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Buying land
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Well, does this make sense for you? What happens if you get kicked out of the rental and end up owning a useless parking space?JamesMcGillESQ said:
Thank you for replying. My current property is rented. The land I am looking at is on the opposite side of the road.user1977 said:You'd also want to check whether anything in the titles might prohibit the proposed use.
Also - if you haven't bought any other property, who owns wherever you live? Would it not make more sense for them to buy the land?1 -
It makes perfect sense. We're buying the current property anyway, and even if we got left in 6 months time, having a driveway for those 6 months would be worth it for the price we agreed.user1977 said:
Well, does this make sense for you? What happens if you get kicked out of the rental and end up owning a useless parking space?JamesMcGillESQ said:
Thank you for replying. My current property is rented. The land I am looking at is on the opposite side of the road.user1977 said:You'd also want to check whether anything in the titles might prohibit the proposed use.
Also - if you haven't bought any other property, who owns wherever you live? Would it not make more sense for them to buy the land?
Given the size of the land, I'd probably look at getting planning permission for a dwelling in the future anyway so it's also potentially an investment that way. But I see what you're saying.0 -
Given your final sentence here, I suspect the current owner will realise the future potential of the land and, at the very least obtain valuations from an Estate Agent, which will reveal the potential development value and that order of magnitude will need to be realised.JamesMcGillESQ said:It makes perfect sense. We're buying the current property anyway, and even if we got left in 6 months time, having a driveway for those 6 months would be worth it for the price we agreed.
Given the size of the land, I'd probably look at getting planning permission for a dwelling in the future anyway so it's also potentially an investment that way. But I see what you're saying.0
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