Selling your garden for housing pro's and con's.

jackyann

OP - I know the area a bit, you don't say how big the plot is, or how much you trust the developer.
I am also aware that the area needs to do quite a lot of building to provide new homes

Could I make another suggestion? I am aware that this may sound like too much trouble for you and your dad, but just to put another point of view.

Look on plot finder and plot search - they will give you an idea of how much is being paid for similar plots.
Look on the council website for information about planning permission, and consider contacting the planning department for more information about plots like these (good idea to get this advice independently of the developer)
Having done those 2 things, consider the following:

1. Apply for preliminary planning permission for a dwelling that you know will get permission (because you've already found out about it)

Advertise the plot for sale through local estate agents, plot finder / plot search. Insist on meeting every person who comes to view. That way you may get very nice new neighbours.

2. Think about contacting a local builder to build a retirement-type bungalow for your dad on the plot. Banks are usually very helpful, assuming that the cost can be covered from the house sale. Again, you get to choose the neighbours!

But of course, I understand that you and your dad may much prefer a bird in the hand.

anotheruser

Or get him to sell up and move into rented?
Too many people these days are all about "me me me" and "how much money can I make" from houses and land; but don't give a thought to anyone else.

Selling would net him a lot of money, and moving in to rented means there's much less responsibility on the building and such.

elsien

A street I lived on, some of the houses with huge gardens looked into the same thing. The difficulty was it was all of them or nothing. One person held out for more money, the deal kept falling through, and each new developer came back with a lower offer. It got as far as planning permission going in, then the downturn hit and sever years later the home owners are still no further forward.
Maybe your dad needs to look at if he can do a deal on his own, or if it's also reliant on other people selling as well.

Doozergirl

Garden development doesn't impact much on house values. Only temporarily in the time before they are built where people don't know what to expect. Otherwise house values are mainly based on square footage of the building. That doesn't change.

Overlooking, ditto. If you didn't know the house before it had the new neighbour, it won't affect you.

Perhaps the only downside is if more money could be made gaining the planning permission yourselves. Obviously that depends on access to the plot.

Boohoo

jackyann the garden area is about 500 sqm and the land the developer is after going on the gardens already built on ar about 375 sqm. As i said before he is not wanting sell his house and move nor have a home built for him in the back garden.
As for the meeting he had the rep said that they would pay all the fees and say he got 40k they would pay £1500 up front and then the rest paid 1 year to the day they started groundwork. They were not keen on paying all up front.
As for the planning application that has gone in now and as my dad is still undecided about the garden can he still object to the new homes being built and then it gets turned down they wont want his garden then or if he objects and they get the green light to build and then buy his land he said he doesn't want to look like a nimby but i told him not to worry.

jackyann

Sorry, I must have missed that bit.

I can see that your dad has got to take a gamble around planning permission.

I would re-iterate that it may be worthwhile financially to find out how planning applications are viewed and see what plots are selling for. If you apply for and get planning permission you will get lot more money for the plot. Whether that effort seems worthwhile for you / your dad is up to you.

Boohoo

I did tell him about looking at planning permission but he doesn't want to spend money on doing that.
Him and a few neighbours who used to live in the houses before they were sold to HA looked into doing that about 6 years ago but after talking to the local planning rep at the time it would not be worth doing as it would be refused. About a year after that the neighbours sold up and the houses were bought by the developer and HA.
As for looking at building plots for sale i have seen a few but they range from £30000 to £75000 so going on the 40k is i think about correct for a 375 sqm plot.

Furts

Boohoo wrote: »

I did tell him about looking at planning permission but he doesn't want to spend money on doing that.
Him and a few neighbours who used to live in the houses before they were sold to HA looked into doing that about 6 years ago but after talking to the local planning rep at the time it would not be worth doing as it would be refused. About a year after that the neighbours sold up and the houses were bought by the developer and HA.
As for looking at building plots for sale i have seen a few but they range from £30000 to £75000 so going on the 40k is i think about correct for a 375 sqm plot.

But 375 sqm is a big plot by modern standards and could get two homes on it if circumstances are suitable. In effect, you are selling two plots so this suggests the price is poor.