I'm looking to move in the next year or so as we want somewhere with a bit of land.
As such I'm looking weekly for properties that come up and weighing up pros and cons, and getting a good idea of what we want, where we want it, and how much we should be paying.
One of the properties I've seen recently is a building plot with planning permission to build two fairly large executive style detached 4 bedroom houses with detached garages.
The houses are already designed and approved and look to be a good layout. I've used some online calculators and the costs seem to come out extremely expensive.
The land is rural so the properties will require private drainage, water, electric etc (neighbouring properties aren't far away though) and a shared driveway laying (splits off at the end to individual properties)
I'm hoping that building two properties would reduce some costs, making it cost less than building two properties at different times etc.
However looking at the costs from the calculators it wouldn't really be worth it as the cost to build comes out close to what the properties would be worth after they are complete which ends up making it a lot of hassle and work whilst also costing a lot more (price of land).
I'd hope to do some of the work myself but I'm no builder so would ideally want the shell built, and the inside plastered, electrics fitted and plumbing (probably oil fired) fitted. I can lay floors, paint walls, install bathrooms, kitchens, interior doors etc.
To make it work and just break even, I think I'd need to build both properties for no more than a total of £500k. For it to really be worthwhile it needs to be less than this as then I'd be in profit. I'm in the West Midlands.
Does that sound realistic? At this point I'm not after perfect quotes, just an indication of whether or not it is possible. Any experience of total project costs from after the point of planning would be useful too.
As such I'm looking weekly for properties that come up and weighing up pros and cons, and getting a good idea of what we want, where we want it, and how much we should be paying.
One of the properties I've seen recently is a building plot with planning permission to build two fairly large executive style detached 4 bedroom houses with detached garages.
The houses are already designed and approved and look to be a good layout. I've used some online calculators and the costs seem to come out extremely expensive.
The land is rural so the properties will require private drainage, water, electric etc (neighbouring properties aren't far away though) and a shared driveway laying (splits off at the end to individual properties)
I'm hoping that building two properties would reduce some costs, making it cost less than building two properties at different times etc.
However looking at the costs from the calculators it wouldn't really be worth it as the cost to build comes out close to what the properties would be worth after they are complete which ends up making it a lot of hassle and work whilst also costing a lot more (price of land).
I'd hope to do some of the work myself but I'm no builder so would ideally want the shell built, and the inside plastered, electrics fitted and plumbing (probably oil fired) fitted. I can lay floors, paint walls, install bathrooms, kitchens, interior doors etc.
To make it work and just break even, I think I'd need to build both properties for no more than a total of £500k. For it to really be worthwhile it needs to be less than this as then I'd be in profit. I'm in the West Midlands.
Does that sound realistic? At this point I'm not after perfect quotes, just an indication of whether or not it is possible. Any experience of total project costs from after the point of planning would be useful too.
