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?

Don'f. We moved but I miss my massive garden, the playground, the chickens, the veg patches etc.

On a financial note.. you could perhaps gather funds later down the line and build something on the plot yourselves.

But for a good 10-15 years you'll appreciate that garden.

You would have to remortgage as the value of your house would drop significantly. In your place no way would I sell, let your children enjoy the garden and when/if you want to move, your house will be worth more with a plot that could be developed.

I wouldn't, 100ft isn't that big to sell a portion of, you'll be really overlooked. My last house had 200ft and we could still see the houses windows behind (current house has tiny garden but backs onto garages and nothing beyond)

If they’re planning on selling the houses for £450k I’d say fuck that offer. Ask for £250k and then sell your house and upgrade.

@Emelene

Thank you for thoughts so far. Speedy responses! I’ll answer some points raised -

DH and I are 28. Maintaining the garden will be a challenge as we both work but I think will get easier when my little one can walk and not eat the dirt etc. I am concerned that we will end up with an overgrown mess and not these lovely garden dreams!

The development can’t go ahead as planned without our land. They will do what they can on the other gardens, and apply for a change in planning to build a smaller house on our neighbour’s land only. So they will end up with 2 full size (3 bed detached) houses and a smaller one, rather than the 4 originally planned. We will scrutinise the new plans and be given a chance to object i believe, on grounds such as being overlooked. But as they had planning previously I can’t see us stopping it. I believe each house was planned to sell for around £450k. However the planning process is far from transparent and we are struggling to get reliable information.

The developers apparently can’t afford to buy the house and land with it. It does make their assurances that “not everyone wants a big garden so you wouldn’t lose much house value” sound rubbish.

I don’t think we could find another house we liked better for our sale price +100k. Particularly with all the costs of moving again. We have scrutinised Rightmove etc. I think a “step up” house is in the region of 200k more (another bedroom, big garden, detached) and then we wouldn’t be able to afford the repayments.

We absolutely love the location of this house and it works very well layout wise etc. It’s probably not my dream forever home but I do feel like it’s my dream home for the budget we have, and a great childhood house for my kids, if that makes sense?

I’m not sure what the neighbours think. We haven’t met them- they’ve been away and later when we knocked they were out. I don’t want them to hate us, but I need to do what’s best for my family…

They are right about not everyone wanting a large garden, 40ft is still a reasonable size for many.

I've done a few small unit (by numbers) developments and it's always the last 2 units that make it a serious earner or not, the viability of the project may well depend on them securing your land. It may not be that easy for them to squeeze in units on the remaining land to make it an earner.

What’s the value of your home if you sell 60% of your garden?

Key question is will the development go ahead without your land?
If so you could end up being partially overlooked even if you don't take the cash.

You have lots of bargaining power. You can get a heck of a lot more than what the developer has offered you.

Don't do it. We bought a house with a lovely big garden with lots of tree at the back when our children were 3 & 1. We had a swing, a slide, a rocking horse and other garden toys that would have been too much for a small garden. Next door to us was a modern house that was built on land bought from the people behind them. The garden was tiny and she often said she wished she'd bought our house.

So if they originally were going to sell 4 houses for £450k each what do you think the new 2 houses plus a smaller one will sell for? Will it be less as the development won’t look as nice? Will the other houses be smaller? Access?

I’m wondering if you can push up the offer on your land ?

450k x 4 vs ??

You would have to remortgage as the value of your house would drop significantly.

How on earth can you assume that?

Don't forget to work out how much it'll knock off the current value of your home, and also bear in mind how much less saleable your house will become. That almost negates the £100k.

A wise (and wealthy) old bloke said to me once "hang on to your land, they don't make it any more".

1. A building plot with pp for 1.5 houses is worth more than 100k. Get an independent valuation.

1. It's worth even more as they need it to complete the set

1. I'd rather have the garden than the money but will the building in the neighbours garden spoil yours? If so I'd sell the garden (for more than 100k), sell the house and move

We bought our house for £335k. It’s a terrace. The houses they are building are detached (although very tiny gardens) so aiming to market around £450k each.

