Hello Everyone,
I am new here as many are, and have a question in relation to property size and market value.
I have read many posts on the forum and other places about people buying a property with a house on it,
subdividing it and putting another house on the property, i.e. the subdivided area without the original house on it.
My question is what happens to the value of the land with the original house on it? Would it decrease because
there is less land? And as a rough guide, how much would it decrease?
Thank you for reading my question and any light you can shed on the topic
My question is what happens to the value of the land with the original house on it? Would it decrease because
there is less land? And as a rough guide, how much would it decrease?
As rule yes and by the value of the new unimproved block. However once a development is completed the original property can regain some or all of it's value if the development involves an upgrade of the original and in a complimentary way. Get it wrong and losses to original properties value may be magnified.
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