Don’t need advice on if it should have come back on searches. As they were done back in Sept. This new developer purchase didn’t come up on searches.
I’d been following the local community pages of the village to the area we would be moving to as anyone would avidly ever since the offer was accepted and they conveyancing and coming up to this month.
Knew of A potential development being put forward earlier last year, further up the village, that’s finally got approved this week. This didn’t matter to me as it wasn’t near the property.
BUT As far as I can see, not the same development company. But another one. Has literally just purchased before Christmas the farmers Field Next to the property adjacent to us. At this property, I meant to be exchanging and completing on this month.
It’s hit and miss if they will get planning permission. Because of where it’s situated and the fact there are more of the village that would be affected and I can see a lot of of them are attending meetings in the coming weeks to oppose it on the local community pages etc.
My situation is, I have to move. I’m in temporary rental situation and I don’t have time to be looking for another place to buy. Like I literally don’t have the option to re start a search.
This is also a home move to a new area for us. A few hours away from where we are now, waiting for the purchase to go through.
What the property itself has to offer means a lot to me. This is why my immediate reaction is hesitant to pull out like others could potentially.
The fact I can convert its garage, convert a stable structure at the end of the garden at this property later on as a home office or gym or whatever. But the property also very uniquely comes with half acre paddock beyond the garden. Something that was super important to me as I am predominantly home based with my young daughter and have two large dogs, a solo parents. It just made my life a lot easier to have this extended outdoor space to be able to exercise both the dogs my daughter and to enjoy some external extra space for us to enjoy. For the price the property you just would not find a property that has this much extra external space which is super important to me and us in the now and long term.
Also the amenities in the local area and town tick all the boxes for us.
The house is a three bed semi detached. Just with the added bonus of such a great private overlooked garden on all sides, and like I said the paddock beyond that. I’ll try to post Some images later when my daughter’s gone down to bed to give a better insight as to how the house is situated in relation to what could be potential future housing development adjacent to our neighbour, the farmers field adjacent to them.
Our semi detached house and the garden would luckily be shielded to what I feel a good certain extent from this potential (if they ever get it approved) development as the garden etc is very shielded. And of course we have them being adjacent to us who sadly for them I know would bear the brunt of this potential development.
Their property has views over this farmers field, so I do feel for them. Our property doesn’t have used over the farmers field, So it wouldn’t totally affect us in that way. But of course it was an attraction to the property that there were farmers fields that I could extend our dog walks onto. But at the end of the day, we all know, Agricultural land is being built on more and more, so you can’t expect that to be there forever. Luckily, there are further farmers fields beyond this particular one which would still provide a nice countryside disposition and walking routes. Which a few of them will likely never be built on As I know one or two of the neighbours in the village I’ve actually purchased some of them to stop them ever being developed on. Good thinking on them!
I’m fully aware and totally comprehending what a potential housing development would mean noise and dust wise. In my times gone past I used to live in central London in my younger adulthood. Not far from Westfield in west London. And had to endure a long tenancy Working from home with a whole apartment block being built with an eyesight from our windows. So I’m prepared for what commiting to a property like this could entail.
But I’m looking at the long-term with this decision. And the fact that yes there could be a development we’d have to live through being built nearby. But we will still have the great property and garden and amenities nearby that I really desired and are hard to find elsewhere.
So part of me doesn’t want to pull out at all. And the fact, I’m stuck between a rock and a hard place that I don’t have the time at such a crucial time in mine and my daughter‘s life To carry on renting anywhere and restart a property buying search. When I have searched high and low and there really isn’t anything else that offers what this property offers for the price it is.
My question is; What type of price reduction would you go to the agents about in regard to this news that has now come about. The vendors are 100% wanting to move and would not want to put the property back on the market, especially Nownow. It would come up as buyers beware with this potential development being proposed.
The offer accepted price was 715k
I’ve spoken to the agents and voiced to my concern, They’re speaking to the vendors. The agent asked me did I have a price reduction Amount in mind. I said I was seeking advice. I said to them to speak to the vendors and get back to me on what they would consider if they would.
I don’t want to take the mick on this, As I really do want to move to this property and need to (They don’t know this, As far as they know I have options and could just carry on a search for a property that doesn’t have a potential development in the pipeline nearby).
So what would you go back with on a price reduction suggestion?
I feel it it’s fair to have some sort of price reduction to compensate for how this might interrupt our life for a period of time if it does get accepted (The potential property development). As I’m sure anyone in my position would do the same. If not Many would probably walk away. But as for my reasons noted above, I don’t want to walk away as I’m looking at the long-term For our life at this property.
There is also the bonus (a surveyor friend I spoke to) after taking the sacrifice of potentially having to deal with a development being built nearby and all that entails. That if I ever wanted to put a structure on the paddock at the end of the property boundary (Which meets a boundary of the farmers field that may get development). We would very likely get planning permission for that because of Said development. And later on as a long-term investment or just a long-term option This could mean we could build something for ourselves in paddock area. Or when we decide to move, which would be a long time away (As I want this to be a good long Home for us and my daughter’s childhood) But that we could potentially sell the property one day with the selling points that the paddock could have or I could apply for or would’ve already done; Permission permissions for a structure in the paddock. So if I think of the long-term there is that silver lining Maybe later on.
Sorry, this was very long-winded! Trying to type this with a toddler in tow 🥴