Help with potential self build project.

[TheRivieraKid]

Hi all,

 

An opportunity has come up in my local area. A really, really nice plot that currently has a post-war prefab concrete bungalow. I don’t think there’s any realistic way to add a loft extension due to the structure, so potentially looking at knock down and rebuild.

 

My issue is the property is priced at the top end of what you’d see conventional brick and mortar houses in the same area. £500k for a 2/3 bed in the south east. I have no idea how much it will cost to rebuild. We’d be wanting a 4-bed chalet, around 1600sqft. Would the build cost be reduced due to a property already being there i.e. gas/water/sewerage etc? Is it best to speak to a local architect or structural engineer? Will they be able to give me a ballpark build figure before going any further, or will we need to pay for that service first?

 

thanks

[ProDave]

The build cost will be similar to an empty plot, but you will have to add demolition cost of the prefab which will certainly contain a lot of asbestos.

 

So if you budget £2K per square metre for the build that will be an outlay of about £800K.  What would the finished property be worth?

[ToughButterCup]

47 minutes ago, TheRivieraKid said:

...

I have no idea how much it will cost to rebuild.

...

 

Welcome.

Lots of posts asking similar questions for you to peruse. Have a good poke around the site.

To answer directly; £2 - £2.5k  per square meter. Any architect should be able to tell you what local development costs will be - probably slightly more accurate than @ProDave and my responses.

Edited September 19, 2021 by ToughButterCup

[recoveringbuilder]

I think it would be a tricky one to finance buying it as the prefab it currently is. There are quite a few of these post war prefabs around here and they are not mortgageable unless they have been bricked up, 

[Faz]

On a greenfield new build in Cambs (to a high spec - mvhr etc) I am looking at topping out at £110psf. My time has been for free mind you - forkie, site manager, handyman etc.

 

The final costs depend on what you are hiring in - best of luck with it mate if you press the button.

[TheRivieraKid]

Thanks for the replies!

 

It’s a 0.2 acre plot in a really nice area. A four bed detached with a similar size garden goes for around 650-700 range. I’ve never done a self build but always loves the idea of it.

 

As for mortgaging, I think it would be ok as it does have bricks on the exterior, and the agent says it has the PRC repair certificate (from the 1990’s, I believe). They seem quite certain that there’s no scope for loft conversion. I spoke to one structural engineer who didn’t even seem keen to have a look. Said these buildings can be a bit awkward and complex. If there was a way to build a loft without a full rebuild it might just about be viable.

 

At £2k/sqm it would put the total cost quite a bit above the ceiling for the street. 
 

I’ll try and get hold of an architect, and I will probably be back with more questions.

[TheRivieraKid]

29 minutes ago, Faz said:

On a greenfield new build in Cambs (to a high spec - mvhr etc) I am looking at topping out at £110psf. My time has been for free mind you - forkie, site manager, handyman etc.

 

The final costs depend on what you are hiring in - best of luck with it mate if you press the button.

Thanks. £110psf sounds really reasonable. How much would you think the cost would increase without your own labour?

[dpmiller]

As it's a prefab, is it considered a dwelling suitable for rebuild even?

[Faz]

7 hours ago, TheRivieraKid said:

Thanks. £110psf sounds really reasonable. How much would you think the cost would increase without your own labour?

It would probably add £30 psf or so. Trade pricing would make a similar difference.

[nod]

9 hours ago, Faz said:

On a greenfield new build in Cambs (to a high spec - mvhr etc) I am looking at topping out at £110psf. My time has been for free mind you - forkie, site manager, handyman etc.

 

The final costs depend on what you are hiring in - best of luck with it mate if you press the button.

We came in at £815 m2 at a very high spec Two and half years ago 

I’m guessing our next one Which is due to start soon will be higher Due to price rices 

But having services onsite will help your budget enormously 

[DragsterDriver]

10 hours ago, Faz said:

On a greenfield new build in Cambs (to a high spec - mvhr etc) I am looking at topping out at £110psf. My time has been for free mind you - forkie, site manager, handyman etc.

 

The final costs depend on what you are hiring in - best of luck with it mate if you press the button.

 Where in Cambs did you build? I’m starting near Ely  

[Faz]

Just outside Ramsey.  Good luck with yours. Give me a shout if you are stuck for trades - I have had some great people through the site. Only problem has been the tiler - he does great work but is hardly ever there. Starts at 10 and disappears at 3 on the rare occasions he does rock up.