Affordable plot

Tonks88

Hi new to the forum.just need help/info on selling a building plot with planning for an affordable house.im trying to fully service the plot then sell,would it be for a reduced price I.e. less 33% of market value?with the 106 agreement? many thanks

Doozergirl

Where did you get the plot from? Did you get planning? Why only affordable? What does the Decision Notice from the Local authority say on the subject? I'm presuming that is where the conditions and restrictions are laid out.

Tonks88

The plot is on our land but to get planning prob has to be affordable.thats what the planning officer said for our pre app.not sure how to find out how to sell the plot.

Doozergirl

So do you have planning permission now? It isn't a plot if it doesn't have planning permission. Do you know why it needs to be affordable? Is it because it's limited to being a local home for local people? That would be to restrict people from profiting from it and limiting it to qualified buyers.

No one can help you sell it if you don't know who you are allowed to sell it to or at what %. 33% of value of a plot is silly and I certainly would not be putting in services at that price.

Five or six sentences to try and get advice above about something quite complicated is not going to help you.

eddddy

Tonks88 wrote: »

The plot is on our land but to get planning prob has to be affordable.thats what the planning officer said for our pre app.not sure how to find out how to sell the plot.

My limited knowledge on this is...

In some areas, land that would not normally be given planning permission for building a house, can sometimes get permission for self-building an 'affordable house'.

And the planning permission would be specific to an individual who plans to self-build and live in the house (e.g. you can't get planning permission and pass it on to somebody else.)

That individual has to prove they are eligible (i.e. local connections, low income etc). And when they eventually sell the house, they can only sell to other eligible people, and at a limited price.

I don't think there are any 'rules' limiting the price that you can sell the land for - it's just that your market will be very limited, and the future selling price of the house will be limited, so the price you achieve will probably be less than it would be for a standard building plot.