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Buying in an areas where a new development is coming across the road
guptam
Posts: 5 Forumite
Hi,
I'am planning to buy a property 1970 property 3 bed detached (nearing 290 k) in a street where there is a planning permission for Baratt homes to build 87 new homes. The area is 1 street away. In this scenario what are the benefits and disbenefits for me if a new development is planned
1) My house price will it increase or decrease .
2) Any other impacts.
Should i leave this property?.
I'am planning to buy a property 1970 property 3 bed detached (nearing 290 k) in a street where there is a planning permission for Baratt homes to build 87 new homes. The area is 1 street away. In this scenario what are the benefits and disbenefits for me if a new development is planned
1) My house price will it increase or decrease .
2) Any other impacts.
Should i leave this property?.
0
Comments
-
I would of thought house prices drop a little, lots of noise and mess for the next 2-3 years maybe...
Hard to find nice areas where these square tiny box homes are not going up...0 -
Check the council's website and see if you can find any detailed planning documents submitted by Barratt Home, then find out what exactly Barratt is planning to do in the surrounding areas/streets. Developers are usually asked to contribute to local communities in various ways, they may build parks, improve roads or bring in noise or more traffic.. These may or may not benefit your property.
For 87 new homes, I would imagine it'll be a few blocks of apartments with some sort of courtyard and maybe a couple shops. You should learn a lot more details from Barratt's planning documents.0
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