When people say Location, Location, Location...

[Mike Mitchell]

That's no excuse! I need a buyer!! (Actually, I had a nice couple around this evening. Looks promising!)

MM

[Dave Plowman (News)]

[David W.E. Roberts]

Apart from the usual b*ll*cks about tearing it down and building another house, nobody seems to have picked up on the size and complexity of the property.

For me, the property sounds wonderful - but I like outbuildings and lots of land.

Sadly, certainly in our area, now a large garden (unless it can be split off for a building plot) is seen as a liability instead of a bonus. [When we bought about 20 years ago the survey said that the garden was small for this type of property. Now we are looking at selling the garden is classed as a 'good size' (always allowing for the difference of viewpoint between surveyors and estate agents).]

AFAIK there are several reasons.

People want low maintenance living, and do not want the commitment of a large garden.

More and more people are buying as an 'investment' and looking at the rental potential. Again the maintenance of a large garden is seen as a problem. Tenants are unlikely to want to do this, so you have to employ a gardener to keep the garden looking good.

Bungalows especially attract 'mature couples' who again are more likely to want minimum maintenance.

It would be interesting to see what the valuations are now.

There have been changes in the focus of planning and people are being actively encouraged to split plots and build new houses crammed together in little urban ghettoes. A house near us is building threee bungalows in the back garden - and the plot isn't that large, just large enough to get an access road down the side. Another bungalow on a double width plot is scheduled for demolition and replacement with two houses. A house near us is priced at about £75K above what you would expect, but the garden is long and there is enough width to build an access road, so we think it is being priced with the building plot factored in. The up market small estate built near us about 5 years ago has large houses on tiny plots. I would not consider this type of property but they all sold remarkably quickly.

I suspect that you may find that your valuation has soared, not to IMM the property but to knock it down and build two or more new properties on the site.

In fairness, there are instances where it makes economic sense to knock down a property and build new. Usually this is where the original property is in poor condition or a very poor design, and the general location will support a property with a value of (original purchase + demolish/build + profit). However this is not a general rule; in many areas the difference between an established property and a new build will not cover the cost of rebuilding. In many cases the cost of an extension will offer better return on investment.

So enjoy your nice house and large plot - should you change your mind about selling then I know someone who might be interested :-) Although I suspect that the value may well have rocketed out of our reach :-(

Cheers Dave R

[Martin Angove]

Sorry for the tardy reply... have to say though, it is the *cheaper* house which has the bay. The second doesn't and opens directly onto the pavement too.

Hwyl!

M.

[Martin Angove]

As of today (14th July) they both still have "for sale" signs.

Hwyl!

M.

[raden]

In message , Mike Mitchell writes

You mean like this ?

[raden]

In message , IMM writes

No ... you'll have the choice to send your kids to the local crappy school or a better one 150 miles away