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renting out main house after building second home in garden


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Hi Guys,

 

Has anyone here the knowledge regarding renting out the main house on a plot of land, while you still live in a separate space (i.e. separate dwelling) on the same piece of land.

 

Basically we have a 120ft garden and I don't think the renters need the hassle of looking after the whole thing, at least its a hassle for us and we own it! So I do not think only having say 55ft garden is going to be an issue for them.

 

We can very easily have a fence path to the back dwelling, so they would visually be completely separate.

 

What do you think?

 

 

My "Wealthy Life" blog - http://chrisrjcox.blogspot.co.uk

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Chris

 

Your plan could be a money maker and if all comes together there is no problem in letting the original property but the are several issues that need to be overcome and also some serious considerations of whether the investment will be worth it in the long run.

 

Problems include:

 

Getting planning permission to do the project could be your main issue - many councils have issues of "garden grabbing" and look for reasons not to permit building like this.

If there are no clear access to the second property this could cause issues with planning.  

From the brief explanation it appears that you could be rather crowded on the plot - your neighbours may object as well as they too will be effected

Is there sufficient access to get the building equipment and plant to the rear garden to build on the property behind?

If you are mortgaged you will need to get the mortgage company's permission to let the main house - Not usually a problem but it needs to be done

 

Long term issues include the saleability of the properties after the build - are they going to be attractive units to sell later when you want to liquidate the assets?

Is the original house going to be devalued by the loss of land and the proximity of the new property?

Are the access issues to the second going to limit the value and saleability of the second property?  If it is crowded in you my live with it but will someone else?

 

A good architect with knowledge of how to please the local planning department will be your best answer for success if you decide to go ahead.

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Thanks Tim, hopefully below you can see an image of the current garden, suppose I didn't go into to much detail about what dwelling it would be, so good point. The plan would be for it to just be a small bungalow/outhouse approx 8x10meters. Maybe open plan bedroom/diner with additional kitchen. If you can see the image the actual building would not go further then the fence near the back of the garden so around where the blue shed is the garden goes back to the brown gate, then split the garden in half, so that future renters do not have to much garden to deal with.

 

Initially we are thinking of building this for my wives Mum and Dad, so a Granny Annex initially, then once that era has ended we could implement the above by switching the buildings use maybe? at least we hope we can do this. (any energy supply changes will happen then also for separate meters) We would only need this little place as if we meet our goals we shan't be there much anyway :)

 

The house is detached and has enough room to squeeze a car down, "literally" , but we are thinking this would just be split into two separate paths and having a parking space out the front.

 

I guess regarding resale, a little guest house at the end of the garden would be a plus? (apart from more council tax :( ) if not, we can make a few changes to it, such as removing the kitchen and bathroom the at least council tax is not due :)

 

P1090434.JPG

https://www.dropbox.com/s/46q06d1ids52119/P1090434.JPG

My "Wealthy Life" blog - http://chrisrjcox.blogspot.co.uk

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