So I've come across the opportunity to buy a plot of land for a dirt cheap price just outside London but I don't really know what I'm getting myself into so any advice or link of who to ask for advice would be welcome.
It's cheap enough that it's money I can afford to lose but I think even if I didn't get to build on the site the price would rise slowly over time, there's always new governments with new rules.
Of course the reason it's cheap is that its currently farmland but not green belt and its been marked by the local council as possible for development.
There's also a clause in the deeds that if the seller gets planning permission (for the road and stuff) you have to pay them 25% of the difference between the new valuation of the land and the price you paid. I actually think that would still be affordable and in theory you'd be able to sell it at that new valuation price and make a profit at that point if you didn't have the money.
My main concern is getting hit with hidden costs.
[–]Eight_Ace 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)