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    House Buying.... Valuation problem

    Hi

    We are currently under offer and looking for a property, we found one but a search of the planning shows a huge development of 1100 houses, close to the house we like....

    not in the back garden but the field views wont be there anymore....this development will have a new school, recreation area etc, however I am concerned we would lose value on the house once all these houses are built...

    When I raised concerns with the agent, I just got the brush off "houses are only worth what people are willing to pay for them"

    However if a house has field views, now suddenly there are a 1000 houses on said fields that surely affect the value?

    15 Comments

    Banned

    But on the other hand it's right next to a school. Ideal for some. You can only speculate really, nothing is certain in the property market.

    Depends on the area, depends on the value/quality of the houses being built, depends on the new amenities being built, depends on the value/quality/condition of the house itself.

    There's a lot of variables beyond 'field views'.

    do you want to have an estate in your back garden ? if not then look elsewhere . if you don't mind then what Mr scotch said

    More importantly will this new estate exit through the front of your house? A thousand people going to and from work quite quickly turns your nice street that kids can play on into a main road. For this reason I usually give more consideration to dead end streets when we look

    the estate agent is right, things are only worth what people are willing to pay.

    1000 house 25% will be social housing... good luck....

    Original Poster

    djt100

    1000 house 25% will be social housing... good luck....



    20% apparently, looking at the map it looks like the posh ones would be near this house

    Banned

    Aeschylus

    20% apparently, looking at the map it looks like the posh ones would be … 20% apparently, looking at the map it looks like the posh ones would be near this house


    http://2.bp.blogspot.com/-LU4LcCFt5Gc/TyDMswDEcDI/AAAAAAAAAFU/d3AmX6A1MrU/s1600/chav+boys.png

    djt100

    1000 house 25% will be social housing... good luck....



    ^^^ Wot he said. Make a cheeky offer of what YOU think the value of the rural aspect will shortly disappear. If you get the price low enough, a tidy-up, a quick lick of paint all round and back on the market at closer to (or even more than) the priginal asking price.

    Aeschylus

    20% apparently, looking at the map it looks like the posh ones would be … 20% apparently, looking at the map it looks like the posh ones would be near this house



    that's a silver lining at least. ignore the agent and that there are fields there now; are you prepared to pay the same price for views of houses? if not, lower your offer.

    the more immediate concern is that you will have a building site on your doorstep for a few years.

    Banned

    I think deep down you know you are going to decline this property OP, and you were just looking to see if there was anyone to talk you out of it.

    Probably the right choice.

    Original Poster

    MrScotchBonnet

    I think deep down you know you are going to decline this property OP, and … I think deep down you know you are going to decline this property OP, and you were just looking to see if there was anyone to talk you out of it.Probably the right choice.



    Yeah, I dont like buying a house with a unknown.....it is a real shame in todays world now, unless you buy a house in a built up area then the land around you is never safe anymore

    I would say that for every negative there will be a positive, new school, improved infrastructure, jobs....prices sky rocket... but I live in a tent in a wood so don't take me as an expert!

    upset brown pant

    the more immediate concern is that you will have a building site on your … the more immediate concern is that you will have a building site on your doorstep for a few years.


    My thought exactly, why would you put yourself through it if you don't have to.

    The agents right though. If you or someone else is willing to pay the asking price then the house is worth that price. You could look at a cheeky offer offer but the risk is that they decline and accept someone else's offer. If the view was a key element of you buying, which undoubtably it was, then I would keep looking. It's annoying for sure but that's house hunting for ya!
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