OK, so if I wanted to do something *really* stupid, what are the odds of 1) Getting a mortgage to buy 2 acres of arable land [1] 2) Getting planning permission to build on said land.[2] [1] I could probably do about 60% LTV [2] Arable it may be, but it's bang in the middle of a village. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
Pretty good, so long as your credit rating/assets are good. Pretty low. If the chances are good for PP, then a Property Developer/Builder will already have it earmarked for buying. It all depends on what policy your local Council has. If they are against all new development, then you have little hope, if however they are actively looking for new housing sites, then they may look at it positively. Ring the Council Officer who deals with PP, and ask his opinion on if it is worthwhile pursuing. Alan.
I believe there is some loop hole whereby if you work the land you can then build yourself a house on it BICBW -- Malc Rusted and ropy. Dog-eared old copy. Vintage and classic, or just plain Jurassic: all words to describe me.
You are. You can build a shed or agricultural buildings but not a house. And don't think about putting a house inside an agricultural building... 'cos the planners got a sniff of that locally and had construction stopped. Bloody incomers, cause nothing but trouble.
Zilch iwht. How much is it anyway? Around 5k/acre is the average so a personal loan paid off asap would be a better bet. Impossible to say, depends entirely on the council's policy for such things & how many objections there are.
My, at the time, sister in law started a smallholding growing herbs & other plants for the wholesale market on a 5 acre plot. Eventually, after living in a static caravan for a while, they got PP to build a house. I think they had to live there for a further 5 years before it could be sold. Around here, there have been a few exceptions granted where the applicant has been a young person who works in the rural area, e.g. farming or forestry, and cannot afford to buy a place. A middle-aged incomer would have no chance.
Interesting. Where do you get that figure from, cos this is up for 75k an acre. At 5k an acre, I'd write them a cheque. Ta. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
How much? I would have expected between 10 and 20k an acre for arable land. -- Malc Rusted and ropy. Dog-eared old copy. Vintage and classic, or just plain Jurassic: all words to describe me.
20k sounds a lot higher than I'd expect. Land without planning permission I would have expected 5k ish as Krusty suggests. However I am a little out of touch with this stuff. 75k an acre without planning permission is really taking the piss.
A bit of land came up for sale near to me 3 years ago, around an acre in size. Horses had been kept on it, and it was only for sale as agricultural/horse land - green belt, so no chance of building. I fancied it for shooting etc, so rang and asked the guide price, expecting up to £10k. I thought she said £8000 when asked. I said "I'll put an offer in then, I thought it may be a bit more than 8000". She replied, "No,it is £80,000." Apparently, horsey folk buy it for their own horses use, then rent out 2 or 3 stables to others, and it usually pays for itself after 10 years. With it being right at the edge of a reasonably affluent village, there was no shortage of people wanting to buy a local field to keep their horse in. 5k would buy something 5 miles from the nearest house, with a dirt track or footpath as the only access. Alan.
A mate of mine bought a new house on the edge of a Mid-Beds village - nice house, in the way of 'luxury developments' - 4/5 beds, 3 baths, detached double garage, that sort of thing. Anyway: the builder had fucked up and cut himself off from two potential plots at the back, so when Big Andy had moved in, the builder turned up on the doorstep and a deal was struck for the "paddock" behind his house - for 7.5k. He was almost immediately approached by a burd from a cottage down the road, who wondered if she could "graze her horse" on his verdant pasture. She paid him, as did another couple of horsey locals - then they asked if they could build stables (for themselves - and another few horsey locals) along two sides, and if he would mind if they arranged for a water supply. They paid him for the stabling. Five years later ... he paid his house off at Christmas. He thought he'd be good for beerandfags level cash, but it growed like Topsy and now he's the proud owner of what looks like a livery stable complete with a very popular muckheap (for the output of which the allotmenteers pay him), a ride-on mower for when the horses can't keep it down and, best of all, since the owners of the house next door got fucked off and settled the umpty-ninth insurance claim for horsey types taking lumps out of their garage with badly-reversed horseboxes - they've demolished the garage, built a new one on the other side of their house and sold Andy that bit of land for access to the paddock. This means he now has access to the building plot that was denied in the first place. I think he's going to retire shortly.
It's just one of those things I know. If it's a posh area where small plots never come up for sale, the horsey people will pay stupid amounts. It sounds like the seller's chancing their arm & hoping someone like you with an eye on PP pops up though.
A few years ago I bought about three anna half acres for twelve K. But this is pure agricultural land in the wilds of Suffolk, with no direct road access (there is a private track that I have right of access through though). For a plot in a village with roadside access and the prospect of it maybe getting PP I'd expect it to be much, much higher. Also, as a rough rule, the smaller the plot, the higher the cost per acre.
I did some more digging into prices. The *cheapest* I can find land round here, with no planning permission is IRO 10k per acre. The highest is moving happily into the 1 million per. That's often with existing buildings and / or detailed planning permission. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
The horse stuff I can understand, but AFAICT this is covered in grain right now. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
Interesting. It's got road frontage, and is being sold as a series of plots. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
Fair enoguh. Hmm. It's a reasonably posh area, I suppose[1]. I have no idea how often land comes up. [1] For east Essex values of posh. -- Catman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 GTV TS GT 3.2 V6 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk
If it is in the middle of a village it is unlikely to be Green Belt but there could be other reasons that it cannot be built on. Have words with the local planning officer and importantly the planning member of the Parish Council. Also check for restrictive covenants on the deeds.
It's a way of tempting people into paying over the odds in the hope they'll get planning permission one day.
