How to Value Garden Land?

The land’s location will impact its market price. If the land is located in a rural or less desirable location including those with high pollution, the valuation will be lower. This is in comparison to garden land in a popular, sought-after area. The valuation will consider amenities in the surrounding locality. This includes roads, public transport links, and schools.

Size is a significant factor during the valuation process. The cost of garden land is measured in meters squared. Larger properties and plots of land will be more expensive compared to smaller gardens in the same area.

The property value of the houses next to the garden land is considered. Recent sales in the area can also affect the valuation of the land. The age of surrounding properties can also have an impact. Older structures can decrease the value of land compared to new build properties. This is due to structure deterioration and whether the area is unkempt.

Zoning is a term used to describe the purpose of the land. This can encompass uses such as residential, commercial, and agricultural.

If the land can be used for development, it will typically increase its value. The land will be more attractive to businesses and can be used for profit. Planning permissions and regulations need to be taken into consideration by potential buyers. Regulations will include land use, premise level, floor area ratio and land tax. This will impact the valuation price.

Agricultural land and areas that cannot be developed on are still sought after, but they’re not as popular. Garden spaces that can be converted to off-road parking are particularly sought after.

The condition of the land is important. The better the condition, the higher the land will be valued.

Land records are essential when selling garden land. They provide key information to the buyer about the boundaries and ownership. These records can be used for any potential disputes surrounding the land and how it can be used.

Ensuring the land’s topography has been considered is another important factor. This will highlight any potential issues with the land. This can include the overall slope, drainage and soil quality. These are aspects buyers will need to be aware of. If the topography is poor, the value will be lower and the land less desirable.

The comparable method looks at and compares sales of land in the local area. This can also be referred to as the sales comparison method.

The Marriage Value will determine how much the value of a property will be increased when the value of the land is added. If land is being sold the value of the land will need to be taken off the property value. It is also known as the cost method.

As a seller, having a land valuation will ensure you are selling the land for the correct price. It means the land won’t be sold for less than it should be. A correct valuation is also important if Capital Gains Tax, Inheritance Tax or Stamp Duty Land Tax need to be considered.

When buying garden land, a valuation will ensure they are paying the correct price for the land and aren’t being overcharged. A piece of land that has been valued correctly will be more trustworthy from a buyer’s perspective. It will also allow them to make an informed decision.