Would you pay 65K for your privacy?

CluelessGirl

Hey there,

I am looking to buy some land....an acre has road front coverage the rest does not. The vendor is looking for 65K + for the acre by the road which has no planning permission.

Do I buy it for my privacy or do I risk it being bought by someone else who may eventually build on it?

Is it fair to pay the price the land would be worth if it had the full planning permission or do you think the vendor is chancing his arm?

Any advice much appreciated.

Thanks in advance.

JuliusCaesar

Chancing his arm.

After all the half-built developments around the country, the CoCos are going to be looking very closely at any PP they give.

A granted PP will increase the value of the land. Only if the PP is granted, mind! Not beforehand!

Distorted

Its very expensive but its more valuable to you because of its location. Plus road frontage is often more valuable than other locations of land, particularly if near a town, because they can sometimes turn into "ransom strips" for developments later which have access problems. So yes, its overpriced but it depends how much you want it - I would consider paying that, but I'd try and get another acre thrown in which doesn't have the road frontage too!

CluelessGirl

Hey thanks for that. You are absolutely right.

But what if the land is purchased by a property developer and in 5-10 years they get the go ahead to build.....my own home will be destroyed......as previously there was PP being sought for a development before the recession although it was not granted at that time.

Its an awful situation to be in.

CluelessGirl

Distorted wrote: »

Its very expensive but its more valuable to you because of its location. Plus road frontage is often more valuable than other locations of land, particularly if near a town, because they can sometimes turn into "ransom strips" for developments later which have access problems. So yes, its overpriced but it depends how much you want it - I would consider paying that, but I'd try and get another acre thrown in which doesn't have the road frontage too!

Thanks for that....yeah there are a few acres behind that again that he has offered me at a reasonable price.....but as you say there could be problems in the future if a developer comes in and buys the whole lot.....so maybe for peace of mind and complete privacy for acres around the house maybe its worth it in the long run.......food for thought.....many thanks for that.

jdivision

What developer do you think will come along and buy it. They're all going bust!! You're the only buyer - have a look at hte stats on the fall in land prices.

jmayo

JuliusCaesar wrote: »

Chancing his arm.

After all the half-built developments around the country, the CoCos are going to be looking very closely at any PP they give.

A granted PP will increase the value of the land. Only if the PP is granted, mind! Not beforehand!

Actually you are wrong I believe.
What I have heard is that obtaining planning has gotten easier.
It has to do with fact the CoCos are desperate for money.
There are fewer applications, no devleopments any more so council is more likely to look favourably on any planning applications.

CluelessGirl wrote: »

Hey thanks for that. You are absolutely right.

But what if the land is purchased by a property developer and in 5-10 years they get the go ahead to build.....my own home will be destroyed......as previously there was PP being sought for a development before the recession although it was not granted at that time.

Its an awful situation to be in.

I wouldn't worry about anyone building in the next 5 or 10 years.
Longer term maybe, but there is a glut of housing, the country's economy is in the crapper and most of the smaller developers are screwed.

If you are going to buy look for as much acreage as possible as that way it makes harder for development to succeed in the future if the space is limited or awkward.

Do not pay that amount for agri land that has no planning.
Also if there is only 1 acre available they can't buld that much anyway.

BTW is it farmer or non farmer that is selling ?

triskellion

The first thing you want to do is check if the lands are zoned first. If not, then see where the boundary of the zoned lands are and when the next development plan is up for display. It's normally every 6 years with review conducted every 3.
If the land is not zoned, is miles from zoning & services and the development plan was only adopted this year then you're a handy 12 years from anything happening.
The only other chance of building is rural / one off local needs housing. See if the lands are in a clar area because this may be an indicator that planners may be inclined to grant to non locals. Also check the sight lines of the lands. There are minimum standards set for road safety for exits and if the lands don't comply, planning will not be granted.
My gut tells me this is your only real concern. Builders of schemes of houses are a LONG way off buying lands.
If you're very concerned, look at retaining the services of a qualified valuer / engineer / planning consultant to check on the site potential.
Chances are the site is agri will be for a long long time. If so, and the owner wants non agri prices, let them keep it and you enjoy the pastoral environs.

CluelessGirl

Hi all,

Many thanks for all your advice.

It probably is crazy paying that amount for an acre with no PP.

So I will have to think hard about it over the next few weeks and come up with a proposal for the farmer.

If anyone can think of an angle to approach it at I would appreciate it......haven't a clue in relation to bargaining for land!

Thanks in advance.

The_Honeybadger

CluelessGirl wrote: »

Hi all,

Many thanks for all your advice.

It probably is crazy paying that amount for an acre with no PP.

So I will have to think hard about it over the next few weeks and come up with a proposal for the farmer.

If anyone can think of an angle to approach it at I would appreciate it......haven't a clue in relation to bargaining for land!

Thanks in advance.

Why not agree a price with the farmer, pay a small deposit and stipulate that the balance be payable on receipt of planning permission, with the land returning to the farmer if you are unable to get PP and he keeps your deposit, not sure if you can apply for planning if you don't own the land, so maybe the farmer would have to submit in his own name and transfer ownership to you after PP is granted, either way I wouldn't pay 65,000 for a site without knowing whether I can get planning or not, too risky as it's hard to tell what way planning laws will go in future. Where I live it has been very difficult to get planning even when you own the land and work locally, the process could take you quite some time.

Victor

I can't quite understand your post, do you already have a house there? Set back from the Road? Why not just invest in some trees?

Talk to your solicitior before you sign or pay for anything.

mickeyk wrote: »

not sure if you can apply for planning if you don't own the land

You can, the owner merely gives a letter consenting to the application.

The_Conductor

Whats the zoning on the land?