Hi again
Have a rural property, and lease over government laneways that run through the property. The laneways are of a nature that they could never be sold as stand alone land for houses or as their own block.
The lease is very (very) cheap, but I was wondering if purchasing the laneway would be a way of adding value to our property?
Purchasing the land area would increase our 'owned' land area by 35%. But it doesn't increase the area in reality because you have use of it anyway, and if you were ever to sell the place, the lease gets transfered to the new owner.
Then again the property size (over 2 titles) does, at least on paper, increase by 35%. Wouldn't this be good for valuations, selling power etc?
Have a rural property, and lease over government laneways that run through the property. The laneways are of a nature that they could never be sold as stand alone land for houses or as their own block.
The lease is very (very) cheap, but I was wondering if purchasing the laneway would be a way of adding value to our property?
Purchasing the land area would increase our 'owned' land area by 35%. But it doesn't increase the area in reality because you have use of it anyway, and if you were ever to sell the place, the lease gets transfered to the new owner.
Then again the property size (over 2 titles) does, at least on paper, increase by 35%. Wouldn't this be good for valuations, selling power etc?