Buying neighbours land

[OnlyJenny]

Hi all hopefully someone can help me with my request for info...
My neighbour has said she will let me have a metre of her land that runs alongside my house . It's purely so I can have access to the rear of my house so the plan is to put steps there. The thing is how much should I pay for it? It would be a metre wide and run from the front of my house to the back so probably about 3 metres long too...I genuinely don't think it will alter the value of her house. We are on good terms and I would never take liberties and have said that we will make her property good before we start building the steps.... But I have no idea how much to offer...... thanks all x

A few thousand. And then you need to pay for all the legal fees which will be another few thousand.

When you buy a house you want land of course it would decrease the value of her property.

We were negotiating to buy similar (but double your width). Agreed at £17.5k but they have said not enough. If she has a mortgage she will have to get their valuer to assess impact (as it is the bank’s asset) as well as you paying for an independent surveyor to give price range.

Depends on where you live. London could be tens of thousands, Scotland could be a few thousand.

You’ll need to get it valued guy a surveyor.

Whatever they will accept, but a
starting point I have often been told is to get a value of your house with and without the land, establish the uplift in value and half it. Then add their legal fees, fencing, and any survey costs (they may want their own or be charged for one by their mortgage provider) plus your legal fees.

Hopefully for you they won’t be that on the ball but if they are I’d not expect change
from £10k plus whatever you pay for the land.

When a neighbour was querying buying some land from me, a local estate agent said you work out how much the land will increase the neighbour's property value then divide by two
No idea if he just got that out of a hat as we didnt take it any further in the end