Hello

[Jack9494]

Just here to suss out what's needed to self build really.

 

Have the housebuilders bible and will read through that. Need to ascertain whether it's feasible as first time buyers with about 35k deposit to build a nice house in the Midlands!

 

 

[lizzie]

Hello and welcome.......land...have you got some or does your 35k have to go in the pot to buy land as well?

[Moonshine]

Unless you have the land with planning permission already paid for, i doubt £35k is enough to get you started.

 

Budget £1.5k - £2k per m2 build cost, so for a rough calc think about a 120m2 house, you are looking £180k - £240k build cost alone.

 

Self build mortgages will lend you up to 4 times your joint income.

 

So say you have the land already paid for, you will need up to £200k once you take off your deposit.

 

Do you have a joint income of £50k?

 

if you need to buy a plot with planning (~£80-100k), do you have a joint income of £70-75k? 

[ToughButterCup]

3 hours ago, Jack9494 said:

Just here to suss out what's needed to self build really.

[...]

 

Welcome. 

Determination, grit, bloody-mindedness. It took us 30+ years to convert  our  orchard into a building site. 30 years to have enough equity to support the necessary finance. It's been a long haul.

[Jack9494]

5 hours ago, lizzie said:

Hello and welcome.......land...have you got some or does your 35k have to go in the pot to buy land as well?

 

No so it's 35-40k in liquid and the rest would have to be borrowed. I have seen some plots local which look promising.

 

 

4 hours ago, Moonshine said:

Unless you have the land with planning permission already paid for, i doubt £35k is enough to get you started.

 

Budget £1.5k - £2k per m2 build cost, so for a rough calc think about a 120m2 house, you are looking £180k - £240k build cost alone.

 

Self build mortgages will lend you up to 4 times your joint income.

 

So say you have the land already paid for, you will need up to £200k once you take off your deposit.

 

Do you have a joint income of £50k?

 

if you need to buy a plot with planning (~£80-100k), do you have a joint income of £70-75k? 

 

Joint income is about 75K so that sounds promising! 2k per m2? Wow, I thought it was around £1k! I can do the electrics myself. Does that 1.5-2k include interior or is that just the 'shell'.

 

2 hours ago, AnonymousBosch said:

 

Welcome. 

Determination, grit, bloody-mindedness. It took us 30+ years to convert  our  orchard into a building site. 30 years to have enough equity to support the necessary finance. It's been a long haul.

 

Thank you. Hopefully I am in your position at some point in my life! Enjoy it.