Everyone has their own reasons, but these are the most common:
1. It can provide a substantial windfall for the property owners involved.
Completely new and additional cash/assets are created. For example:
Now: A property and garden is worth £ X thousand
After: The property and garden is still worth £ X thousand. (Our high-quality projects can even increase neighbouring property values.)
The excess land is sold for an additional five-figure sum (a typical figure, although the sum depends on the land and area). This extra value has been created by the project – it did not exist before. Although not every excess garden or land space is suitable, where a project is taken forward and concluded, there is a substantial windfall for participating property owners.
2. The cash is enough to make a difference. It may:
– be used to reduce borrowing or to re-mortgage* under new affordability rules;
– offer an attractive alternative to equity release*;
– provide greater financial security, particularly during expensive child-rearing years, or in retirement;
– allow you to pass on part of an inheritance in a tax-efficient* way, when it is most needed and when both parties can enjoy the gift;
– fund a particular ambition or need, such as starting a business, a new car or a world cruise.
3. Your needs may have changed:
If your family have grown, or career progression leaves little time for gardening, you may now not need or want such a large space. Some are attracted to the opportunity to reduce the burden of a large garden, without having to move house. A smaller, easier-to-maintain area may better suit your lifestyle, needs and energy levels.
* We are not able to offer financial advice and nothing in this website above should be taken as such. We recommend that before making any tax or financial decisions you speak to a qualified financial advisor or accountant for professional advice based on your own particular circumstances.