Hello,
A plot came up for sale near us a couple of months ago, with PP for a large house. The area is a small settlement about 2 miles from the town in which we live. It's about 1/3 of an acre plot, has a disused outbuilding on it, an electricity pylon and cable running through it, but it is a peaceful setting and it has some mature trees (although they are conifers). We viewed the plot, liked the idea of the project but were then told the plot had sold. It is now back on the market. I was initially quite excited, and we have expressed an interest and started the process of putting our house on the market.
However, we're now planning to call the agent tomorrow and say we're not going to go through with it. There's plenty to like, but the PP is for a house we would never build if we had a blank canvas. I appreciate plans can be changed, but the reserved matters went through a few iterations before they approved a fairly generic style of house, so the extent to which we could alter the design is a complete unknown. Also, the costs are just scaring us off. 500k plot, plus a 285sqm house which we would want to do to a nice specification, plus double garage, plus preparing the site with demolition and relocating power lines, plus fees for all sorts of people, plus SDLT, plus renting another house for a good while...
I've really struggled with the decision. On the one hand, we want to do a house that's how we want it, and this presents a pretty good option for doing that, while our children are still young enough to enjoy the result. On the other, I don't want to be the person everyone tries to bleed dry for a couple of years, be mortgaged up to the eyeballs for the rest of our working lives, or have to keep compromising on standard of finish or specification because we can't afford it, but need to finish the build, so can't wait until we can afford it. We don't relish the thought of spending a load on rent, or subjecting our children to a worse house than the one they live in now for a couple of years. There's also the stress and reduction in time with the children when we inevitably have to spend time on "house stuff".
Apologies for the big moan - I love the idea of a self build, and I feel like a failure for walking away from an opportunity to do it. If this is my response to the reality though, is it just not for me? Or do I need to spend more time trying to do it in a way that doesn't start with spending half a million quid?!