How much value does planning add to property?

dryad_17

We had an offer accepted on a property which was marketed as having planning. Turns out the planning will have lapsed by the time we complete (due to the vendor messing us around). I'm pushing for a reduction in price, but don't know how much of a reduction to push for? I don't want to take the mick but you wouldn't pay the same for a car with a full MOT than you would for one without!
Any advice gratefully recieved!

user1977

What sort of property and what sort of planning? It doesn't necessarily add value (if it's something which is easy to get and even easier to renew).

theartfullodger

In my experience with a house, basically no difference in price, maybe more interest during the selling.

Depends probably on property & planning approval. e.g. if 3 acres of land and planning for 32 houses, big difference: but if a bungalow with approval for extension not a lot.

kinger101

I think the planning per se isn't the thing the increased the value.  More the fact that the property is on a plot suitable to extend the property considerably.

For two otherwise identical house, one that can have the side extended by 50 will likely command a higher value.

dryad_17

Thanks for your replies. It's a Victorian terrace. The Planning is for a new extension, replacing an old one, regularising an attic room and adding a roof to and replacing an existing bay window. It's in a conservation area.

sheramber

It would have been better to stick to the one thread rather than having to explain the situation,
https://forums.moneysavingexpert.com/discussion/6581881/old-extension-which-indemnity-doesnt-cover#latest

user1977

I wouldn't expect it to change the value significantly.

I mean, had you enhanced your offer in the first place because it had planning, and if so on what basis? If you had wanted to know when the consent would expire, you could (I expect) have checked that instantly on the council's website. Or to take your car analogy, you know when the last MoT was done...

400ixl

Were there objections to the planning application last time?

dryad_17

sheramber said:

It would have been better to stick to the one thread rather than having to explain the situation,
https://forums.moneysavingexpert.com/discussion/6581881/old-extension-which-indemnity-doesnt-cover#latest

Apologies, I'm new on here and it's been a very stressful day, I'll know better next time 🙏

ciderboy2009

Has the planning consent actually lapsed at the moment?

If not then you may be able to use a loophole that a neighbour used against me about 10 years ago (but check as a)things might have changed, b) I'm not an expert on planning).

The time limit is normally worded as the works must be "commenced" within X years of receiving the consent.

All the vendor needs to do is to start to dig a trench for the extension (in our case they only dug a small hole) and then the works are deemed to have commenced.

dryad_17

Thank you for all your comments, I've now had a discussion with EA and hopefully the issue has been resolved.