Buy or build a house ?

[Dos]

I have absolutely no clue or any knowledge about self-build whatsoever.

 

After trying to buy a house over the past year and failing miserably, I'm considering the possibility of a self-build. We're thinking of buying a building plot in the west country and having a simple conventional brick and tile two bed detached bungalow / house built. Budget would be around £180 with a small mortgage.

 

Can you obtain pre-designed plans or is that option fraught with disaster (planning etc).

 

Is it feasible, or would I be better off persisting with the estate agents to find what I'm looking for?

[epsilonGreedy]

Does your £180k budget include purchase of the plot?

 

Most plots come with physical constraints i.e. awkward narrow shape, difficult road access, neighbours whose privacy must be respected to obtain planning permission, a steep gradient, trees with wicked root systems or dodgy ground. Given your budget you would be lucky to find a plot onto which you can plonk an off the shelf design.

[nod]

10 minutes ago, epsilonGreedy said:

Does your £180k budget include purchase of the plot?

 

Most plots come with physical constraints i.e. awkward narrow shape, difficult road access, neighbours whose privacy must be respected to obtain planning permission, a steep gradient, trees with wicked root systems or dodgy ground. Given your budget you would be lucky to find a plot onto which you can plonk an off the shelf design.

eps 

You have just described our plot ?

[Dos]

7 minutes ago, epsilonGreedy said:

Does your £180k budget include purchase of the plot?

 

Most plots come with physical constraints i.e. awkward narrow shape, difficult road access, neighbours whose privacy must be respected to obtain planning permission, a steep gradient, trees with wicked root systems or dodgy ground. Given your budget you would be lucky to find a plot onto which you can plonk an off the shelf design.

 

I'm afraid it does

 

But that's why I posed the question. I wanted to be let down lightly before an idea became a dream, and my finances decided I was having a nightmare. It looks like I'm back to dealing with estate agents, followed by long conveyancing chains to find that 1960s bungalow has poor insulation with rusting brick ties and woodworm in the attic.

 

Bugger.

[markc]

7 minutes ago, Dos said:

 

I'm afraid it does

 

But that's why I posed the question. I wanted to be let down lightly before an idea became a dream, and my finances decided I was having a nightmare. It looks like I'm back to dealing with estate agents, followed by long conveyancing chains to find that 1960s bungalow has poor insulation with rusting brick ties and woodworm in the attic.

 

Bugger.

Welcome and good luck!

What area are you looking? I have been looking for that bungalow around west Yorkshire for quite some time and i have your entire budget to spend on it ... admittedly i do want a larger plot but i would welcome a difficult site and poor access etc.

[Dos]

1 minute ago, markc said:

Welcome and good luck!

What area are you looking? I have been looking for that bungalow around west Yorkshire for quite some time and i have your entire budget to spend on it ... admittedly i do want a larger plot but i would welcome a difficult site and poor access etc.

 

Devon, Cornwall or at a push Lincolnshire fens (the fens are flat as a pancake, so the plot should be less of an issue (apart from the usual peat and clay issues), plus Lincs is cheap for housing at present).

[Moonshine]

2 minutes ago, Dos said:

Devon, Cornwall

 

i am down that way and you can get some small plots for £60-100k, though you would have to do loads yourself to build a small house for the remaining.

[scottishjohn]

what about a compromise for a few years-- buy a wreck -and do it up --yourself and sell at profit -then maybe look again -or maybe it will take a couple of diy rebuilds to get the funds you want to buy what you want - 

or buy correct plot ,get planning  and start a build hwile living in a big caravan  and save up over next year or two 

Icould be wrong - but 180K for plot and new house in west country sounds impossible to me- 180 k for  the house if built economically 

[scottishjohn]

2 minutes ago, Moonshine said:

i am down that way and you can get some small plots for £60-100k, though you would have to do loads yourself to build a small house for the remaining.

thats a dream -build a house for 80k inc all fees etc

[Dos]

1 hour ago, scottishjohn said:

what about a compromise for a few years-- buy a wreck -and do it up --yourself and sell at profit -then maybe look again -or maybe it will take a couple of diy rebuilds to get the funds you want to buy what you want - 

 

If I were decades younger, I'd be all over that ideal like a rash. 

 

I have looked into auctions, but the price they sell for -even the real bad ones- are not that far of the open market price. I'm not sure  if Covid has screwed things up, or my expectations need keeping in check (I think its the latter! ).

[nod]

Most plots  in our area are 200k plus Some creeping towards 300k

[SteamyTea]

There is Cornwall. And then there is Cornwall.

Are you only after a bungalow?

 

Quick look on the Land Registry shows 2 detached properties below 180k that have sold recently, one in Illogen Downs and the other in St. Day.

Probably more about but picked places by the A30.

Edited September 16, 2020 by SteamyTea

[scottishjohn]

I suppose next question is thei 180k  real money or do you have to sell another house and then another mortgage