Is A Restrictive Covenant The Only Way?

[cloggs]

Our next door neighbour of very long standing has been taken very ill. His distant relatives, who we are not in touch with, will probably have to sell the house.
Our main concern now is that the house is ripe for a first floor extension over the garage. Though permissible that would be very detrimental to the aspect of our own property which we do not wish to leave.
We may try to buy the neighbour’s house and then sell it on (at a somewhat lower price, no doubt) after applying a restrictive covenant.
Can anyone think of a smarter way to protect our interest with less cost and administration hassle?

[silliemillie]

You could buy with a buy to let mortgage and rent it. That way covering the mortgage costs and keeping complete control of the house.