neighbours building apartments, could this affect price of my property?

LegacyUser

bought new gaf, moved in bout a month ago.

it's your typical housing estate.

there's a corner site accross the road, with planning permision form, i just assumed this was for a house.

found out it's for 8 appartments! this has been in pipeline well before gaf was bought, so time to object has elapsed.

would this affect the value of my property?

Dub13

Not sure...it could push your house up,if say you paid 300k for a 3 bed semi and one bed shoe box apts are being sold across the road from you next year for 250/280k.

MorningStar

It is more likely to push the value of your property down. The increase in traffic, rental tenants, parking problems etc... It really depends on the road and the appartment block itself. Many people just wouldn't like to live near an appartment block but a baddly designed one can make nobody want to live near it.

LegacyUser

this is what i'm thinking.

should the solicitor have brought this up?

MorningStar wrote:

It is more likely to push the value of your property down. The increase in traffic, rental tenants, parking problems etc... It really depends on the road and the appartment block itself. Many people just wouldn't like to live near an appartment block but a baddly designed one can make nobody want to live near it.

babaduck

It's not really up to your solicitor - it's up to you, unless you instructed them to do a search of the surrounding area for new planning apps

MorningStar

paperclip wrote:

this is what i'm thinking.

should the solicitor have brought this up?

No you should have checked into it a solicitor only needs to check what you are buying. I'd go look at the plans a soon as possible so you know what you are dealing with. It might be fine

LegacyUser

i hope so, i'm sure the present neighbours would have objected if they were planning on something really hidious.

jhegarty

Dub13 wrote:

Not sure...it could push your house up,if say you paid 300k for a 3 bed semi and one bed shoe box apts are being sold across the road from you next year for 250/280k.

wouldn't it make it very easy for you to get PP for some one bed shoe boxes... and laugh all the way to the bank....

MorningStar

paperclip wrote:

i hope so, i'm sure the present neighbours would have objected if they were planning on something really hidious.

Popular belief would make you think neighbours objecting makes a big difference. The reality is it rarely makes that much difference if at all. It will be keeping with the local houses.

jhegarty wrote:

wouldn't it make it very easy for you to get PP for some one bed shoe boxes... and laugh all the way to the bank....

You still need the space and money to build the property it's possible but generally the rule is devalue in a housing estates

LegacyUser

there's a monstrosity in my mother's area, quiet and settled housing estate.

nearly every corner site has a house built, keeping with local house's.

except for one monstrosity, big stupid red appartment block. loads of glass, and round windows, sticks out like a sore thumb.

i just hope this is not the case with my area.

some people have a fcuking nerve.

MorningStar wrote:

Popular belief would make you think neighbours objecting makes a big difference. The reality is it rarely makes that much difference if at all. It will be keeping with the local houses.

Dub13

8 appartments is not to many....it could be done tastefully,you should have a look at the plans and see what you think.

Victor

I don't see it as a particular problem unless they will overlook your property or something similar.

It is something the solicitor should have spotted if the did a planning search.