How to value paddock land attached to property we want to buy?

GDB2222

If the neighbour thinks he can get planning permission, he might still tell the sellers that he wants the land for fruit farming. Buy it!

HampshireH

Fruit farming today......... nice little pair of semi detached houses with driveway 4-10 new residents & barking dogs etc in 4 years time.

I'd buy it

Davesnave

Frankly, £20k is cheap and you would be a mug not to buy at that price, The 'marriage value' of your intended property + a potential pony paddock is going to be raised by more than £20k, unless it's in the Outer Hebrides or somewhere similar.

AdrianC

Yes, the value of an acre of random paddock in your area might be £7k.

You don't want a random paddock somewhere in your general area, though. You want THAT field. So general paddock prices are irrelevant. It's simply down to whether you and the vendor can agree a price that's mutually acceptable.

You have a floor price - £20k. They won't sell it to you for less than that. So - do you want to pay at least £20k for it?

What A.N.Other-Buyer might say they want to do with it tomorrow is irrelevant. Even if they do use it for "fruit farming", to get any decent return they're going to want polytunnels on there. And they'll probably be spraying them. And what if that turns out not to be profitable in a few years...?

trex227

Around here agricultural land is around £10k an acre. However small pieces of land that can have horses on tend to go for a lot more than this. Family members have a 2 acre paddock that’s been valued at £50k.

-taff

If you discover the land is worth 10k as whatever type of land it is, do you imagine the owner of that land, who has already had an offer of 20k,will say 'oh go on then, have it for 10k less and I will do myself out of 10k' ?

The land is worth what the owner wants to sell it for. Offer more than they have already been offered and you might get it. Offer less, you definitely won't.

lincroft1710

oldbikebloke said:

The current owner will be able to say what rates they pay on it, see if the council will confirm that (but they may not due to data protection).

Land used for agricultural, garden, plant nursery. forestry and grazing purposes are all exempt from rating. Only land used for commercial purposes such as storage, parking, sales display etc, is rateable and like all rated premises, the rateable values are in the public domain.