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.

To answer a few questions;
We're on the coast, south east. 3 bed semi worth 230, bought only last December.
Close family member mentioned it briefly (in the building trade), and i know they would be serious about it in the future.

We're not really considering it, just wanted to see other people's opinions! We're only young and this is our first house and obviously 50k seems like a lot of money for us, but i don't think it's something we'd look to do anyway

😂😂😂 then no way.

We're not terraced but someone actually offered to buy part of our garden, alongside the house rather than behind it, with a view to building on it.
No figures were discussed ( but I got the impression the figure they had in mind wasn't as much as 50k, cheeky twat) but we said no anyway as it would have been horrendous in terms of disruption, another house very near ours, loss of space, souring relationships with neighbours, and so on.
Not to mention planning permission is unlikely to be granted as it's green belt, and definitely not in the village building 'envelope'.

and i know they would be serious about it in the future

Be very firm with them now that this is not something you are willing to consider and dont even entertain a discussion about it in the future.

I did this but made them buy my house too otherwise no I wouldn't

For 50K they’re having a laugh at your expense!
Not a bloody chance.

Before you sell, get full or outline planning permission and sell it as a house with a plot.

The way to do it, OP, would be for your family member to buy your house from you at market price, when you’re ready to move. Then they can get the LP do the work, and sell both houses on.

Absolutely not!! You should get your own planning permission on your land and then build yourself if you don't mind being a mid rather than end terrace. You'd make much more than 50k and could
Potentially live in the new house and sell the old one.

‘A lot of money’ and ‘getting a good price and good value’ are very different things.

50k???

They are taking the serious piss

Nope.

No way. Not even if they had a magic wand and could drop the house in silently overnight. But you’d be doing it knowing you were letting yourself in for a year of building noise and that would be hideous.

Build it yourself then sell both if it's doable .. or get planning permission and sell the plot yourself for more .

If semi selling for 230 then I'd want 100k for the land.

As a rough guude a build might be a third of the price land, a third the build and a third profit so if the resulting house would be worth 250k say (new build premium/fancy spec) the plot would be worth 80 odd k.

As suggested by a previous poster it might be worth getting planning permission for a house shortly before you do plan to move to sell it as house and building plot.

No, they are trying to profit from you at your expense and it sounds like a bad plan.

Not a chance in hell. Apart from the fact it would devalue a property you don’t plan to stay in longterm, the upheaval would be hideous. I had to get separate utilities installed to an annexe and separate the deeds and it was a tedious, long nightmare.

Sell it and then put in a good objection to the planning application.

Turning a semi - detached house (not the same thing as "end terrace") in to a mid terrace sounds like a nightmare. Adjoining walls, access to the rear of the property, utilities etc. Don't do it!

Imo 80k above is on the low side because the price of the house will devalued. I also think more like 100k... but house prices and plot prices will change after brexit assuming it happens.

The general rule of thumb for developers is a third cost for plot, a third cost for building it and a third profit so if new house would be worth £300k your plot should be about £100k - and possibly plus about another £20k for your devalue.

I rent and the old house I rented had a little bit to the side, I always thought if I owned the house I’d hang on to that so I could potentially build on the land a house for the eldest (was an only at the time) to live in, as house prices are crackers!
In the end it got sold to be flats.