Releasing value from unwanted garden land can be a great way to generate funds to pay off your current mortgage or boost your pension pot.
With greater life expectancy and potentially a pension having to stretch further, looking at your property as a way of boosting income could provide that “Pot of Gold”. Downsizing, equity release schemes, or renting a spare room are not, however, for everyone. Instead, selling off excess garden land could enable you to remain in your own home. Planning authorities can be supportive of such ‘windfall’ sites coming forward for development but certain site characteristics will increase the likelihood of planning permission being granted. Side garden plots with a road frontage can often make development plots. Occasionally rear gardens can be suitable provided vehicular access can be gained from the plot to the road. Close proximity to shops and schools are also desirable factors.
At Batcheller Monkhouse our Chartered Town Planners regularly advise private individuals on the development potential of their land. We will always give you an honest opinion on the likely chances of success and the costs involved. Our Estate Agency colleagues are also on hand to offer advice on the value of a plot, and any associated reduction in value that a development might have on your current home.