Thursday, November 15, 2007

Getting ready for the fall …

How to Design Your Own House

"You can save money if you build yourself, but you must be prepared for a long and stressful process. You have to find and buy your plot, often beating established house builders and developers in the race, negotiate planning departments and find an architect you trust."

Ok, so were heading for a crash (or a re-alignment of the markets !!!), that means construction costs will drop, land prices should drop, anyone paid on commission for professional services (Architects, Engineers, etc,.) will find their % of the construction cost will drop. All in all, construction is heading for a recession and there will be some bargains to be had.

Posted by fahrenheit451 @ 08:16 AM (1067 views)
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10 thoughts on “Getting ready for the fall …

  • I hate to join the “Conspiracy Theorists” but this is all very convenient for when the next batch of contracts for the Olympics is going to be sent out.

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  • planners are your friends??? what rubbish, if they are so committed to making an area look nice why do we have supermarket towns???

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  • @farenheit451: In the 1930s great depression, the US government had “make-work” schemes just to keep the populace employed and quite possibly to prevent them from uprising. Could the Olympics do the same for us? London would be worst-hit by a decline of the banking sector, and the most of the new buildings for the Olympics are in London.

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  • I’m sorry to be the only one here yet, but just followed through the link to Potton Homes and on the basis that the average detached house is about 8m wide x 10m depth, on 2 floors = 160 sq m = 1600 sq ft.

    The “Kingswood” design is 1653 sq ft and costs just over £40,000
    Potton Homes / mapletimberframe.com Kingswood
    Potton Homes / mapletimberframe.com Prices
    Plus fitting out, say £10,000 kitchen & bathroom (straight out of B&Q)
    Plus Landscape, say £10,000 (its got be fairly reasonable and includes the driveway etc.)
    Plus fudge factor, say £10,000 (there is always something to go wrong)

    Now I’m not suggesting that Potton are Good, Bad or Indifferent, this is just to get the figures out.

    That make construction cost = £70,000
    OK, you now have to add in the cost of land, well that’s wherever you can find it !!!

    And then they sell this sort of house for £350,000 plus

    Somebody is making a fat profit !!!

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  • I’m sorry to be the only one here yet, but just followed through the link to Potton Homes and on the basis that the average detached house is about 8m wide x 10m depth, on 2 floors = 160 sq m = 1600 sq ft.

    The “Kingswood” design is 1653 sq ft and costs just over £40,000
    Potton Homes / mapletimberframe.comKingswood
    Potton Homes / mapletimberframe.comPrices
    Plus fitting out, say £10,000 kitchen & bathroom (straight out of B&Q)
    Plus Landscape, say £10,000 (its got be fairly reasonable and includes the driveway etc.)
    Plus fudge factor, say £10,000 (there is always something to go wrong)

    Now I’m not suggesting that Potton are Good, Bad or Indifferent, this is just to get the figures out.

    That make construction cost = £70,000
    OK, you now have to add in the cost of land, well that’s wherever you can find it !!!

    And then they sell this sort of house for £350,000 plus

    Somebody is making a fat profit !!!

    Reply
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  • Why should land prices fall?There is no carry cost so landowners can sit out this bit of difficulty: is n’t that why people use land as an investment?Time for the Henry George land tax; make them buck their ideas up.Don’t you have any underused/derelict sites near you? The Royal Town Planning Institute alleges that developers are sitting on land rather than develop it to keep house prices up.The Office of Fair Trading is investigating just this.House price crash needs to stop barking up the Buy-to-let tree and look at how the market in land works, or does n’t.
    All the best..

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  • a friend of mine works for barratts, he says it costs them on average £40k to build a 3 bed semi
    which they sell for £130K +

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  • Its not the high price of houses; its the high price of the land underneath them.The inflation in the costs of putting bricks and mortar together would lead houses to cost about £ 60,000 a go. This is what John Prescott (remember him) showed with his competition to find the best £60k house.The economics of land prices has been studied for a long time and by 1909 most politicians were clued up: Winston Churchill probably had the best grasp of the subject.

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  • fahrenheit mate.

    Your semi right but big builders have lots of ways to keep prices low that are not available to individuals.

    I have done many price evaluations for houses, in the SE where i am most 1/4 acre plots with planning permission for a 3 bed detached house go for 250 to 300K.

    Potton houses are timber framed and if you want a decent brick one it will cost you at least 50 – 75K for the foundations ( including labour ) and the same for the house, all in all your up around 400K and to be honest you can easily buy the same.

    All you can save on is the labour and thats providing you have the time available ( with bills coming in think and fast ) to get on and do it, Potton prices dont include the ground work or fitting out, the ground work is at least as much again, Wimpey make money as they would get permission for 4 homes on my 1/4 acre plot – thats how they do it.

    Seanb303

    £40K doesnt include what they have had to pay for the land.

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  • Everyone is focused on the house price boom and subsequent crash, but in reality it is a land value boom. The value of the houses themselves has only kept pace with CPI or RPI inflation. This BBC news article from 2003 states that over the period 1982 – 2002 land prices alone rocketed by 800% whereas property (i.e. land+house) increased by a mere 300%. http://news.bbc.co.uk/1/hi/business/2787695.stm

    There are also some pretty (if blurry) graphs here: http://www.ablemesh.co.uk/thoughtsboombust.html

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