The UK property market is currently experiencing a shortage in homes thanks to the lack of land for development. Thus, people who own farmland can apply for the proper zoning from the authorities to allow them to sell it for development.
The following are some of the things you would have to consider before selling land for development:
Get advice from professionals. Ask real estate professionals to show you how to navigate the complex and sometimes lengthy property selling process. Include the tax experts for the professionals who will be advising you since you need to minimize your expenses as much as possible.
Contact the local council. It is the local council which has records on the area’s structure plans. Find out from them if these plans do exist.
Consolidate properties. If you are selling to larger investors, it is important that you talk with other landowners in the area for consolidation of the properties.
Get partners. Planning and zoning can cost a premium. Without reliable investors to work with, you may not be able to meet these costs.
Exercise patience. Residential development takes a long time to implement. It could be due to the need for rezoning or some other issues. With a little patience, you should be able to get through it quickly.
The property market can be very beneficial for all landowners. When the time comes, learn to take advantage of it.