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Buying A Plot

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A friend of mine has a plot with outline consent for a detached 4 bedroom house.It's a bit long and thin 13m x 30m (average it goes from 27-33) but in a small Suffolk village.He wants £90k for it and I am thinking that this must be cheap.

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I was looking at plots, heres the comparisons

Bit of land with no planning = 10k

Bit of land with full planning permission = 100k

Not sure what outline planning permission is though, sounds a bit risky to buy if its not fully approved.

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I was looking at plots, heres the comparisons

Bit of land with no planning = 10k

Bit of land with full planning permission = 100k

Not sure what outline planning permission is though, sounds a bit risky to buy if its not fully approved.

Outline is full approval.It just means that you have to put in detailed plans and agree issues like size and siting etc.This is half a bigger plot and the other part has been developed with a nice 4 bedroomed house.Planning have said that the same will be acceptable.The other house was built in 1997 and last changed hands in 2004 at £325k.

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[beeny]

cost in building costs (£150,000) and finance costs (£10,000) cost of plot and your up to £250,00. Wheres the profit at todays prices?

[/beeny]

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Send me the details, Id like to have a look.

Mrs STRLondon has always wanted to do a Grand Design, and I know someone who could build it for us.

Note : Mrs STRLondon is extremely picky!

Edited by STRLondon

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Send me the details, Id like to have a look.

Mrs STRLondon has always wanted to do a Grand Design, and I know someone who could build it for us.

Note : Mrs STRLondon is extremely picky!

Rush of blood to the head.I just gave him a 2006 Mercedes Vito van as a deposit.I reckon 150k build costs about right. But I still think it's worth £300k built,so potentially £60k profit.Only the loss of interest on the money to wory about which is very little.Should I let Beeny Baby in on the deal?

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Rush of blood to the head.I just gave him a 2006 Mercedes Vito van as a deposit.I reckon 150k build costs about right. But I still think it's worth £300k built,so potentially £60k profit.Only the loss of interest on the money to wory about which is very little.Should I let Beeny Baby in on the deal?

As long as you intend to live in it through choice and not necessity ;)

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Rush of blood to the head.I just gave him a 2006 Mercedes Vito van as a deposit.I reckon 150k build costs about right. But I still think it's worth £300k built,so potentially £60k profit.Only the loss of interest on the money to wory about which is very little.Should I let Beeny Baby in on the deal?

Whatever the design of the house, no matter how many rooms it has, you need that extra bedroom. Beeny told me.

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I think its not a bad deal, the trick is not to be to clever with your aspirations, build good but realtively simple, keep the costs down. But. DO NOT PROJECT MANAGE IT... do the job you get paid to do rather than try to do something you do not fully understand. i find myself shouting this at the TV all the time....

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I think its not a bad deal, the trick is not to be to clever with your aspirations, build good but realtively simple, keep the costs down. But. DO NOT PROJECT MANAGE IT... do the job you get paid to do rather than try to do something you do not fully understand. i find myself shouting this at the TV all the time....

I will keep you all informed as it progresses.I'm not doing it for profit,the P pile is big and draughty and not really the thing for just three people.

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A friend of mine has a plot with outline consent for a detached 4 bedroom house.It's a bit long and thin 13m x 30m (average it goes from 27-33) but in a small Suffolk village.He wants £90k for it and I am thinking that this must be cheap.

Just under a 1/10 of an acre , sounds pricy to me , have to be in a bloody good spot for that money , in this market.

Spoke to a developer today as it happens , they're now working on 30/30/30 for plots , land/build/profit . Just for interest , he said that their bank told them ( nationalised one ) they were the only developer in the area to buy land with them since April.

He recently got a plot for £290k after getting the bloke down from £500k , PP for 4 houses.

Dames

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Guest DissipatedYouthIsValuable

Please would everyone let us know how they get on with losing all their money in a few months.

I'm suspecting the phrase, "We'll rent it out." will appear a lot.

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Just under a 1/10 of an acre , sounds pricy to me , have to be in a bloody good spot for that money , in this market.

Spoke to a developer today as it happens , they're now working on 30/30/30 for plots , land/build/profit . Just for interest , he said that their bank told them ( nationalised one ) they were the only developer in the area to buy land with them since April.

He recently got a plot for £290k after getting the bloke down from £500k , PP for 4 houses.

Dames

Thats a good discount, I have been looking at plots myself wondering how accetable to negotiations landowners will be. I tried to contact build store regarding mortgages left a message didnt get a call back.... I am not sure my lump sum is enough to get a self build mortgage though.

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in the olden days it was 30/30/30.... can you ask him to give you mates rates, take it down to 65k/70k as it would give you a bit of space...

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Whatever the design of the house, no matter how many rooms it has, you need that extra bedroom. Beeny told me.
I'm sure Beeny will tell you that you need a kitchen diner that opens out, via French windows, onto the back garden. :)

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Just under a 1/10 of an acre , sounds pricy to me , have to be in a bloody good spot for that money , in this market.

