With councils and the government offering more and more encouragement to people trying to build their own homes, there has never been a better time to sell your land.
If that’s something you’re thinking of doing, how you go about selling your plot can have a dramatic impact on how quickly you sell – and the price you can achieve.
Here are the things you need to think about.
There are two main ways to sell your land – with planning permission, or without planning permission.
Selling a plot with planning permission usually results in the highest sales price, as it removes risk for the buyer and gives them certainty as to what they can build. That could be an “outline” planning permission that simply approves the principle of development and perhaps a few broad details (like the scale of the home); or it could be a “detailed” planning permission that approves the exact design of the home.
Getting planning permission before you sell your plot will get the best value - but it might mean you investing some money upfront.
If your plot doesn’t already have planning permission, you can try to secure it yourself although that does involve some upfront cost. You’ll need an architect to sketch some plans while for more difficult plots you might need support from a planning consultant. It’s also worth bearing in mind that it can take several months before a planning permission is finally issued.
Alternatively, you could avoid that expense by simply marketing the site for sale “as is” and leaving responsibility for securing planning permission to the new owner. This usually results in a lower sales price, but doesn’t involve any upfront expenditure on your part and can be quicker.
If you decide to sell your plot in this way it’s possible to agree an extra payment when the buyer eventually gets planning permission. This is usually known as an “uplift” or “overage” payment, but would still be for less than if you secured the planning permission yourself. You would also lose control of when and if a permission for redevelopment was granted.
Before you list your plot for sale, gather together as much information about it as you can so buyers know exactly what they're getting.
Whichever route you choose, you’ll want to make sure you gather together as much information about your site as you can. Photographs of both the site and the immediate surrounding area will whet the appetite of potential buyers. Technical information like copies of any plans and details of any pipes and cables crossing the site will help buyers understand if the plot could work for them.
When you’re ready to sell your plot, listing with MyPlot is completely free. All you need to do is fill in this simple form and we’ll produce a listing page for you. Any enquiries will be emailed straight through to you, so you can speak direct to the potential buyer.