Sorry, another realistic build costs post!

[dawsonhousehold]

Fast approaching is a decision to purchase some land and build a house. We have redeveloped a house before (currently living in and for sale)

The land is 1/3 acre and price is in excess of £425,000 lets not get in to the merits of the size of the plot and the price.

The land has planning for a large house.

I am looking to put (maybe slight changes) but let’s assume for now as is, a smaller house, The Fleming

ET.04 – 4 Bedroom (English Traditional)

https://www.fleminghomes.co.uk/gallery/house-designs-floor-plans/et-04-4-bedroom/

SIZE

FLOOR AREA       243m²

FOOTPRINT         135m²

I would use Fleming to supply and erect (they are 70 miles away) and probably specify some cheaper windows than their go to. We do not want passive house and would simply be happy with the fact we got it built! In White London stock.

I work self-employed, and though I have time and can manage a project, hands on working on the build isn’t what I do best.

We do have a team of good grounds men, joiners (father and sons) electricians, plumbers, plasters and roofer, decorators, flooring but no Bricklayer.

We would be getting a kitchen form DIY kitchen and purchasing bathroom sanitary ware and plumber to fit.

Am I mad to think I could get it done for £275,000?

I appreciate all your answers and the time you spend replying

Thank you.

[Ralph]

I think you would struggle without doing a lot of work yourself. 

So there is the usual caveats on hourly rate etc but with fees and utility connection that's in the ballpark for what we built our 150m2 house.

It is a Scotframe valu-therm kit, quite a bit of Rationel triple glazed glass, standing seem roof and first floor and cedral on ground floor.

We also have a 38m2 separate garage, again with standing seam roof and Cedral cladding. It's open frame with rockwool insulation but without an insulated slab. 

All done with a central contractor. 

 

 

[Moonshine]

12 minutes ago, dawsonhousehold said:

The land is 1/3 acre and price is in excess of £425,000 lets not get in to the merits of the size of the plot and the price.

 

That is a expensive plot, i would do a sanity check to make sure the house prices in the area reflect that and your build cost.

 

11 minutes ago, dawsonhousehold said:

Am I mad to think I could get it done for £275,000?

 

it would be pushing it a lot with about £1,100 /m2 and you will be having to do loads of work yourself. I think to give yourself a fighting chance budget for £350k (~£1,500 /m2)

 

There are people on here that have done less than £1,000 /m2, but they are generally in the trade and have done loads themselves and it has taken years. Where are you and your family going to live during the build?

 

How much is the Fleming timber frame going to cost you, as that its going to take a good amount of your budget.

[nod]

As above 
You would have to a lot of the work yourself No main contractor 

We finished ours two years ago and came in just over £800m2 

Traditional 286m2 156m2 footprint +DG 

Your giving yourself a a good chance by going down the traditional route Whilst TF is convenient It’s very expensive 

 

We are about to start another build and would be very disappointed to come in over 1000m2 

 

From the land purchase price I’m guessing your finished home will be a million plus So you should be in pocket by the finish 

[Conor]

Doubtful, and if you are relying on trades to do most of the work you are going to have to save lots on materials and you'll end up with a lower quality build that won't reflect the market's expectations for £750k + houses. For that money people will expect nicely finished bathrooms, high end kitchen and tiles floors. Even if you aren't selling, you have to bear in mind mortgage valuations.

 

We are in a similar position and are having to stretch more than we'd like as we know if we built a smaller 3bed house to our original budget, it won't be comparable with other house on similar plots in the area and as we paid so much for the plot, we wouldn't get our money back of we sold or would struggle to get a mortgage. (Standard on our street is 250m² or more and 4/5 bedrooms)

Edited March 18, 2021 by Conor

[the_r_sole]

Plan for the worst and hope it works out better - I'd say you have zero chance of getting 243m2 for £275k no matter where you are in the country.

There are guys on here who have done some amazing things in terms of what they've got for their cash but I'd say they are the exceptions rather than the rules

It's more important to be realistic, understand how much you can access in the worst case scenario, make sure it all still stacks up - and then look at how you can deliver it for less, starting out with an unrealistic goal and sticking to it get's very difficult very quickly.