Spoke to a developer today as it happens , they're now working on 30/30/30 for plots , land/build/profit . Just for interest , he said that their bank told them ( nationalised one ) they were the only developer in the area to buy land with them since April.

He recently got a plot for £290k after getting the bloke down from £500k , PP for 4 houses.

Dames

Well of course I'm not looking for profit,so £290k split by 4 is £72,500.It's on the edge of an AONB in a small village about 3 miles from heritage coast,I think £90k is fairly reasonable.

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Well of course I'm not looking for profit,so £290k split by 4 is £72,500.It's on the edge of an AONB in a small village about 3 miles from heritage coast,I think £90k is fairly reasonable.

I am a developer and have done a few new build housing projects. As long as it is not blighted in any way (near busy road, contaminated land, flood plain, social housing), it sounds like a really good deal. The main thing to watch are build costs. I would say the most important considerations are a good architect to do the planning drawings. Don't let the architect make you do stupid trendy impractical expensive things, as you have to pay for them and live with them. Get a technician to do the building regs drawings. Also, employ either a good main contractor or an excellent project manager. Get fixed prices from everyone. I have never had a site where anyone said "Oh, this turned out to be easier than we thought so we will charge less."

Budget properly for services (gas, leccy, water, sewerage), insurance, interest, and fees.

Good luck!

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A friend of mine has a plot with outline consent for a detached 4 bedroom house.It's a bit long and thin 13m x 30m (average it goes from 27-33) but in a small Suffolk village.He wants £90k for it and I am thinking that this must be cheap.

It should not be a problem getting plenty of advice as there seem many on this site who are experts on plots. They see them everywhere!

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I think its not a bad deal, the trick is not to be to clever with your aspirations, build good but realtively simple, keep the costs down. But. DO NOT PROJECT MANAGE IT... do the job you get paid to do rather than try to do something you do not fully understand. i find myself shouting this at the TV all the time....

Sounds ok to me in suffolk.As above, keep it simple, get best discounts when purchasing all the materials, and do this yourself to save on a builder profiteering on them. If you can do anything on it , even labouring , do it. Dont have anybody taking fees off you. I recently built an extension for 30k with just me and a bricklayer/builder. i had estimates of around 70k.

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Have a look at eplans.com, advanced search where you can enter width and depths and get a list of plans to use as ideas when talking to architect etc.

Searched by 40 feet by 40 feet, 4 beds, 2 baths. 17 designs found

Random example

http://www.eplans.com/country_house-plans/HWEPL67072.hwx

But these are US houses, so layout/look may be only aspect which is applicable. When you view these, you may see upside down houses where bedrooms are downstairs and many have a double height 'Great Room' or something.

Edit: Muppetry on house sizes...

Edited by NorthamptonBear

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Have a look at eplans.com, advanced search where you can enter width and depths and get a list of plans to use as ideas when talking to architect etc.

Searched by 40 feet by 40 feet, 4 beds, 2 baths. 17 designs found

Random example

http://www.eplans.com/country_house-plans/HWEPL67072.hwx

But these are US houses, so layout/look may be only aspect which is applicable. When you view these, you may see upside down houses where bedrooms are downstairs and many have a double height 'Great Room' or something.

Edit: Muppetry on house sizes...

Thanks for all your advice.It looks like the first HPC new build is to become a reality.I saw a Planning Officer yesterday and they confirmed that this is "Reserved Matters" from the original application.I now have to tell them the scale and position of what I want to build and get it agreed.I will update as things move along.The vendor is an old friend and business acquaintance so if I was paying £10k over the odds I wouldn't lose any sleep.Maybe a limited invitation to the housewarming for nearby HPC' ers.I will post again when I have more info.

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Good luck with it all P, hopefuly with the lack of building work going on at the moment it will encourage builders to quote aggressively and save you some money on the build also. Seems like a decent plan

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The most fantastic Grand Design I ever saw was this carpenter chap who built a Hexaganol, or Perntaganol.. anyway, polygon house that was super light and airy and built from mostly natural materials, yet very rocust, and attractive, and BIG. He did most of the work himself aand sometimes supported by his wife - who was of Chinese origins. The man's vision was amazing, the house was amazing, I felt hugely inferior to this man, he was obviously a Da Vinci when it came to house creation... it's probably out there foir download or streaming somewhere. It was a plot in Cambridge.

I am not worthy. I sure wish that man would help me build a home like that.

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This raises something that interests me. At today's prices it cost 100-200k or more to build a "nice" house so this idea that they "should" be selling for 50% less than they are now just seems wrong. I get that the market for existing houses operates independently of new houses to some extent but there comes a point where if the former drops then the latter just won't exist - ie if you can't build a house for profit - why build it?

This then brings us round to the shortage issue. Sure, there are empty properties (i've seen the stats too) but the reality is that where I want to live, there just aren't nice big houses for sale. None are being built, the current ones are owned and lived in, the ones that come up sell quickly and for large sums. So can prices really drop to the levels people want? I'm inclined to think no, but would be very happy to be wrong of course :D!

Seems a bit of a mess really :(

Edited by Orbital

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