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Turning Worthless Land into a Profit

Land SalesWhen it comes to prime land in the UK, east of England is it, especially for self-builds. In fact, the land you will find in this part of England is flat, has rich soil, and offers lots of space. Today, finding suitable land for self-build in the area around London has become a serious challenge. The problem is that the majority of the land in this part of the UK is rocky, does not drain well, and makes access for workers difficult whereas in east England, you have excellent land.

While the land in east England is perfect for self-build, it too comes with a challenge - finding it. In fact, if you were interested in land for self-build, you could expect to be looking anywhere from one to three years, depending on the amount of time invested in the process and the exact type of land being searched. However, most people interested in self-build not only want excellent land, they also want land that is accessible and offers some degree of privacy. Now, when you add all of these factors in, you can see why finding the land is so difficult.

Another challenge for the individual who wants to self-build on east England land is the fact that developers are competing for the same plots of land. Even so, we see in cases of single property the individual being able to outbid simple because the private buyers do not have to factor in profit. Today, developers across this part of the UK are very savvy when it comes to buying plots, specifically plots of land that must meet the government's large house building targets. In addition, these developers know that road and rail links going between the Thames Gateway and East Anglia in the eastern region of London will see vast improvement in the next decade.

Factoring in all the challenges and the competition, we still see land prices in east England staying about 20% lower than plots located more to the south. For this reason, the eastern region has become a prime target for both the individual self-builder and the high dollar developer. Keep in mind however, that with this growing popularity, we see a definite trend of architects being hired to design property to go on the land. In addition, owners are obtaining planning permission for the construction of that design, which means when they sell; the approval is already in place.

Look at central Norwich for example. There at Three Tuns Court, you would find a plot of land with a starting price of ?160,000. For this price, you would be putting a large portion of the money to the consent existing on a contemporary home with a three-storey, two-bedroom design. In this case, the architects would do the design to include incredible detail such as a roof garden, double car garage, glass materials, and so on. However, the selling agent obtained planning permission just to show that even a small plot of land and one with not much appeal could still attract a self-build or professional developer.

With something such as this, the self-builder could forego the application process and just look for permission in another type of home design. However, the purchase price of the land would not be much of an incentive if the builder had to pay again through the planning process, which is both time-consuming and costly. For people looking for something a bit more modest, especially without existing planning permission but yet a plot of land in a location where a home could be built by local planners, you run into yet another challenge. In this case, you would need to determine the owner of the site. Interestingly, a large number of land give over to crops and grazing in east England also quantifies it as boundary areas between different owners, making things uncertain. In fact, some areas are identified by self-builders as possible building sites.

These agreements, which are not made official, can sometimes be found between farmers with adjoining land. For instance, you would have one of the farms using a particular field one year and then the second farmer using the field the next year. Now, if a self-builder were interested in purchasing such land, then obviously, disputes between the real owners would have to be determined before things could progress.

For this, the self-builder would have to approach one or both of the landowners to determine if any portion of the land would be sold. Keep in mind that in addition to local farmers possibly having east England land for sell, there are other factors associated with finding and buying land. For starters, you would want to register with the local land and estate agents' offices, which would have reliable websites for you to investigate. Just remember that many such offices are not and will not get planning permission. Instead, they will tell you that the land may "one day" be allocated for housing but you need to do your homework carefully in that you might get stuck with a piece of land on which you can never build.

Even though there are agencies that will steer you in the wrong direction, others are reputable and upfront about the prospects for planning permission. In fact, this honesty benefits everyone, which is why you will now find websites where small advertisements from individual sellers are placed. Just log onto www.selfbuildabc.co.uk and look at the various listings. Just keep in mind that because planning permission is usually already obtained for these listings, you will pay good money.

Another excellent place to look is at www.buildstore.co.uk. There, you will find a large number of plots in east England being marketed by professionals along with individual landowners. In fact, you will find hundreds of opportunities. For these plots of land, many already have planning permission too although some do not so read the information carefully so you know exactly what your money is buying.

Now, if you are looking for land you have yet a third option. In this case, place an advertisement in the paper describing the type and size of land you want. In addition, read other advertisements in that sometimes, people will place an ad for land for sell. Finally, if you do not mind living near an existing housing development, get in touch with local developers. Many times, these developers have a database of land, homes, or people who would be willing to sell a small portion of land. As you can see, finding land in east England does mean spending time looking but if you are persistent, you will be amazed at what you can find.

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