When it comes to buying land, our experienced team here at Bromley Property Company can help with a number of things, from feasibility studies and development appraisal, right through to acquisitions, planning management and consultancy.
Buying land to build on can seem very exciting in comparison to buying a ‘bog standard’ house, and you can see the attraction for many people of being able to build their own home or business exactly as they would want it. But if you’re looking to go down this potentially daunting route, then what exactly do you need to know?
We share our guide to buying land here…
1. Why are you buying the land?
Perhaps you see land as a good investment for the future or perhaps you want a site to build your own home, or become a smallholder? It’s really important to outline your long-term plan for the plot you hope to buy, because it will determine what kind of land you go for, where to buy, and what kind of budget you have to play with.
2. See what types of land are currently on the market
Greenfield land, which has never been developed, is obviously very different from brownfield land, which has been built over previously. They are two distinct markets and are often subject to different planning requirements. Land values can vary greatly depending on location and the quality- you need to develop a feel for the market and what it is reasonable to pay for a piece of land. Our team at Bromley Property Company can help advise you when it comes to this.
3. Shop around
There is usually plenty of land on offer at any one time, although not all of it is publicly advertised- you need to know where to look. Land auctions are certainly another option, if you are prepared to move fast, but also keep an eye out for other potential sources, such as homeowners happy to sell a piece of land which is already on their property.
4. Focus on location and its potential
Location is still as key to land as it is to bricks and mortar properties- land which is within easy reach of good transport links will be more appealing to potential buyers than land that is deemed far away from them, and will be priced accordingly.
5. Establish whether you will need planning permission for any building work
Some plots of land are sold with planning permission already granted, (although this is often only ‘outline’ planning permission) – you should always contact the relevant planning authorities for more information buying deciding to make an offer on a piece of land. Always appoint a solicitor with expertise in this particular area- it will save much money and heartache further down the line.
6. Be sure to get the land properly surveyed
An empty field may not look as if it needs a proper survey, but there are potential hidden problems with land purchases, including boundary and rights of way issues through to flood risks. Always seek professional advice from a chartered surveyor.
Buying land can make a lot of people feel out of their comfort zone, but if you do your homework and seek the right professional advice, then you can really reap the rewards further down the line! Call us today to discuss your land needs, and keep referring back to this guide to buying land.