Hi,

 

We are a family of 5 looking at our first self build project to build hopefully a 200sq m  family home for the next 15-20 years. Land is £205k, with a build budget of c£350k. We have managed to secure a site with some land under offer which has outline planning permission. We have been reading up and engaging with architects and contractors but would really welcome some advice around:

 

1. Project cashflow - We have savings (house sold and currently renting), that could purchase the land but not complete the build. Funders seem to want the land to have final planning in place before they will fund any purchase, but how can we make this work if land currently has outline planning but not final. Have others bitten the bullet and bought land with outline and then refinanced the project later down the line?

 

2. Land title - The land is being split off from a current title and we have concerns about access for services etc, have people moved forward discussions on services and the cost of getting these to a site before completing on a land sale, as they have quite a significant impact on budget?

 

Thank you for any help and advice its greatly appreciated.

Hello Tom and welcome.

 

Your budget seems achievable.

 

You will probably need full PP and costings before you can get finance.  If you have outline there should not be too many issues.

 

You will need to make sure 100% that you are able to connect to services at not prohibitive cost and you have full rights of access.  If you cannot secure this you need to walk away.

 

You can negotiate for an option or conditional contract if you want to get everything in place before you complete the purchase.

Welcome @CornishTom, I am just over the border in Devon, not sure where you are (cornwall ? ?) my builder was brilliant and could recommend him if you are not too far away!