How Much Is Your Land Worth?
10 January, 2019NewsAuthor: ian
One of the most common questions from landowners is 'how much is my land actually worth to a developer?' - get your answer with the help of our expert Land & New Homes team.
How Much Is Your Land Worth?
The value of your land is actually dependant on a number of different of aspects. Our specially-trained land valuers will take all of the below factors, and more, into account when valuing your land.
- Comparable Sites - We'll look at other nearby sites with planning permission and how much these have sold for to get a general idea of the rates in your area. However, this is just a rough estimate. Different sites have different values - it's not necessarily a case of a 2 acre site sold for £1m so your 4 acre site will sell for £2m. Terms of sale, unique characteristics of the site and varying house prices in the area can all have an affect on your valuation.
- Site Specific Calculations - The second stage to valuing your land is much more detailed, looking at your site and its unique traits itself to get a better, more thorough estimate. This includes looking at factors such as what completed developments could sell for (the Gross Development Value), how much profit the developer needs to make and how much it will cost to build the development. This method involves a lot of work, looking at every aspect of your land and making specific calculations - but it will help to make an accurate valuation.
Looking to sell your land? Our Land & New Homes team are more than happy to help give you a valuation and talk through your options - simply give us a call.