Neil M

Thanks all. I'll see what the market offers up! Althogh it's been a time consuming and drawn out process, just having successfully gained planning on a plot previously declined at Appeal provides some satisfaction in itself... although some £s would be nice too

Thank you all for the responses, some very helpful observations. We are in one of the villages outside the Oxford ring road and I think we had just assumed that the third/third/third (plot/build/profit) balance should apply, and clearly it doesnt here and now. The comments re our motivation are key, that was originally simply financial but as time has gone on we have become miuch more focussed on/excited by the project itself. We're not speccing at a high level so in reality the cost is likely to only go up unless we do much more ourselves. We could make a start on the build to preserve planning and wait and see, but theres an element of putting life on hold which I'd be uncomfortable with. I'm inclined to think puttiing the plot on the market is the best approach as at least then we'll have a proper benchmark of value before finallly deciding. The local agent is bullish about selling the plot, I guess we'll see if he's right.. Thanks again all, if you think there are better routes than through the local estate agent I'd be interested in any views.

So, having spent nearly three years gaining planning (via appeal process) and then fulfilling the conditions set by the authority, we are all finally ready to go, fully deisgned and spec'd- only to find the estimates I'm getting from Builders are way higher than original estimates. An estimated £450k build cost for a GDV estimate of £740K. Equates to around £2750 p sq m- towards the upper end of the UK range but we are in Oxfordshire so possibly to be expected and the other budget estimate was £550k! Much as we'd like to progress with the build it seems financially at least, almost foolish to do so when the local agent tell us the plot is worth £280k as it stands (although I have my doubts about this valuation). Ultimately, we just need to make a decision but I'm struggling with this and would welcome any constructive (no pun intended) thoughts as to the options: We see them as : 1. Carry on trying to find a cheaper builder: if succesful likely to hold greater risks and any significant improvement seems unlikely. 2. Don't use a main contractor, manage the project and sub contract ourselves: no experience, prospect makes me nervous! 2. Wait for build costs to come down - Will they? before our planning expires in 2 years? 3. Put the plot up for sale and see what value it achieves and then review. I suppose the price will depend on how much cheaper a developer could build than I'm being quoted?