Hope everyone is doing well!!
So, currently at 20 years of age, I've got a quite a few big ambitions in life. One of which is commencing a self-build project.
I wanted some advice on what to expect, time length, the feasibility costs and if my plan would work. My project is quite large so any advice in any area would be much appreciated!
I've attached a few pictures which would give a general idea of the type of "house" I'd like to build. After much in-depth research, a land with size between 6 -10 acres would be quite suitable.
Current requirements:
1) 1/4 Mile driveway
2) 7 Bedrooms, 5 Bathrooms
3) 2 receptions
4) Library
5) 2 office rooms
6) Indoor Swimming pool/ Sauna etc.
7) Underground + Outdoor garage
8) Polo arena
9) 2 Acres Fishery
Cost of project
Land in Surrey/Berkshire/West Sussex :
7 acres approx. £250k - £450k
Cost of House £650k - £800k? We do have a close friend who is an excellent property developer from scratch.
Materials £120k?
Swimming pool £100k? Foundations would have been laid before constructing house so would be cheaper?
Landscaping £30k
Per Acre of fishery £30k (x2) = £60k
Underground garage £100k
Driveway £20k
Bathroom, Kitchen, and all fixtures £60k
All legal work £10k
Architect £15k
Misc £100k
Total: £1.5m - 1.9m???
For the pictures provided, it looks awfully cheap (relative move from London aha)
Do let me know me if I've missed out anything else.
About me:
Finishing university, hopefully with a prospective career in fund management. I have also started a side business currently pitching for seed funding.
Funding:
Age 26 Estimated Annual income: Career (£130k - £200k in a Tier 1 Bank) + Business (£60 - £80k) = £170k - £280k
+ 97% Probability of my relationship evolving to marriage, her income would be between. = £65 - £100k
Deposit: £700k [(Selling the family home (Adjusted for inflation) + from all savings)]
House income:
I do play a fair bit of Polo so I have a general idea of how to take care. I have seen a few homes for sale with fishery included where revenue is approx. £150k and yearly costs of £50k.
These projected net incomes are of course, another 2-5 years after build.
Polo arena - Conservative Net profit around £30k
2 Acres Fishery - Conservative net profit around £40k
I really do appreciate any help!