Buying Land for Sale
There are several reasons why people buy land - including land investment, building land for sale, property development or self build land for a self build home.
Two factors have brought about an interest in buying land - the low stock market and the rising property market. Investors want to put their money in a tangible product that has the benefits of property but without the full expense of buying a house.
Self builders are increasing in numbers each year as more and more people realise the benefits of self building, including the financial rewards at the end.
Things to consider when buying land for sale, for investment or self build:
As with housing, location is king with South East England remaining a hotspot for development.
- Site Access
Do not take it for granted that the land for sale will have access. Land may be surrounded by other plots with no access and is known as being land locked. Ransom strips are a small strip of land between your plot and a right of access that is not owned by you. The costs to allow you to buy, or be allowed access over the strip can be high. A solicitor will know to look out for these, so be wary of companies that advise against using one.
- Road Access
Land for sale that has immediate access to a “B” road and are in close proximity to an “A” road are desirable.
- House Prices
Land for sale UK accounts for approximately one third of the value of a house. This can give an indication of the value of the land once planning permission is granted.
Land supply is limited and with an insatiable demand for housing - especially in the South East around London - we believe prices will continue to rise in the long term.
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