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Despite a developing trend in the market towards simpler, more easily managed properties, which very often translates into increased demand for properties in town and villages, the allure of buying a rural property with a few acres endures. There are a number of reasons why ownership of land remains popular. Richard Addington, director at Exeter, offers his views...
Ownership of land was historically a signifier of wealth and power and whilst there are now many more convenient ways in which to hold assets, owning land is nonetheless a useful way of protecting wealth over longer periods, especially if it is next door to your house and brings additional benefits.
Control of your immediate environment
Owning a few acres around your house can give you control over your immediate environment and protects you from the worst excesses of neighbours behaviour. The more acres you own, the greater degree of control it brings. This is evidenced by the enduring appeal and status attached to ‘an estate’ where a principal house might be surrounded and protected by many hundreds of acres, and attracts a significant premium for it. A significant number of buyers registered with us, particularly those moving from the more crowded south-east, specify space and an absence of near neighbours as one of their most important requirements.
Not only does ownership of land provide that degree of control over your immediate environment, but it can also offer amenity and add to the enjoyment of living in the house; space for a tennis court, pony paddocks, wildflower meadow, quad bike track, dog walks, woodlands, marquee for weddings, orchards and grazing for pedigree livestock are all requirements sought by buyers registered with us. These amenities are all powerful reasons why a buyer may choose one property over another.
There is also the possibility of generating some income from land through horticulture, agriculture or recreational uses. Such income generation from home can not only be fun but can also be very tax efficient and, indeed, if a property can be classified as ‘mixed use’ for stamp duty (SDLT) on purchase, there are also some significant tax savings to be made.
All of these benefits contribute to making a holding of land with your country property an attractive and a valuable asset. If you are considering selling your property and land, do contact our Exeter branch. Our friendly team has been selling homes with land in Devon for many years and would be delighted to discuss your individual requirements. Call or email email@example.com.
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