My neighbor asked again about buying some of my yard

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SAWYER

Lifer
Apr 27, 2000
16,742
42
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A year or two ago he causally asked about buying 10 feet of my yard on his side and said $1500, I never thought about about it because it seemed ridiculously cheap. It would have been 10 feet in and all the way from the front yard to the back which is maybe 125 feet or so on that side. He asked again but he clarified, $1500 for each foot. This offer really has my attention. I have a huge yard so I wouldnt miss it and am really considering it.
 
Last edited:
rudeguy

rudeguy

Lifer
Dec 27, 2001
47,351
14
61
$187,500 is a damn nice vacation, car and a huge dent in your mortgage.


I would not think twice about doing it.
 
TwiceOver

TwiceOver

Lifer
Dec 20, 2002
13,544
44
91
10 feet eh? Sounds like he wants to build something and needs enough set back to do it.

Might want to sit down and figure out his intentions. Could end up selling 10 feet then looking at the side of a outbuilding for the next 30 years.
 
S

SAWYER

Lifer
Apr 27, 2000
16,742
42
91
lol no I mean it would be $15000

On that side he has only enough room for his single car drive to go around the back of his house and has no yard.
 
Oyeve

Oyeve

Lifer
Oct 18, 1999
22,066
883
126
TwiceOver said:
10 feet eh? Sounds like he wants to build something and needs enough set back to do it.

Might want to sit down and figure out his intentions. Could end up selling 10 feet then looking at the side of a outbuilding for the next 30 years.
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This. Hell, he may want to build a theater and blast music!
 
rudeguy

rudeguy

Lifer
Dec 27, 2001
47,351
14
61
SAWYER said:
lol no I mean it would be $15000

On that side he has only enough room for his single car drive to go around the back of his house and has no yard.
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oohooohoooo

$15k? Maybe if he pays all the fees. I'm assuming scum bag lawyers have to get involved? Survery and other junk?

For me it would come down to whether or not I like the guy. If he's a good guy, why not? If he's a dick, nope. If neither...I'd try to sweeten the pot a bit.
 
S

SAWYER

Lifer
Apr 27, 2000
16,742
42
91
That part of my yard is the smallest, this is how my yard is
ZQ5IOqb.jpg



he is an older retired guy so nothing crazy
 
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NetWareHead

THAT guy
Aug 10, 2002
5,847
154
106
Check with your town if you can subdivide your lot this way. Such a sale might not even be legal. And if legal, you have to be reassessed on your property taxes since you now have less taxable land.
 
CPA

CPA

Elite Member
Nov 19, 2001
30,322
4
0
NetWareHead said:
Check with your town if you can subdivide your lot this way. Such a sale might not even be legal. And if legal, you have to be reassessed on your property taxes since you now have less taxable land.
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What I was going to post. Sometimes, they won't allow you to subdivide.
 
CPA

CPA

Elite Member
Nov 19, 2001
30,322
4
0
BTW, beyond the subdividing, what you need to assess is if the $15K is worth more to you today than the appreciation of your land tomorrow (to paraphrase a common saying). One thing you can count on is that land does not depreciate. It always goes up in value. If you plan on living in your house, say, another 10 years, what do you expect your land value to be? Will it appreciate more than that $15K and substantially enough that the $15K ended up being a bad deal?
 
Blackjack200

Blackjack200

Lifer
May 28, 2007
15,995
1,688
126
CPA said:
BTW, beyond the subdividing, what you need to assess is if the $15K is worth more to you today than the appreciation of your land tomorrow (to paraphrase a common saying). One thing you can count on is that land does not depreciate. It always goes up in value. If you plan on living in your house, say, another 10 years, what do you expect your land value to be? Will it appreciate more than that $15K and substantially enough that the $15K ended up being a bad deal?
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Well, he could also invest the $15k...
 
S

SAWYER

Lifer
Apr 27, 2000
16,742
42
91
I could pay off my house and have money left over but I dont know if I am going to do it, especially with all the lawyer, tax and value talk
 
Blackjack200

Blackjack200

Lifer
May 28, 2007
15,995
1,688
126
CPA said:
Sure, but will he? Will most people? With Land, it's a safe non-liquid investment.
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He will if he does? I don't get your point. Also, you're assuming that chopping that 10 feet off will reduce the value of his property by $15k. I'm not so sure that's the case. I'm not sure it would reduce it at all. Maybe in theory, but it sounds like a substantial plot, and I'm not sure taking 1250 sq. feet of it will really affect it.
 
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nk215

Senior member
Dec 4, 2008
403
2
81
SAWYER said:
A year or two ago he causally asked about buying 10 feet of my yard on his side and said $1500, I never thought about about it because it seemed ridiculously cheap. It would have been 10 feet in and all the way from the front yard to the back which is maybe 125 feet or so on that side. He asked again but he clarified, $1500 for each foot. This offer really has my attention. I have a huge yard so I wouldnt miss it and am really considering it.
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That's $12/sqft for 1250 ft^2 of your property.
 
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