The remaining garden would be about 30 foot. Currently that area is mostly patio. So we would be left with patio, a small strip of grass and a shed.
Their plans are then a fence and “landscaping” (although I think a hedge will take years to get thick?), a driveway and the house. So there would be windows facing our back garden, including where we eat in the conservatory.

It will still be disruptive having building work but the closest would be 30ft down our neighbours garden. We would still have our garden and its view - a bit different to it being in our garden.

@gogohm

I wouldn't, 100ft isn't that big to sell a portion of, you'll be really overlooked. My last house had 200ft and we could still see the houses windows behind (current house has tiny garden but backs onto garages and nothing beyond)

Ooops, I read it as 100 m.100 ft is only 30m - that's not big at all.

Keep the garden. A big garden is worth SO much more than 100k.

Some houses round my way sold gardens and they are now worth way less than the houses that kept them.

We have a similar length back garden to what you'd be left with. The people behind planted leyllandi trees so as well as the oppression of the house we also have a hedge that grows out of control - worth considering..

@Emelene

Thank you for thoughts so far. Speedy responses! I’ll answer some points raised -

DH and I are 28. Maintaining the garden will be a challenge as we both work but I think will get easier when my little one can walk and not eat the dirt etc. I am concerned that we will end up with an overgrown mess and not these lovely garden dreams!

The development can’t go ahead as planned without our land. They will do what they can on the other gardens, and apply for a change in planning to build a smaller house on our neighbour’s land only. So they will end up with 2 full size (3 bed detached) houses and a smaller one, rather than the 4 originally planned. We will scrutinise the new plans and be given a chance to object i believe, on grounds such as being overlooked. But as they had planning previously I can’t see us stopping it. I believe each house was planned to sell for around £450k. However the planning process is far from transparent and we are struggling to get reliable information.

The developers apparently can’t afford to buy the house and land with it. It does make their assurances that “not everyone wants a big garden so you wouldn’t lose much house value” sound rubbish.

I don’t think we could find another house we liked better for our sale price +100k. Particularly with all the costs of moving again. We have scrutinised Rightmove etc. I think a “step up” house is in the region of 200k more (another bedroom, big garden, detached) and then we wouldn’t be able to afford the repayments.

We absolutely love the location of this house and it works very well layout wise etc. It’s probably not my dream forever home but I do feel like it’s my dream home for the budget we have, and a great childhood house for my kids, if that makes sense?

I’m not sure what the neighbours think. We haven’t met them- they’ve been away and later when we knocked they were out. I don’t want them to hate us, but I need to do what’s best for my family…

My children loved exploring our overgrown garden (it was a mess when we moved in), they learnt about nettles and brambles and went 'exploring' with sticks. I don't think children want landscaped gardens. (Plus some of my chickens/ducks managed to hide in the brambles from the daytime fox attack I had one day.

Sell the house with an overage clause and you will get % of future sale of the land

I have friends who didn’t sell to the developer. The neighbours all did though & the plans changed she now is overlooked with a long garden and a house that is four flats along the bottom so she doesn’t like using that part of the garden.

She regrets not selling it now, she wants to stay where she is because of the catchment of school but the house she loves not so much now :( and she could have had a lot smaller Mortgage or savings towards new house.

Please stick with your guns and keep the land. It'll also keep the house's value. Once you've sold it, you can't go back...

Someone I knew had similar, they were the last in the row of houses to agree to sell and they held out , they ended up selling the land for significantly more than the ‘final’ offer.

Dont do it, you might knock about 100k off the value of your house as well as having to live with construction noise and a worse house to live in ..

You need independent advice, but my advice is to turn down the offer.

I wouldn't.

1. You will be overlooked

1. Your quality time in your garden will diminish

1. You may lose money when you sell your house as you will be selling afar smaller overlooked garden

Will the developers still build on the other plots even if you don't sell