person wanting it could and would prevent it. Also the person wanting it couldnt use it for an extension if they wanted to.
All round - whoever has it = it literally can't be anything other than garden. The current owner isn't using it for anything.
It's worth whatever someone is willing to pay for it.0 -
It doesn't matter if the current owner lives in Timbuktu and has never seen the land. It doesn't matter if all it does is cost him money in taxes. He has something you might want. What it's worth to him is what you are willing to pay for it. He wants to maximise that. It's only the value to you that needs to concern you in the transaction.
If you think it has no value to him and that means he might accept a lower offer, then make him a lower offer, by all means. But if he won't accept then whether or not he is wise to accept, or ought to accept, in your view or anyone else's, is completely immaterial. He currently owns it, and that's what it will cost.0 -
That's about it.ScorpiondeRooftrouser wrote: »If you think it has no value to him and that means he might accept a lower offer, then make him a lower offer, by all means. But if he won't accept then whether or not he is wise to accept, or ought to accept, in your view or anyone else's, is completely immaterial. He currently owns it, and that's what it will cost.
When I was ready to sell my land to the neighbours, I really wanted them to have it, but I knew what was a fair price and I'd no particular need to sell, so it was going to be that, or nothing.
Once they'd fiddled around for a year or so till they realised I wasn't going to cave-in, they met my price, but if they hadn't, I might still own it .....and as their properties have since increased in value by around £100k it would now cost more.
It costs little or nothing to hang onto a piece of land.0 -
That's about it.
When I was ready to sell my land to the neighbours, I really wanted them to have it, but I knew what was a fair price and I'd no particular need to sell, so it was going to be that, or nothing.
Once they'd fiddled around for a year or so till they realised I wasn't going to cave-in, they met my price, but if they hadn't, I might still own it .....and as their properties have since increased in value by around £100k it would now cost more.
It costs little or nothing to hang onto a piece of land.
Well - in non-monetary terms there is the fact that "hanging onto" a piece of land one doesnt actually use means:
- having to maintain it (ie deal with all those weeds that spring up the second your back is turned and will soon overwhelm it)
- keep an eye on it in case of anyone trying to pull any "adverse possession" stunts or the like
- live with conscience of depriving someone of the use of a piece of land there is no need/use for and facing their reproachful eyes every time you see them (because they know these 3 facts very well and are being very polite and chatting pleasantly and not saying anything....but that "tickertape thought" is going across their mind every time they clap eyes on the land-owner.....).
Maybe it depends on the person concerned? But I know I was brought up to mentally review my possessions etc at intervals to see whether I really needed and/or wanted them and, if I didnt, then to make sure they went to a "good home" (ie of someone else that would be glad of them). Yep....I'm a sucker for anyone hinting they want something of mine if I'm ever interested in passing it on (bar them trying to make a deliberate grab for my garden or my income...in which case heaven help 'em LOL.....)....0 -
moneyistooshorttomention wrote: »Maybe it depends on the person concerned? But I know I was brought up to mentally review my possessions etc at intervals to see whether I really needed and/or wanted them and, if I didnt, then to make sure they went to a "good home" (ie of someone else that would be glad of them)..
How has that worked out for you? Do you have loads of grateful friends and a millionaire lifestyle?0 -
Some grateful friends/acquaintances/even workmen
and very far from a "millionaire lifestyle":rotfl:...
Personally I want/plan on having Enough (no more/no less).:) I gather this is distinctly unusual LOL - but a "friendly acquaintance" was only telling me about someone this morning that took exactly that attitude (and gave away half their income - as they felt they were earning too much). Chance would be a fine thing imo - as mine is nowhere remotely near "yer standard middle class income" and I doubt it ever will be...but still...0 -
Sorry, but as usual, you're [STRIKE]waffling[/STRIKE] speculating at great length over something without being in possession of all the info.moneyistooshorttomention wrote: »Well - in non-monetary terms there is the fact that "hanging onto" a piece of land one doesnt actually use means:
- having to maintain it (ie deal with all those weeds that spring up the second your back is turned and will soon overwhelm it)
- keep an eye on it in case of anyone trying to pull any "adverse possession" stunts or the like
- live with conscience of depriving someone of the use of a piece of land there is no need/use for and facing their reproachful eyes every time you see them.
The answer is simple. Friends living at my old home would have been very glad to rent that plot as an allotment, and were waiting to see the outcome. I wouldn't have let it to them for less than 5 years, so I needed to be sure it wasn't going to sell.
Had I gone down that route, then they would still be using the land today. I guess their tenancy would be up in around 2018, when I might have offered another tenancy or looked for a sale.
You should know by now that I'm the last person to leave land idle, although I know many people do.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards