Inflation. Wrong time to start a self build?

[markc]

5 minutes ago, Adsibob said:

Have you considered buying an old property that can be demolished and start over, or partially demolished? In most parts of London, that is almost the only way to do self build and what we've more or less ended up doing.

Oh yes, im on the lookout for anything, i just want a decent plot size and a bit of space around it. Old industrial, poor ground, steep slope etc. im happy to engineer a solution to suit the place. Planning around here is mad, a plot i say a few weeks ago, 0.06 acres with planning granted for a detached and a pair of semi`s 

Edited June 25, 2021 by markc

[nod]

6 minutes ago, markc said:

You can have some of our house valuations if we can have your land availability and costs please. Two+ years looking for a plot around here and all i can find is window box size plots with planning for a pair of semi`s and a bargain at £1000 per square metre ..... for the land!

We looked for seven years for ours 

12 months looking for our second 

Then two plots and a field fell in to my lap 

[markc]

@nod fair play. My girlfriend is more impatient than me - we said we would get married after we built a house (we live apart) so maybe im subconsciously not looking lol

[nod]

17 minutes ago, ProDave said:

How different it is in different places.

 

Pre this current boom, our finished build cost including land would be about £230K and it would be lucky to sell the new house for £250K.  I had already concluded had I not done so much labour myself, the new house would have cost more than it's market value.

 

Some places need a bit of house price inflation.

We looked at a plot 25 years ago for 100 k

We bought a new four bed detached near by on a similar plot for 105 k 

It didn’t make sense at the time 

Now mass produced boxes on an estate are making half a million 

Not sure where all the buyers come from 

[Oz07]

Its properly gone crazy hasn't it. I see a place come up today, clean but could do with modernising. Offers over 300k at 67m2 for a crappy town in Leics that's mad. Your Rutland villages and Swithland area maybe justifies 4500 per m2. I took 3000 per m2 on my place last August and was happy to get it. 

[SteamyTea]

On 24/06/2021 at 12:42, Oz07 said:

How long it will last is anyone's guess

The stamp duty holiday is going at end of the month, this has artificially compressed the selling period, and people with lots of cash think that they have a right to buy quicker.

 

[Oz07]

16 minutes ago, SteamyTea said:

The stamp duty holiday is going at end of the month, this has artificially compressed the selling period, and people with lots of cash think that they have a right to buy quicker.

 

Trouble is prices have gone past any stamp duty saving. 

[SteamyTea]

3 minutes ago, Oz07 said:

Trouble is prices have gone past any stamp duty saving. 

They generally do, it is the fear of 'missing out'.

 

[Ralph]

I don't know if it's anything to do with the current boom but recently we were offered a surprising amount of money for 1/3 of our 1 acre plot. Not far off what we paid for the whole acre 4 years ago.

[Adsibob]

3 hours ago, Ralph said:

I don't know if it's anything to do with the current boom but recently we were offered a surprising amount of money for 1/3 of our 1 acre plot. Not far off what we paid for the whole acre 4 years ago.

Maybe they know something you don’t. Gold deposits? Oil?

[Ralph]

2 hours ago, Adsibob said:

Maybe they know something you don’t. Gold deposits? Oil?

A ancient haunted burial ground is more my luck. I think it's the views.

[Adsibob]

Wow, that really is beautiful. Where is that?

[Roys]

 

14 minutes ago, Adsibob said:

Wow, that really is beautiful. Where is that?

I’m no detective but a wild guess would be Angus in Scotland ? clue is under his avatar.

Of course that could be a red herring and I might have jumped to the wrong conclusion.??

[Pocster]

On 24/06/2021 at 10:43, ToughButterCup said:

There ya go @flanagaj: I would    - Just Bloody Do It - . 

Couldn’t agree more . Ultimately prices of land / material will only ever go up but so will the equity in your build .

If I waited until I had enough money ( or a means to access money ) I’d never start .

I ignore budget and time frame . Both are always going to be higher ?

But as I’m doing almost everything , labour costs are near zero . I would estimate I’ll come in once complete at around £1500 m2 . Relative to the properties value it’s cheap as chips ! . That’s high spec on bathrooms , kitchens , tiles , glazing etc etc 

[Pocster]

13 hours ago, Ralph said:

A ancient haunted burial ground is more my luck. I think it's the views.

Is that a giant dildo on the floor ?

Edited June 27, 2021 by pocster

[ToughButterCup]

You have a way with words @pocster ... ?

[Ralph]

9 hours ago, Adsibob said:

Wow, that really is beautiful. Where is that?

Thanks, yup Angus. That is the Angus Glens and start of the Cairngorms. 

[Ralph]

1 hour ago, pocster said:

Is that a giant dildo on the floor ?

You know what they say, anything's a dildo if you're brave enough.

[Pocster]

8 minutes ago, Ralph said:

You know what they say, anything's a dildo if you're brave enough.

One of the greatest statements ever made!