Get a qs to give you a cost of that housetype in your area and see what the starting point is

[Redoctober]

Put your plans through an online estimator - will cost you about £150 but could be money well spent, when coming to a decision as  to take the chance or not!

[Mr Punter]

@nod I think it could mislead others when you quote your build costs, as you are a very experienced contractor and you and your partner did all the work yourselves.  The OP is looking at getting trades in and should budget at least £1,500.

[dawsonhousehold]

All good comments, thank you all for your candour and for your prompt replies.  I think the reality of £1,500 per m2 as Moonshine said is more realistic and though the plot and prices in the area aren’t an issue it’s, do I want to end up £750K in. Really, I didn’t. I think I may end up having a frank discussion with my wife that we should consider taking the house off the market (expecting an offer on Saturday).  There is nothing that I want to move to, and the costs look a little prohibitive. 

P.S I’ve used the estimator online before (prior to our current redevelopment) and it was the best £150 I’ve ever spent! But I needed more of a feel from you guys.

[Russell griffiths]

Probably going to sound rude, but it’s not meant like that. 

£425,000 is south of Birmingham prices, for that price up there it must be a cracking plot in a cracking area. 

So probably demands a super house built on it. 

5 beds 3 baths, downstairs cloak and shower, home office, utility room, 3 car garage. 

 

So you are probably under developing it. 

If this is the case then you can forget the standard figures. 

 

You need to build it for you not for anybody else. 

 

Alternatively you need to build the better house but think of it as long term investment. 

Finish off all in for £875,000 but you have a million pound house.

When the kids sod off sell up and build a smaller one. 

 

I have a friend building a huge mansion of a place, just as his kids are off to university, but he’s doing it to sell on in ten years time.  

[deancatherine09]

The plot sounds very overpriced unless you know something we don't. We are buying a stunning 1/3 acre plot in an expensive Hampshire village for £375k - amazing views etc.

 

I know you said you don't want to discuss merits of the plot price here but in reality if the plot was cheaper you would be able to afford to up your build budget and the project would be feasible.

 

How long has the plot been on market and have you tried an offer yet?

[Ralph]

I know it's location, location and all that but I am always stunned at the cost of plots in other parts of the UK. 

[scottishjohn]

your quote working on @£1500 sqm is about £90000 short -- so double check everything that is or is not included

243sqm x1500=£364500

[SuperJohnG]

I've been to fleming homes, good bunch of folks. I can't fathom how a third of an acre would be 425k in Scotland or Northern England. 

 

I know you didn't want to do merits of the plot but thata the bit that is causing you problems 

[gc100]

Just as a point of comparison- mine worked out at £2800/m2 with me working on it part time with a builder and carpenter on daily rate. I would say there are a fair few interior details and we have to ‘fit into’ an existing attic which meant nothing was off the shelf . 185m2. That’s all in (professional fees, service’s , build) . For the build itself it worked out £2100/m2.

 

[dawsonhousehold]

Thanks for all the replies, haven’t visited for a little while. The plot prices are what they are here and yes that is the stumbling block as I didn’t want to get too deep in "Again!" I’ve been on the estate 20 years and as the houses come up for sale they are updated or knocked down. The problem with Russel Griffiths comment is that there are lots of million-pound houses here and there are only so many millionaires to buy them! (in the north anyway) I’ve included a picture the most expensive a couple of streets away. A little too overdeveloped for my liking (21,000 Sq ft)

Edited April 1, 2021 by dawsonhousehold

[Blooping]

On 01/04/2021 at 16:15, dawsonhousehold said:

Thanks for all the replies, haven’t visited for a little while. The plot prices are what they are here and yes that is the stumbling block as I didn’t want to get too deep in "Again!" I’ve been on the estate 20 years and as the houses come up for sale they are updated or knocked down. The problem with Russel Griffiths comment is that there are lots of million-pound houses here and there are only so many millionaires to buy them! (in the north anyway) I’ve included a picture the most expensive a couple of streets away. A little too overdeveloped for my liking (21,000 Sq ft)

Ah Ponteland, the land of footballers houses!

 

Was it this plot (even though it says 0.6 acres)? https://www.rightmove.co.uk/commercial-property-for-sale/property-79525922.html