To sell our land for millions...

[Rosebyanothername19]

Long story short, we baught a house and some land along with it as we had got wind that they might be planning to build houses on it and other surrounding land and we didn't want other houses directly around ours.

We were then told by the local council that there was no chance as it had been rebuffed a number of times and wasn't going to happen. So felt a bit like we had wasted our money.

A few months later we find out that our land is the only land in the area that has been put forward for planning permission, so is potentially worth millions if sold for housing. But also a relief that we baught it so it can't get built on without our consent.

We could sell the land and the house and buy something else. In a way, we have possibly won the lottery. But we love the house and the whole reason for buying the land was so there wasn't houses on it!

So wwyd?

AIBU?

YES: Don't sell the land
NO: Sell the land and the house and buy something else.

Millions!! Really? Just how much land is it? Don't forget any developer will want to make a good profit so giving you millions would mean a fair number of properties would have to be built.

I personally wouldn't. It would feel hypocritical to me, to have bought the land to prevent it from being built on and then to sell it for development. I'd rather have a lovely house on its own land than millions in the bank though. I would get goats and donkeys if it was me.

Ok that makes more sense. There is no planning permission. I doubt your field is suddenly worth millions! Yes there may be some money to be made if your fields are now flagged as ok for development but it sounds like you did the right thing in buying them to safeguard your view. That was the good investment

Well surely it depends on how much millions mean to you? If you're already a millionaire living in your dream house then no dont sell... but if your house is £500,000 or less (as an example) then surely you'd sell? Then you can buy a better house with even more private land in an even nicer area....

OK, just read your most recent update. Sounds like it's allocated in a draft local plan, which would give the land an uplift from agricultural value, but only c.20% at most. For it to go any further and for any increase in value, the site has to go through the full planning process, which no serious developer is going to bother doing without your involvement as the landowner through an option or promotion agreement.

I can't imagine how tempting it must be, but from the POV of someone who doesn't stand to gain at all, I would say don't sell it.

There's too much green space disappearing under concrete and tarmac for new identikit cramped homes. And we're all paying the price in poorer air quality, biodiversity, increased flooding risks, and so on.

Depending on how much land there is, I'd suggest rewilding it, planting wildflower meadows, putting in ponds, planting trees etc.

Sell it for millions, find another place with another house or find land and build the one you're now.

@Tarararara no there isn't. We baught the first field first, then decided on the second. They didn't put it on the first (by mistake we think) so then couldn't on the second.

10 houses per acre?! What are they intending to build, rabbit hutches?

BOUGHT

If it's the council that want it for building houses and the planning goes through they may end up compulsory purchasing it. Not sure if that means you'll get the 'million's' or it's value without the planning permission.

Bought. There’s no A in bought.

Hennaoj- makes a really good point. That would be a nightmare scenario because no bugger is then going to want to buy your house knowing that a massive housing estate is going to be built next door. Good news is, the bar is pretty high for compulsory purchases!

@Anotherlovelybitofsquirrel........ that's what bothered me too....."bought"

Baught is not a word!!!

I’d sell it and move

If consent gets given for your land it’s probably a sign that there’s a big need for housing so in that sense you’d be doing some good for the community?

@hennaoj can they really do that???

Okay op. Having read all your comments I am fairly confident the land has been earmarked for housing on your local plan rather than actually got planning permisison.

Yes they can! But as I said the bar is pretty high!

Omg OP, its bought! Baught is not a word.

@Straighttalking1 that's not all that's bothering me

I thought people were moaning that there’s lot enough houses. Now they shouldn’t build at all?

Not

Sounds like the land is zoned for potential housing development. The land wont actually be worth millions, until panning is approved, this will likely be a quite lengthy process. Zoned land round here took nearly 5 years before building work actually started.
.

I thought people were moaning that there’s lot enough houses. Now they shouldn’t build at all?

Funny isn’t it?!