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?

No chance! How much profit would you actually have when you consider the value it would knock off your property?

Not enough to make ruining your dream house & garden worth it I bet.

So you recently moved in? Did your mortgage lender know about this?!

I would erect a makeshift boundary where your new one would be and see how it feels in a smaller garden.

I don’t think a 30ft garden would be an attractive proposition to me.

If this is some kind of weird 'reverse' about a situation in a village called E then I suggest that you are winding an already inflamed situation up further. The proposed development there will ruin the village and the homes of many people.

If it is not, please accept my apologies and good luck with whatever you decide.

@Lovelydovey

Ask for the full value of your house. It sounds like they are desperate for the land. Then sell up - even at a loss - and move somewhere else. It sounds like your neighbours are already in so you won’t be upsetting them.

Good point, they'll probably say no but if it's the difference between the development going ahead and not, they might go for it.

You would need permission from the mortgage company, they will take into account LTV

It all depends on how much your house will be worth if there is a house overlooking etc. If it is 100K less then don't do it but if you will make money on it then you can sell the house after. It sounds like you will be overlooked to some extent now anyway and the area will be more developed and so, even if you don't take the money, you could be at a loss. I'd get valuations.

A 40 foot garden still seems pretty big to me. The distributions going to go ahead no matter what by the sounds of it so for me I'd be very tempted to sell and see if you're happy there and if not sell the property. Have you marked out where the 69 feet would start to see if it's do able?I would absolutely go back with a full and final offer of your own though.

Regarding chickens - it's a lovely idea but they are very smelly and destructive so you would need to be able to write off quite a bit of land to them anyway and ideally keep moving their piece of land around to give them fresh growth to peck at.

I wouldn't budge. They're hoping to roll you over on the cheap because frankly they had the option for a stress free purchase by buying house & land. They know it'll devalue the house massively that's why they didn't purchase!

Please keep the garden and let it be a place of nature. You won't regret better outdoor space.

Oh gosh say no. That’ll be hell to live through; and being overlooked is awful. You’ll want to move and that’ll cost you - and you’ll struggle to sell.

Say no and run a mile!

(Eight pages in that I haven’t read, I may have missed something. But had to comment as someone who has been overlooked and lived beside building work - both are BAD.)

Why did the previous owners lose patience with the developers? Something doesn’t sound right.
I wouldn’t sell. Why should you? You are young and your house is worth more on a bigger plot - It will lose money if you sell the land. Work out how much £ you will gain realistically.
If the developers are selling each house for 400k+ and your land is costing them only 100k for 1 1/2 houses (600k) They are making a massive profit.
Houses are surprisingly cheap to build. Land costs a lot though.

Wouldn't sell. You can easily sell it for that money in 10 years time and whp really wants to compromise after just moving in?

@AlmostAlwyn

If a developer can fit a detached house in your garden and has already obtained planning permission for it, then why don't you turn it down, but look on it as an emergency nest egg, should the need ever arise for additional funds or when you're planning on moving on?

I would enjoy the garden while your kids are young. My grandparents had a really big garden and it was amazing for me and my siblings to play in when we were young. When they decided to sell up/downsize, they sold half of the garden and a developer built two houses on the land.

If you sold now, I think you'd regret it more than if you don't accept!

Because the developers have access, they can't possibly build on their own in the garden- they live in a terrace. Do people not read at least all the OP's posts?

Someone has sought outline planning permission on my garden
I find it quite amusing and wait for them show their hand.

Keep your garden! Apart from the noise and hassle, I always think houses where a significant part of the garden has been sheared off for a new build always look weird somehow. It will affect the value of your house and the ease of re-selling it. You’re lucky to have a lovely big garden - treasure it and enjoy it.

Id be asking for more money. I dont think you are being offered the right amount. Would the sale of the land and the house that will sit on it not devalue your home

If they offered you £100k, then they know the land is worth loads more than that so do not accept a first offer.
How much would your house depreciate by if you sold the land? Could you really stand living in a building site with small children? And then having people being able to see into your property…

Unless you really really need that cash in hand now, I wouldn’t go near this with a barge pole.

@Hiccuppppp

Someone has sought outline planning permission on my garden I find it quite amusing and wait for them show their hand.

How did you find out? Did the planning office contact you?

Get an Estate Agent in, find out how much your home would be worth, without the garden , and being overlooked. Also how much with the new houses.
So 4 houses £1.8 M. COST £.5 M PROFIT £1.3
2 houses £.9 M COST £.25M PROFIT .65M
AND THEY WANT TO GIVE YOU 100K.
Tell them no.
By the way you could apply for planning on your own land, if you ever want to sell. It will up the value.

@Aqua55

Sell the land and then sell the house. Move somewhere you're not overlooked.

Dream on! With that on the cards, OP probably won’t be able to sell her house for a long long time. Anything will sell for any price of course, but my bet is it will be £100k less than the current value.

Someone has sought outline planning permission on my garden

I find it quite amusing and wait for them show their hand

It's quite funny when that happens isn't it. It's been done a few times in the village where my DSis lives.

I wonder how much they are thinking of offering you?

@Bollindger

Get an Estate Agent in, find out how much your home would be worth, without the garden , and being overlooked. Also how much with the new houses. So 4 houses £1.8 M. COST £.5 M PROFIT £1.3 2 houses £.9 M COST £.25M PROFIT .65M AND THEY WANT TO GIVE YOU 100K. Tell them no. By the way you could apply for planning on your own land, if you ever want to sell. It will up the value.

Naive. All the estate agents are thick as thieves when it comes to developments. Of course they’ll tell her to sell the garden plus her house….it’s all commission for them!

How much value would it take off your house and would your mortgage company let you devalue the house?

I've never understood the massive house tiny garden folks round here it's quite usual. If I had a big house I'd want a decent garden.

Don't sell the land, it will cost you more in the long run as you will hate the place and want to move.

How did you find out? Did the planning office contact you?

We had a few people try and get into it (our houses accesses 2 roads) and 2 letters offering to buy the house. Turns out it has been identified by the council as a potential building plot likely to get planning. People were asked to submit sites. We didn't submit it. It is probably 1 step below outline planning- it has a presumption to build on it.