Need to make money in shortest time from property

AdrianC

You say you're in a rural area. How rural? Is housing in short supply around you?

Does your area have a Neighbourhood Development Plan adopted yet, and if so, where do you sit relative to the zones identified for preferred development?

Do you really need the hassle of developing the plot yourself? (I think we know the answer to that, given your situation and reasons for moving)

I'd be investigating the planning situation, and asking the local authority for some pre-planning advice. Then, if it seems favourable, work with a local planning consultant and apply for outline permission for whatever development seems realistically achievable. Then sell the entire lot with that, without doing any work yourself to develop it. Maximum return, minimum hassle.

ProDave

At the moment you have a garden that is big enough to divide and build another house on. That is VERY different to having a house and a building plot.

For any significant value to be attached to the "plot" you need planning permission. Outline planning is all you need if you are going to sell it.

So your first step has to be submit a planning application. If you think it might be difficult a planning consultant might increase the chance of getting PP granted.

Achieve that and you can sell the existing house and plot separately, or sell the house and keep the plot to build on yourself.

Dividing off the plot will reduce the value of the existing house, but usually not by as much as the plot will be worth.

You don't need to install services to sell a plot, the builder usually does that, but it helps to know where and how you are going to connect to the services. It might well be the only way to get the services to the plot is through the garden of the existing house, in which case you need to sell the plot with a wayleave over your other land to allow them to service the plot.

ReggieA

Thank you everyone, very much. I!!!8217;m very grateful. Will keep an eye on this in case anyone posts more thoughts. Grateful for the Apple link too! Will follow that up.

ReggieA

Great. Thank you. That!!!8217;s a big help.

ReggieA

I meant, ProDave, thank you. I feel I have more to focus on now. Someone said if I am not moving for a year there is no point thinking about all this, but my point was that I do have some time to prepare for the best possible move and to gain knowledge, and possibly build/renovate or whatever. Knowing about the provision, or not, of services to the land , and a wayleave, is very helpful.

lincroft1710

ReggieA wrote: »

Someone said if I am not moving for a year there is no point thinking about all this,

I said that if you are not moving for a year there is no point in worrying about quick sales. You have time to research the best method of arranging your property so it sells for the best price, which may or may not be splitting it into 2 lots - house and possible building plot.

When someone says they want a quick sale it implies they need to sell immediately and complete as soon as possible. So it is usually either price at below market value or sell at auction.

ProDave

Another thought.

If your house is in poor condition, and the land has development potential. Then is there more potential if you demolish the existing house? i.e. knock down 1 and build 3 or 4 in it's place?

If so just get PP and sell it as a development site and forget fixing up the existing house.

teddysmum

There is the possibility that the land is unsuitable for building due to the presence or the pond and the need for drainage.

Jaymie_kate

I agree that you should get the approval of the planning dept before any construction within your area. If they allow it then it would surely add value to the property.

Keep_pedalling

teddysmum wrote: »

There is the possibility that the land is unsuitable for building due to the presence or the pond and the need for drainage.

The pond may also be home to protected species such as Great Crested Newts.