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Original poster

Inherited land/house dilemma

81 replies

JaffaBiscuits · 05/12/2021 06:43

Very, very privileged to have inherited 1 acre of land, with a 2 bed cottage. The cottage itself is uninhabitable, location semi rural.

This is completely unexpected - DH and I have been saving up the past 15 years towards a dream house, we have decent cash savings.

Would you

spend all savings building on the inherited land
sell it as-is (worth £250k) to add to the savings pot
try and add value (apply for planning permission?) before selling
spend a portion of the savings to build a house/cottage to rent out
something else?

I'm overwhelmed and don't know which way to go. I don't even know if our savings would get us far building anything. I'd have to use a company to manage it all. I have no motivation, time, energy or knowledge for a self build! It's not a location DH or I would choose to live, either.

Would love to hear any thoughts!

OP posts:

EdgeOfTheSky · 05/12/2021 08:57

It will cost money to get PP.

HaaaaaveyoumetTed · 05/12/2021 09:05

@EdgeOfTheSky

Rent it out (this appeasing the family sentimentality by not selling) and put the rent income towards a house.

You definitely should not get involved in any building or development schemes unless you have experience, a very hard business head, good planning, project managing and admin capability.

Did you miss that the current state is inhabitable? The OP will need to do significant work to get it in to a state it can be rented out.

Warmduscher · 05/12/2021 09:11

@Morechocmorechoc

You will make the most money by knocking it down and building a much bigger house. However if you are not willing to put the work in for that then just sell it.

Perhaps the OP isn’t able to put in the work, rather than “not willing”?

If it were me, I’d love to put the work in but other life commitments would make that impossible.

TizerorFizz · 05/12/2021 09:44

It’s no great issue to speak to a planning consultant and see what you could get on the plot.

Depending on planning policies, this could be a replacement house that’s only 50% bigger than the original or several houses. This would indicate who might buy the plot and what PP you should go for. Guessing in an area you don’t know, is never a good idea. Is the cottage listed? Could you split the plot and sell the cottage but build a holiday house in the garden? There are all sorts of considerations. An expert could talk you through them with ball park prices. Crucially though, they would know the planning policies which apply to that site.

Just selling as it is doesn’t make much sense when you could do some easy investigation and initial outlay is not great. Getting pp might well be worth it!

MoveOnTheCards · 05/12/2021 09:48

If extended family want it kept ‘within the family’ can you offer to sell it to then?

Either they’ll appreciate the opportunity or realise the ££ responsibility this has foisted on you if they can’t afford it or the emotional responsibility if they don’t want to live there either.

Bluntness100 · 05/12/2021 09:51

I think the fundamental question is do you want to live there?in that location?

Clearly building and having a one acre plot is generally going to be much cheaper than buying a house with a one acre garden, so for me, it comes down to do you wish to live in that location .

yourestandingonmyneck · 05/12/2021 09:53

@JaffaBiscuits

Unless the situation is complicated by emotional blackmail/ expectations/ threats of "disappointment" or "sadness" from extended family if you don't keep the land in the family for sentimental/ historical reasons?

Very much so, unfortunately. A close family member has said how much she wants us to build and live there 'and that's why is was left to you, to keep it in the family.'

Extended family want it kept 'in the family' too. But it wouldn't be their money and stress!!

1 or 4.

I would never sell land.

FAQs · 05/12/2021 09:55

Is it mortgageable or just for cash buyers?

BlackAmericanoNoSugar · 05/12/2021 09:57

Have it valued, offer to sell it to family first. You might even offer them a small discount if you like, given that you won't be paying estate agent fees. If they don't want it then sell it.

Did it say in the will that you were given it in order to keep it in the family? If not that's just someone putting their own interpretation on it and has no relevance to you. Even if it did say that in the will it was still a wish not a condition and it's yours now. You can't be forced by the terms of a will to do something that you don't wish to do.

Twiglets1 · 05/12/2021 09:58

Sell it as is and don’t feel pressured by the emotional blackmail. It’s not up to other people to dictate where you will be living

clairethewitch70 · 05/12/2021 09:59

If it is uninhabitable it may be classed as abandoned. Very difficult to get planning outside settlement boundaries

521Jeanie · 05/12/2021 09:59

It's not a location DH or I would choose to live, either

Why are you even considering it then? All that hassle to build a dream home in an area you don't want to live in!

