AIBU to turn down developer’s offer of £££ and keep our garden?

[Emelene]

Hi MN. I would appreciate some opinions. We have very recently moved to a village, with an outstanding school, village green out the front and a garden in excess of 100 ft out the back. Our kids are almost 3 and 1 and we see ourselves living here for at least a decade.

The thing is the last owner was intending to sell 60% of the garden to developers, along with the next 3 neighbours along (we are the end plot on the plans). She lost patience and sold the lot to us. Planning permission has finally been granted after previous appeals were turned down.

Under the plans, there would be a house and a half built on our land, so we would be overlooked and lose 60 percent of the garden. We don’t have to sell, but the developers have offered a final offer of £100k. That would pay off about a third of our mortgage. They are pressuring us to make a decision ASAP.

Obviously it’s a huge amount of money and a privileged position to be in … it’s very hard to say no. But. Losing the garden is a high price. We’d planned chickens, Wendy house etc. The house currently feels so peaceful, trees out the back (that would be cut down) and birdsong. So I think it would change the whole feel of our home. But there will be a house built in the neighbour’s garden, so there will be a small element of overlooking…

I’m scared we will regret turning down the money. But our kids are so young and we moved here to give them a wonderful childhood (with a garden!)

So AIBU to turn the developers down and keep the garden? WWYD?

Can you sell all the land plus your house and move within the village The 100K will be CGT free
Rather than pay off the mortgage you may be able to move to a bigger house.. by the way is 100K the right figure If it has a house and a half on it , the land could be worth more ......look about before deciding

You bought the house because you loved it and the garden and ( presumably) can afford it. Why woujd you accept what is a ( proportionately) low offer to lose valuable land? Enjoy the garden - the planning permission has been granted so if at some time in the distant future you need money you could make far more £ by putting a ( possibly smaller) property on there yourselves with covenants/ clauses to protect your interests before you sold. Unless you feel the neighbouring new houses will ruin your home , enjoy it to the full knowing you can always use the asset in the future.

No way. £100k is not that much. I mean it is hat much, but not really. Where I live you’d pay more than £100k more for the shame size house with a bigger garden. You effectively already paid £100k for that bit of garden, no point selling it - you’ll end up looking elsewhere for somewhere with a big garden and using it to buy that! Stay where you are and enjoy the garden. Unless the new development will ruin it….

Keep the garden. With interest rates at

OP has declined the Offer

I'm so pleased that you decided not to accept it. We have a similar sized (around 90 ft) garden and we wouldnt want to lose any of it. There is a house at the back of us, with around a 30 ft garden, and we are quite overlooked as it is. The only reason I wiikd accept is if they offered me value of the house + 100k! I'm really curious to see if they come back with a higher offer...

Whilst £100k is a lot what is the lost value of your property by accepting? I think you are right to not want to sell.

I would turn it down in a heartbeat. Your garden sounds lovely.

I suspect that losing 60% of the garden would also devalue your home and make it quite hard to sell should you ever wish to do so. So that £100k isn’t really £100k, it’s much less once you take into account how this would devalue your house.

Not to mention all the noise and dust as the house is built so close.

Keep your garden.

We live semi-rurally, and have a back garden of about 3/4 acre. It adds much value to the house, so I keep it. I really like my green sward surrounded by trees. It is mainly a weedy lawn now, but a sit-on mower whizzes around it so it is little trouble. The shrubby edges are full of wildlife and there are a wide variety of birds. We are not overlooked and beyond the garden are fields.
Your situation will be different, and if you are in need of the money you must decide. However, being overlooked is a pain and it sounds as if you will end up with a small 40 ft deep garden and your home may lose much of its charm. An extra house-and-a-half at the end of your garden! I think would retain the extra space for the pleasure of your kids into the future, and the additional value in the house.

@NothingIsWrong

Your bank may not even let you sell it. If there is a mortgage you need their permission as it devalues the property the mortgage is secured on

THIS

FFS OP DECLINED TO SELL !? 🙄

For a house and a half to be built and the impact it would have on your home life compared to now, I definitely wouldn’t accept £100k. So if that is their final offer, keep your garden and your privacy.

Correct decision I think. Have you updated the developer, how did they take it?