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I think this is key. My learning here is that insurers have no appetite to insure a building that's not in a good state of repair (fair), but also that liability cover can't be bought separately to buildings cover. So basically, if you have an uninhabitable building, you're completely uninsurable in any way, even for liability. I spoke to dozens of insurers and brokers, and heard the same things every time. It's frustrating because the building isn't unsound, just needs 5-10K put into it to bring it back to a "habitable" (if not nice) condition. But investing those sums doesn't make sense if it's going to be redeveloped. Feels like there's a gap in the market. Ended up going for the expensive specialist policy, which I'll cancel and switch to liability-only self-build cover when I have a better idea of the scope of the build.

Indeed, I am struggling!

Does anyone have advice regarding insurance for a renovation property I'm purchasing soon? The property is not habitable and is in poor condition with missing roof tiles, boarded up windows etc... My long-term plan is to redevelop the property -- either a substantial renovation or even full replacement. Currently no concrete plans but have been chatting with an architect. Here's what I'm finding: Normal home insurers aren't interested because the building is in poor condition and I won't be living there for the foreseeable future I've managed to find one specialist policy that will offer coverage, at about 5-10x the cost of a normal policy 😬 Site insurance doesn't seem applicable until there are concrete plans in place. I'm mainly concerned with liability, e.g. the classic "roof tile falls on someone's head" scenario. The building itself I'm less concerned about as it's a complete re-do job anyway. Does anyone have any advice on what kind of cover makes the most sense to get?

Haha even that feels like a dream around here. There are no bungalows that aren't 60sq.m garage conversions. Just terraces of highly variable quality 2-4 storey houses. That's a good idea. I submitted some example plans to an online estimator, which will hopefully give a ballpark that's not a work of complete fantasy. For exterior/shell works, how accurate would you expect an online estimator to be (Estimators.com in my case)?

Thank you for the thoughts everyone! We're looking all over, but generally focused in North London, Zone 2/3/4. So definitely desirable areas, but not Mayfair and normal, residential streets - no weird access issues etc.. Good to know (and sobering) that 5k is not off-the-charts crazy. I'd definitely consider building from scratch, but the problem in London is finding a suitable plot. All the potential infill plots I've scoped out are small, and would probably end up with a height restriction from planning due to density of existing housing. That would limit options to < 100sqm, which is too small. Unless anyone has any secrets for finding larger plots? The range is tricky - 2.5k/sqm is very doable, but 5k is not. Definitely seeing this on the ground. A lot of unrealistic expectations all round. Seems like economically it's usually a net loss to extend a property in London in terms of value -- even untouched properties -- and it's better to pick up someone else's finished project and let them take the loss... or take advantage of the fact that they did the work 10+ years ago. I'm trying to be cautious and make sure my plans are approximately costed before diving in, to avoid ending up spending more than the end result is worth! A few more musings: Is there a meaningful cost difference per sqm between a multi-storey extension versus a single storey? e.g. a 33sqm footprint over 3 levels, so 100sqm gia. Intuitively I'd say so -- there's only one roof, one set of groundworks, and there should be some efficiencies of scale? For a large extension and extensive remodel, how might you expect the final costs to break down in terms of "reconfigured watertight shell" vs "fitting out everything inside that shell"?

Hi all! I'm on a mission to create a fantastic family home in London, either through new construction or extending and renovating an existing property. Currently leaning more towards extending an existing proprety, since finding a suitable infill plot in a nice area of London is almost impossible. Seems doubly impossible since I'd like the end result to be > 150sqm and that makes planning very unhappy since it'll involve multiple storeys. Looking forward to sharing the journey here!

Hi all I'm looking at a few houses in London for potential to redesign and renovate into something special for my family home. The opportunities I'm interested in tend to look like: Terraced/end terraced houses of 120-150sqm gia Planning potential to expand by another 50-100sqm gia, either via a side or rear extension In need of a full remodel - moving interior walls, evening out half-levels etc. Sometimes an existing basement that could be finished into a utility/gym space -- or even expanded. Opportunity for loft conversion, or a crappy existing loft conversion from 30 years ago. I'm curious how to estimate the cost of works, so I can work out whether the numbers make sense. I want to achieve a great end result of > 200sqm, but want to be savvy about where to actually spend the money, especially because I have interior carpentry/fit-out/basic electrical skills and am very "handy". Success looks like a well-crafted finish, but not necessarily expensive materials. I feel confident that the fit-out could be done on a budget, but the exterior and structural work is outside my comfort zone. We've consulted a few architects, who are going by an ex-vat "rule of thumb" of £5000/sqm for extension, and £3000/sqm for interior remodel, excluding any savings from my labour. These costs seem extraordinarily high to me -- it would mean costs of at least £1M - way more than the finished property would be worth! I'm wondering: Are these costs just what the real world looks like in London, 2024? How do major costs tend to break down between (1) the building shell, (2) interior "core" reconfiguration and (3) the interior fit-out? How much can be saved by handling a lot of the interior fit-out myself (kitchen, laying flooring, carpentry etc.)? I have experience in these areas and have time to hire and project manage specialist trades. If anyone has advice, I'd be very appreciative!