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Muskoka

The Plot Thickens

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I did a drive by & am doing a proper viewing of a property in green belt at weekend.Been on market since March 07 & reduced from 285K to 260K. I know way too expensive otherwise somebody would have snapped up. Timber framed 1930's bungalow in superb location - greenbelt in middle of woods literally - unmade road, etc. I spoke to land agent today who figures plot may be worth that kind of money due to superb location, though obviously I would argue that one

I strongly suspect this place should be pulled down & a new home built (is on plotlands) Vendor is living there, so is habitable - sort of I figure

No sold price on land registry which indicates vendor owned long time. However, on land registry there is a registered sale of the next door plot (which used to belong to the bungalow above) sold for 3K, yes 3K (full size plot) to George Wimpey in 2006. I can't get my head round what is going on?

Anybody here got any info or opinions on this? (please!)

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I did a drive by & am doing a proper viewing of a property in green belt at weekend.Been on market since March 07 & reduced from 285K to 260K. I know way too expensive otherwise somebody would have snapped up. Timber framed 1930's bungalow in superb location - greenbelt in middle of woods literally - unmade road, etc. I spoke to land agent today who figures plot may be worth that kind of money due to superb location, though obviously I would argue that one

I strongly suspect this place should be pulled down & a new home built (is on plotlands) Vendor is living there, so is habitable - sort of I figure

No sold price on land registry which indicates vendor owned long time. However, on land registry there is a registered sale of the next door plot (which used to belong to the bungalow above) sold for 3K, yes 3K (full size plot) to George Wimpey in 2006. I can't get my head round what is going on?

Anybody here got any info or opinions on this? (please!)

Its not some kind of agricultural accomodation is it? eg for people who need to stay on site and look after animals for instance. This type of accomodation and the use of the building for accomodation can get exemption from planning laws as along as the use remains, ie the allowance is to use the building for accomodation provided the person/people using are there for the purpose of tending the animals.

If you bought it, there might not be valid planning permission. Worth checking, though if you do engage a solicitor they'd do that anyway.

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Apparantly these plots were sold in the 30's for 25K....so I've been told & development is restricted to footprint of orginal house - guess George Wimpey purchased for future possible development, but do Land Registry make mistakes - I mean 3K for a full size plot?

Anybody have any structured idea as how I can gauge the value of the old bungalow/plot I am looking at on Saturday?

Option? Sorry I dont understand. Could you explain please? Land registry shows plot adjoining as sold - so what option?

Edited by Muskoka

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Apparantly these plots were sold in the 30's for 25K....so I've been told & development is restricted to footprint of orginal house - guess George Wimpey purchased for future possible development, but do Land Registry make mistakes - I mean 3K for a full size plot?

Anybody have any structured idea as how I can gauge the value of the old bungalow/plot I am looking at on Saturday?

Option? Sorry I dont understand. Could you explain please? Land registry shows plot adjoining as sold - so what option?

£25k was a huge sum in the 1930's. A three bed semi could be bought for less than £1000 then so you could be getting duff information. If the owner is there when you view I'd ask them you'll probably get the full story.

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Brilliant! Thanks for that - Next question - how do I seriously value the plot with the old bungalow (which is habitable, guy lives there) on green belt - planning will allow re-build within existing footprint - next door (again old bungalow) sold 2005 for 200K. Any information/opinions/very very welcome.

I have spoken to two land valuers who have both said this plot is worth 250K - I dont want to pay that much & need to justify a lower offer - all ideas welcome. (I figure cant be worth 250K as been on market for 16 months) - Land valuers think im a dumb blonde maybe?

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Brilliant! Thanks for that - Next question - how do I seriously value the plot with the old bungalow (which is habitable, guy lives there) on green belt - planning will allow re-build within existing footprint - next door (again old bungalow) sold 2005 for 200K. Any information/opinions/very very welcome.

I have spoken to two land valuers who have both said this plot is worth 250K - I dont want to pay that much & need to justify a lower offer - all ideas welcome. (I figure cant be worth 250K as been on market for 16 months) - Land valuers think im a dumb blonde maybe?

a relative buys and sells land for a living.

says they are 25-30% down from peak 18 months ago. the main reason being it is far harder to get a loan to buy land than it was 18months ago (a bit like flats)

so if it was "worth" 250k 16months ago then knock 75k off. making it "worth" 175k

the true answer to you question is this

how much would i pay for a built house in this location (lets pretend you would pay 300k)

how much would it cost to knock the old one down and build the new one there (lets pretend 100k)

whats the risk and mortgage payments or lost interest on the build (lets say 40k)

300k - 100k - 40k = £160k

that is what it is worth to you, go in with an offer under that, dont offer a penny more.

insert numbers that applu to you to figure out what its worth.

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  • 396 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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