Many homeowners are exploring selling off parts of their gardens to specialist developers or neighbors, with a 50% increase in enquiries reported by firms like Caswell & Dainow in the past year. This trend is largely attributed to the cost-of-living crisis, as individuals seek to access significant sums of money. Depending on the local housing market, homeowners could receive $30,000 to $60,000 for a small plot in lower-value areas, or up to $400,000 in higher-value markets where typical homes sell for $1.5 million, especially after planning permission is secured.
The process of selling garden land can range from a quick sale to a developer before planning permission (lowest price), to a "subject to planning" offer, or the homeowner applying for planning permission themselves (highest price). However, selling land can negatively impact the value of the remaining property, particularly if it affects privacy, access, boundaries, or makes the garden disproportionately small. Lenders must also approve the sale if a mortgage is secured on the property, as it reduces the value of their collateral.
While selling part of a garden offers financial benefits, it can lead to significant issues. Neighbors might oppose development due to concerns about increased noise, reduced privacy, obstructed views, or construction disruption. Additionally, some homeowners have discovered they don't legally own portions of their long-tended gardens, as seen in a case in Long Eaton where residents were asked to purchase land they had been "trespassing" on for decades, with plots costing between $1,500 and $10,000 depending on size. The concept of "landmaxxing" – buying adjacent land for privacy and space – is also gaining traction among affluent buyers, highlighting the growing value placed on land.
