OK, so we have a huge yard, but it's big in the wrong places, which is to say that the front and side yard is big compared to the back yard. We want to put in a pool (in-ground, as above-ground pools are not allowed in this community). So, we COULD do it now, but space would be tight between the back of the house and the property line.
OK then... There is about 80 feet of common ground behind our back yard out the the edge of our sub-division. I want to buy 30-40 feet (linear feet from the back of my property line)of that to expand out back yard. Problem is the Home Owner's Society, in all there wisdom, made a deal with the City that says they have to keep a certain percentage of the common areas under the control on the Society. I don't think the total footage would exceed the number as stated in the docs re: the Cities agreement.
My question...
How should I value the land in question to make an offer, assuming I would not be infringing on the % of land the HS cannot sell? Would it be worth the same as my current property? Or since it is just grass, should I offer much less?
Thanks,
Bill
OK then... There is about 80 feet of common ground behind our back yard out the the edge of our sub-division. I want to buy 30-40 feet (linear feet from the back of my property line)of that to expand out back yard. Problem is the Home Owner's Society, in all there wisdom, made a deal with the City that says they have to keep a certain percentage of the common areas under the control on the Society. I don't think the total footage would exceed the number as stated in the docs re: the Cities agreement.
My question...
How should I value the land in question to make an offer, assuming I would not be infringing on the % of land the HS cannot sell? Would it be worth the same as my current property? Or since it is just grass, should I offer much less?
Thanks,
Bill

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