homeowners happy to sell a patch of land at the edge of their property. But you should also be alert to other potential sources of land, e.g. Land auctions are another option, if you are prepared to move quickly. There are specialist land agents dotted around the country, too. To start your search, visit the OnTheMarket website. There is usually plenty of land on offer at any one time, although not all of it is publicly advertised. You need to develop a feel for the market and for what it is reasonable to pay for your piece of land. “There is a large variation in land values being achieved at present, ranging from £5,000 to £15,000 per acre, depending on location and quality,” says Michael Fiddes, Head of Estates and Farm Agency at Strutt & Parker. They are distinct markets and, in some respects, subject to different planning requirements.
Greenfield land, which has never been developed, is different in character from brownfield land, which has been built over previously. Familiarise yourself with the different types of land on the market You certainly need to have some long-term plan for the plot because it will determine what and where to buy. Perhaps you want a site to build your own home, or perhaps you want to become a smallholder. Perhaps you see land as a better investment than stocks and shares or other assets. Be clear about why you are buying the land OnTheMarket has these 10 top tips on what to consider when looking for land. If you’re a first time land buyer, the process of buying the right plot can be quite a daunting task. It can also, potentially, be just as lucrative. You feel as if you are acquiring your very own share, however small, of Planet Earth.Īnd although there are a few pitfalls, purchasing land is generally simpler than purchasing property.
Buying land can be far more romantic than buying bricks and mortar.
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