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Should I sell or let my property and plot?

I have a two/three bedroom house in Cholsey near Wallingford with full planning granted for a detached three bedroom dwelling on the side plot. I have no pension at 53 and no money to do the build. I have had to move in with my elderly father in the same village as his carer but I still work too. I have worked hard for months in evenings and weekends to get my home lovely to let. The property is in a good location near to train station to Oxford, reading, London and Henley. In the future, I would like to live in Devon or Wales with an Acre or so. is now a good time to sell with Brexit looming or should I wait? I have two and a half years left on the planning permission. thanks Steph

Asked on Sep 23 2017, Home Finance in Wallingford | Report content

Answers (1)

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  • Hello Steph, no one can really make true predictions as to the direction of the market. Much would depend on your own circumstances - although you will get the benefit of rental income should you choose to hold on to the property. However, if you sold now, you could charge a premium for the side plot with planning. You may want to check with the local planning authority - but you may be able to extend the permission for some extra time after the 2.5 years. That way you can rent the property over the medium term and still sell for a favourable price down the line. The risk is that property prices could fall, but nobody really knows (even the "experts"). Best of luck with your plans.

    Answered on Oct 3 2017, Report content

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