Buying a site to invest?

booksale

Hi we have the opportunity to buy a house plus the land next to it. It’s in the rural area in north cork but it’s just 10 mins drive to motorway and 50 mins to Cork city.

We have options to either buy the house or buy also the land with previous outline planning permission next to it with extra 25/35K.

Do you think it would be good to pay extra to buy the land then sell it out to make profit?

davo10

You need to confirm that you, or a buyer, will be able to get full planning. There are all kinds of regulations in local development plans which may prevent anyone except the current owner from obtaining planning. If you can't get planning, you will be spending €35k on a garden.

Go into the planning office and ask about any restrictions and if you submit an acceptable house plan, is it likely to be accepted.

booksale

Thanks.

Is the previous outline planning permission an indicator that it’s easy to get FPP?

davo10 wrote: »

You need to confirm that you, or a buyer, will be able to get full planning. There are all kinds of regulations in local development plans which may prevent anyone except the current owner from obtaining planning. If you can't get planning, you will be spending €35k on a garden.

Go into the planning office and ask about any restrictions and if you submit an acceptable house plan, is it likely to be accepted.

davo10

booksale wrote: »

Thanks.

Is the previous outline planning permission an indicator that it’s easy to get FPP?

Depends. You need to find out:

How long is left in planning.
Any conditions attached to it.
Can planning be transfered.
Is there a residency clause.


You need to go down to the planning office yourself and talk to the planner for that area. Explain that you are considering buying the site and ask if there are any restrictions, follow this up in writing to get written confirmation of whatever was discussed. Without planning this is a field which will be worth damn all.

booksale

The extra land is 25k extra. The outline planning permission is expired and the recent one is not granted. The reason is that the council knows the people who applied are not going to build a house but to sell it. There is a new rule now that only a person who lives in the area for more than 7 years can get a planning permission. And the planning permission can’t be transferred from one person to the other.

I think there will be chance to sell it. But I wonder how much more we can earn and whether it worths the hassle and the risk. We might end up just to pay the extra for a bigger garden which most likely we don’t need.

Glass fused light

booksale wrote: »

The extra land is 25k extra. The outline planning permission is expired and the recent one is not granted. The reason is that the council knows the people who applied are not going to build a house but to sell it. There is a new rule now that only a person who lives in the area for more than 7 years can get a planning permission. And the planning permission can’t be transferred from one person to the other.

I think there will be chance to sell it. But I wonder how much more we can earn and whether it worths the hassle and the risk. We might end up just to pay the extra for a bigger garden which most likely we don’t need.

If this is going to be your forever home and you plan on childern having the ability to have one build and live next to you into old age is worth thinking about.

Whats on the other side of the site/garden?
Some councils have a rule of no more than x houses on xm of roadway (I think its 5 in 200m but not sure).
If the person on the othe side jumps in first, they might effectively sterilise your site.

Also worth considering that buying the site will give you a lot extra privacy, as well as a potential investment. You and your family would regret not buying if it gets sold and somebody builds a monstrosity overlooking your place afterwards.

booksale

Yea we have thought of that. But the price of the house also include a very very big garden itself and it’s enough for another house if we wanna build. But probably then it would be a bit too crowded and lose the privacy.

I just am scared of the work that involved to maintain such big piece of land.

Glass fused light wrote: »

If this is going to be your forever home and you plan on childern having the ability to have one build and live next to you into old age is worth thinking about.

booksale

Thanks for the input. The other end of the site is another domestic house on a 0.75-1 aces of land.

[Deleted User] wrote: »

Whats on the other side of the site/garden?
Some councils have a rule of no more than x houses on xm of roadway (I think its 5 in 200m but not sure).
If the person on the othe side jumps in first, they might effectively sterilise your site.

Also worth considering that buying the site will give you a lot extra privacy, as well as a potential investment. You and your family would regret not buying if it gets sold and somebody builds a monstrosity overlooking your place afterwards.

the_syco

Look into "local needs". It basically means that unless you have connections to the area, you don't get planning permission. Can make it harder to sell, as the buyer may not be eligible for PP.

Glass fused light

booksale wrote: »

Yea we have thought of that. But the price of the house also include a very very big garden itself and it’s enough for another house if we wanna build. But probably then it would be a bit too crowded and lose the privacy.

I just am scared of the work that involved to maintain such big piece of land.

The problem with being crowded is that you will have a change in privacy after 20+ years of having no close neighbours, and you and the child's partner better be good friends. If you buy both think about moving the driveway so that it could act as a shared drive but is in between each site
Then Just plant a slow growing hedge and do a wild flower meadow on the other site and have some cattle or sheep in from the local farmer to ear the grass and you could even extend it by fencimg off some of the garden of the house and reduce the size of the existing garden.

If buying to sell, if planning has been refused the conditions attached to the refusal are very important. It's unlikely that is was just that the applicant was believed to be a speculator, but as you too are planning to speculate and are currently housed you are unlikely to get planning either and you are then dependent on the buyer getting the planning as a condition of sale. Each /any additional refusal is likely to have additional refusal points and resulting in an unsaleable plot.