Value of Bungalow with 0.25acre compared to 0.75acre

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podd

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Hypothetical question..

If a detached bungalow had 0.25 acre of land and was out in the country, say out in the Midlands or out Mayo way (so nowhere near Dublin), and it was worth €200,000 - how much would the same bungalow be worth if it had 0.75 acre instead of just 0.25acre.

Was just wondering what element of the total price for a house is for the building, and what for the land...
 
extra 0.5 acre priced approx at agricultural price per acre locally.
a couple of grand?
 
Would the price of the extra land not depend on its development potential. Ie could you build another house on it.
 
Oh right - just a couple of grand...

I was just wondering to what degree the total cost of a property is for the building and what for the land. So if an extra 1/2acre only adds a very small amount, then it looks as if the vast bulk of the total price of the property is for the house, not the land...

As you say steelblue, it probably would make a difference if the land had development potential. i.e. had road frontage
 
Anything is worth what someone is prepared to pay for it and if someone wants an extra bit of land they are prepared to pay for it.
If I was buying a bungalow for 200K and the extra piece of land had no dev potential then I would pay and extra 25K for it but if it had potential (even long term) I would go maybe 40K
 
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