If you want to self build, then sell this plot and buy one somewhere you DO want to live.

If you don't want to self build, sell the plot and buy your dream home wherever that might be!

Hopefully the plot will be someone else dream!

LethargicActress · 05/12/2021 10:00

Offer to sell it to the extended family and put the money towards your dream home.

Don’t sacrifice what you’ve been working towards for the sake of a vague nice idea in other people’s heads. It makes no real difference to them, but it’s yours and your DHs entire lives.

Pinkdelight3 · 05/12/2021 10:05

@Bluntness100

I think the fundamental question is do you want to live there?in that location?

Clearly building and having a one acre plot is generally going to be much cheaper than buying a house with a one acre garden, so for me, it comes down to do you wish to live in that location .

She clearly says in the OP that they don't want to live there.

The only realistic options are 2 or possibly 3 if that won't take too long.

Ylvamoon · 05/12/2021 10:09

Opion 2 or 3 depending of cost v gain for the planning permission.

Option 5 could be a prefab house for living / rent / sell. Again, you would have to consider ALL cost v gain carefully!

EdgeOfTheSky · 05/12/2021 11:51

Did you miss that the current state is inhabitable? The OP will need to do significant work to get it in to a state it can be rented out

Oops. Guilty as charged.

PurBal · 05/12/2021 11:53

Rent it out. You can pay someone to manage it. Could provide a nice extra income.

FurierTransform · 05/12/2021 11:57

I'd just sell it. You're presumably not in the market for buying parcels of land, getting planning & flipping them, so no need to start now.

Grimbelina · 05/12/2021 20:32

We had a similar situation, we sold with the prospect of planning for considerably more. You can usually have a meeting with the local planners and ask what they would be open to. If there is the possibility of planning then I would get an (perhaps local) architect on board and explore how to maximise the potential of the site. If the planners say no, then sell as is (and no need to share that info.).

parietal · 05/12/2021 22:52

Option 2. Don't let the relatives guilt-trip you into keep in an impractical property in the wrong location. Don't spend massive amounts of time / money on planning / development etc unless you really want a new career as 'property developer'.

Put it on the market quickly, let relatives offer if they want it, and hope the sale goes through smoothly.

hashhhvi · 05/12/2021 23:00

The first question is do you and your partner want to live in this location? If yes, then I will build my dream house on the land. If Not, sell on. You can add value if you get Planning, but you will spend few thousands likely for an Architect to draw something up. You need to do the math and see if it's worth it. Talk to local agents.

YourenutsmiLord · 06/12/2021 06:33

Be grown up about it - speak to planners, builders etc
Don't rush, give it several months to decide.
Perhaps several homes could be built so more valuable than you think - perhaps a builder might want to pay a good price to put several dozen houses on it.

UntilYourNextHairBrainedScheme · 06/12/2021 07:50

Sadly inheritances with emotional blackmail attached - or even more commonly the manipulation tactics of spurious claims that the deceased person "would have wanted" something that actually by huge "coincidence" is what a manipulative still living relative wants - is incredibly common.

Absolute minefield to be left anything someone else can use to manipulate you with, and always cleaner to just sell, otherwise it'll be used to manipulate you forever (relatives will always believe they have emotional, if not legal, rights over something they can claim sentimental attachment to).

SuperSange · 06/12/2021 09:34

Could it be possible to do something with it to rent out so you can keep the land? I get that you don't want to live there but I'd never sell land.

senua · 06/12/2021 09:49

If this property is so important to the family, how come it's uninhabitable? Get them to answer that.

It's probably worth exploring the possibility of PP. Many Councils are under pressure to get more homes built so they might go with the idea. Consult a professional to see what would be the most profitable route (maybe more than one house, it's a big site).
Alternatively, you can get your solicitor to draft a contract so that if your buyer does a development then you get a share of the uplift. It will be less profitable but less work for you.

In summary, (3) or (2).

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