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Nick
Joined: 02 Nov 2004 Posts: 34535 Location: Hereford
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Posted: Wed Apr 12, 06 11:35 am Post subject: Value of land. |
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Let's say my house is worth �400k. I don't know if that's true, but for now, let's roll with it. I have 3 acres of field attached, and that's part of the value.
Next to me, is another field of 5 acres, that's just come up for sale, minimum offer, by sealed bid, of �15k.
If I look at this purely as a financial investment, is it going to add more than �15k to the value of my property, as it's next door, or will it add only �15k?
Will it simply make it more saleable, rather than more valuable? eg, will it suddenly put it into a bracket that, for example, makes it more useable to horse owners?
Should I buy this land, because if I don't, someone else might, and I might have a view of polytunnels/quad biking/car boot sales? There is zero possibility of using it for building on, as it has no road access, is outside the village envelope and floods.
I have uses for the land, but no need for it. I do, however, have the cash, if it makes sense. Many of you have experience of looking/buying similar size properties. What's your experience? |
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jema Downsizer Moderator
Joined: 28 Oct 2004 Posts: 28235 Location: escaped from Swindon
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Nick
Joined: 02 Nov 2004 Posts: 34535 Location: Hereford
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Penny Outskirts
Joined: 18 Sep 2005 Posts: 23385 Location: Planet, not on the....
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tahir
Joined: 28 Oct 2004 Posts: 45672 Location: Essex
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Bugs
Joined: 28 Oct 2004 Posts: 10744
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tahir
Joined: 28 Oct 2004 Posts: 45672 Location: Essex
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Nick
Joined: 02 Nov 2004 Posts: 34535 Location: Hereford
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judith
Joined: 16 Dec 2004 Posts: 22789 Location: Montgomeryshire
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Treacodactyl Downsizer Moderator
Joined: 28 Oct 2004 Posts: 25795 Location: Jumping on the bandwagon of opportunism
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Nick
Joined: 02 Nov 2004 Posts: 34535 Location: Hereford
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Treacodactyl Downsizer Moderator
Joined: 28 Oct 2004 Posts: 25795 Location: Jumping on the bandwagon of opportunism
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tahir
Joined: 28 Oct 2004 Posts: 45672 Location: Essex
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Nick
Joined: 02 Nov 2004 Posts: 34535 Location: Hereford
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Posted: Wed Apr 12, 06 11:45 am Post subject: |
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As I say, there's no sniff of building potential on the land. The road extends to our gate, and after that is green lane. The field entrance is only possible off this green lane (only about 15 m). There's two plots up for grabs, and the other one is attracting more attention because it's on the metalled road, but crucially, nearer other people's houses, and they want it.
It's up for 15k, but it's a sealed bid, and I wouldn't know what it'll go for. Although, I will when it's sold, on May 5th. |
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Penny Outskirts
Joined: 18 Sep 2005 Posts: 23385 Location: Planet, not on the....
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