If you have a large backyard you may be thinking about subdividing it. Of course, this thought may not have crossed your mind but there are several good reasons why it is something you should now be thinking about!
Of course, you need to consider the tax implications of completing a subdivision of your backyard. It is also important that you have a respectable firm of residential surveyors complete the necessary surveys on your yard. You do not want a nasty surprise half way through your project!
It I also important to consider the pros and cons of subdividing before you commit to it.
Here are the reasons you should subdivide your backyard:
This is the most common reason to sell part of your backyard off. There are are several different ways in which you can do this:
Simply subdividing your land, via the appropriate legal channels, will allow you to fence the area and then sell it to a developer to create a property or even an array of properties on your plot.
However, before you do this and before you even get permission you will need to think about how a building project might affect the value of your home and your enjoyment of living there. You might need to sell part of your backyard with specific conditions.
The alternative is to build your own property in your backyard, again subject to the right permissions. This is a more costly option as you will need to pay for all the building work.
You will then be able to sell the home or rent it out to recuperate your funds. Again, there are implications to your own standard of living which should be considered first.
Another reason to split your backyard is to create a home for aging relatives or other loved ones which need to be looked after. If you don’t have the space in your own home or need to keep them close without being in your space then subdividing your backyard can be the perfect solution.
This will maintain their independence but ensure you are on the doorstep to assist whenever needed.
It is also an option if you are looking to establish a business but you want it to have its own premises. This might be to create the space you need to work on projects and allow the customer to see them without going through your house. Alternatively, you might prefer a shop front which can be directed towards the road.
This can help to ensure your business looks professional without spending a fortune purchasing premises.
It is also worth noting that you can be the one that moves into the dream home you build in your backyard and you sell or rent the existing property. Providing the proper legal process is completed there will be no issue with your end result!
It is important to follow due process, no matter how complicated. You do not want to be told to restore it to a backyard!