Home Buying in Danbury>Question Details

Monika, Home Buyer in White Plains, NY

I'm looking to buy a house in Southern Danbury that has 1.5 acres of land

Asked by Monika, White Plains, NY Mon Feb 25, 2008

, but only .5 is usable land and the house is built on that already. The rest is a 40-foot drop into a valley. How much is an acre of non-buildable land worth in CT? Should it be considered when calculating my offer?

Help the community by answering this question:

Answers

5
Hi Monika,
I just noticed your email. Hoping that you're on the right track with your question. Asa log as you cannot subdivide the excessive land included in the property , it's just the part of the property... You can't just seperate it from the package and appraise it. You should ask for a help from a local realtor to do a market analysis on that property you're thinking about buying it. It's like buying a fish from the market. You may not like the bones , head or tail but it comes with the package and included in the price. There are so many ways to approach a property and pricing it. Let you agent do his/her job. You'll be fine.. for more updated real estate info for Greater Danbury Area please vist: http://www.deeceylan.prudentialct.com
Warm Regards.
Dee Ceylan


Dee Ceylan, Realtor®
Buy, Sell or Lease/Rent Anything Real Estate

Prudential CT Realty
109 North Street
Danbury, CT 06811
Tel: 203 512 3520
Email:deeceylan@prudentialct.com
0 votes Thank Flag Link Sat Apr 19, 2008
Non-buildable might be not much more than an extra tax burden.
0 votes Thank Flag Link Sun Apr 13, 2008
When determining your offer, you should compare the home to other similar size/style/condition homes in the same neighborhood that are for sale or have recently sold. Then use that information to help you figure out what this home is worth to you.

Determining the value of a home is partly an art and partly a science. Appraisers use the 100% science approach. Home buyers need to use both.

For more information see: http://www.realestate-chocolate.com/category/buying-your-house/

Rob Gutman
Rob@Kimmelman-Gutman.com
0 votes Thank Flag Link Sat Apr 12, 2008
Hi Monika, White Plains...I grew-up in Hartsdale and now a resident of Danbury for 30+ yrs. I can tell you that homes today are priced mostly on the sq.footage of the home. I feel when there is such aquestion on the property, I would get a professional appraisal on the property.
This is a market where some times people want more than what the house is worth today.
You can search for thousands of homes right here at http://www.danburyrealestateforsale.com
0 votes Thank Flag Link Wed Feb 27, 2008
Great question! You should surely consider how much value it really adds in your offer. i recently did a market analysis on a home that had 3 acres but only 1 acre was usable and that was what the house was on. An apprasier was brought in and we came up with the same pricing conclusion. Some questions to ask is yourself is: is the extra acreage providing any benefits to a buyer, how private is the lot, what is the shape and lot's functionality? we already know you can't build out so you may want to compare this home's size/features/location to others in the same location. The other homes may have smaller lots but it will give you a great starting point. hope this helps and if you have any more questions feel free to contact me.


Alisha Gunraj
Keller Williams Associate Partner
BA Degree,Realtor®,NAR
Phone:203-554-4481
Website:AlishaHomes.com
Email:AlishaSellsHomes@kw.com
Satisfying Needs & Exceeding Expectations!!
0 votes Thank Flag Link Tue Feb 26, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer