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Land prices
I have the chance to buy some extra garden land which is attached to the bottom of our garden, How much should I be expected to pay for it?
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The cynic's answer would be 'as little as possible'.
This area is about 0.03 of an acre. Agricultural land sells at about �3000 per acre, amenity land (for grazing) at about �10000 per acre. That means your land should be worth somewhere between �100 - �300.
The real problem for both parties is that you might have to spend much more than this in solicitors fees to transfer the land to you - phone a couple and ask, perhaps.
If you are involved in negotiating over this, I would start by asking the seller how much he wants. If he doesn't know either, start by using my agricultural land figure and then go through the calcualtion that shows 'its worth about �100 then' See what he says. Its all a question to bridging the gap as cheaply as you can for yourself. The chance of a bigger garden might justify bidding much more than I'm suggesting. But don't forget the legals!!
This area is about 0.03 of an acre. Agricultural land sells at about �3000 per acre, amenity land (for grazing) at about �10000 per acre. That means your land should be worth somewhere between �100 - �300.
The real problem for both parties is that you might have to spend much more than this in solicitors fees to transfer the land to you - phone a couple and ask, perhaps.
If you are involved in negotiating over this, I would start by asking the seller how much he wants. If he doesn't know either, start by using my agricultural land figure and then go through the calcualtion that shows 'its worth about �100 then' See what he says. Its all a question to bridging the gap as cheaply as you can for yourself. The chance of a bigger garden might justify bidding much more than I'm suggesting. But don't forget the legals!!
We have actually already made a tentative enquiry, on the understanding that we paid all the incurred legal fees as well as an appointed surveyor's fees. The upshot was a figure for the land, in the region of several thousand pounds, with the added stipulation the land be kept purely as garden. All in all, we were stung for a sum of �300 for all this. The vendor is the Church of England and the derelict land is currently the back end of a Rectory garden. It seems as land-owners they are particulary mercenary in all their property dealings. As things stand this land is overgrown,neglected and in much need of TLC. Even the Vicar has no wish to use this burdensome nettle-patch. The CoE have now said we can appoint our own surveyor. Do you think our surveyor would be likely to come back with a price more in keeping with what you say ( and we agree )is more realistic?
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