If someone offered you 50k

[Greywalls12]

To use half of your garden to build a house, would you?
House is end of terrace, so would make it a terraced house.

No way would £50k cover it here, more like £150k for the plot.

No. £50k is nowhere near enough compensation for the noise, filth and disruption while they are building on to your property. That’s before you take into account the depreciation turning an end of terrace with potential to extend to a hemmed in mid terrace.

You could offer to sell them your house at market value as an alternative. Then they could extend all they like.

You need to firstly work out if you'd mind being mid terraced, having less land. If not, then get the land value and impact on the value of your present property. Also, what you want written into any land sale, ie whose responsible for rerouting services, perhaps something in there that if ever there was an extension, no windows could overlook your property within a certain distance.

No.

The building of the house onto yours will be horrendous!

No. I don't need the £50k

The £50k is probably just the value your house would decrease by. Instead of an end terrace with a big garden you’d have a mid Terrace with a smaller garden. Once you’ve added in the disruption of the build it doesn’t seem worth it at all. Offer to sell them your house for full market value.

No.

Totally meaningless without an idea of where you live and what your house now is worth.

But I can't imagine it would be anything near enough even in a cheaper part of the country.

If you're planing to sell in 5 years or so then it's even more important you don't devalue your house!

I’d build myself before I left if it wasn’t my forever home, actualise the value for my family : also I’d put in for planning permission to block them from doing it

HELL NO!!!

£50k they're taking the piss. But I live in the Home Counties

Nope. Our neighbours have actually done this - we have very long gardens and they've sold half of theirs for substantially less than 50k, when I've seen comparable plots on the market for at least 80k. The initial planning application has been rejected so we are watching developments carefully - someone might have just made an expensive mistake.

I love our big garden and think we're incredibly lucky to have it, but if next door's planning permission went through, I'd think about applying for the same before we sell up just to increase value. I'd prefer to think that a buyer would love the garden as much as we do and want to keep it as is, but land is at an increasing premium round here so I wouldn't be surprised if someone ends up building on it.

Not a chance. I value my garden and we value our privacy.

It doesn't sound like enough to compensate you for the land, living on a building site and making your house terraced. Why not apply for planning permission yourself and increase the value when you sell?

Absolutely not.

Only if I was elderly, my house was paid off and it was my only alternative to equity release (I needed the money). Or possibly also if 50k would see me mortgage free and I wanted to stay long term.

If you have a mortgage the property and land is the banks security and you wont be allowed to just sell parts of it (unless the solicitor settles the mortgage at the same time as above.

If you are considering it carefully compare the value before and after. If it knocks anything like 30k plus off the value it's not worth the agro. I assume you will lose access from the front to the back of your house without walking through it? Will you lose your parking? What if your new neighbours are horrid/anti social - that could knock further value off your house.

Borrow the money yourself, build it yourself, move into it, sell your own and then sell it in a few years.

Doesn’t sound like much for that.
If you’re prepared to lose the garden it would be more profitable for you to build the house yourselves and then sell it (if you don’t mind the financial risk and the hassle that is!)

Offer to sell them your house including the land (for a suitably inflated price) then they can build and sell two houses on.

That sounds low even for Middlesbrough.
And that’s just for the land.

Really doesn't sound like much if the plot is large enough for a house.

Look into doing it yourself - easier if you don't have to live in it and you can pop in and keep an eye easily enough. You will sell for a profit if you area is in demand, which it must be if someone wants to do this.

Yo need legal advice.

Do it yourself if you are able and after researching find out it’s worth it.

Oh and do consider you’ll perhaps have to add another dropped kerb. That requires permission not included in pp.

Speak to an estate agent, get a valuation for your house as it is, and a valuation for your house with a smaller garden a planning permission for another house. If you're not planning to stay you'd be better selling the lot with pp. (even better getting a loan and building it yourself then selling both houses).

Definitely not