Locating a Plot of Land For Sale
Before the advent of the World Wide Web (WWW), locating
plots of land for sale often proved a long, tedious
process. Self build has helped drive the market forward,
no longer does one have to wait for development companies
to build property, it is possible for anyone to buy
a kit house, or hire an architect to make their dreams
a reality. The Web has helped unite the service provider
(architect, builder, kit house vendor) with the customer
like never before.
Investment in property has rocketed in recent times,
with returns of 300% often being seen on self-build
projects. Plots of land are increasing in value, but
for those prepared to take the risk of seeking planning
permission and building their own home, the returns
are far beyond those of most other investments. Land
investment can provide a long
term investment, supplement your investment portfolio
or be purchased speculatively and could achieve gains
of 300% or more once planning permission is acquired.
Plot sales as an investment, usually follow traditional
property prices. Undeveloped land is getting more and
more scarce as more houses are needed to solve the
housing crisis. This is helping to push up the cost
of land.
Calculating the Value of Plots of Land for Sale
The value of plots of land for sale can be found
by identifying similar sized plots that have already
been developed. The land should equate to approximately
35-45% of the market value of the entire property.
Take for example - a three bedroom detached
house on a plot of 0.25 acres, priced at £265,000.
The plot value would be approximately £106,000.
The percentage value will vary between locations but
this would give a rough guide to potential local land
prices. Don't forget that a building
plot with planning
permission will be worth substantially more than a
plot of land with no permission. Ease of planning permission
can vary widely between locations.
PlotWorld lists property with and without planning
permission. Please check with the vendor / agent as
to whether the building plot has planning permission.
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