EnglishFlynn Posted September 15 Share Posted September 15 Hi Everyone, first post here Im based in the south west and have been doing projects for clients for the most part. My dad is a builder and has been in the trade for 20+ years Recently ive been looking for a small self build plot to live in but am struggling to appraise how much equity id be able to add by building myself. Between my dad and i we can do almost every aspect of the build except the roofing, plastering and rendering. My dad is under the impression that by doing most of the work ourselves, we should be able to build comfortably for ~£1k per sqm and use that as a moving target. Im just wondering what everyone thinks the material only cost is for building a 3 bed detached house (120sqm) finished with pebbledash and more than likely an ICF construction, finished to trade standard. Obviously its a case by case basis but just wanting to hear everyone's experiences. Just for further context, the current asking price for the plot of land is £115k and the GDV is ~£325k, after you add the development finance it feels like it would be hard to make it worth doing. Link to comment Share on other sites More sharing options...
nod Posted September 15 Share Posted September 15 We’ve just sold our last build 280m2 Land 150k Build cost 220k Sold 750k Important bit Lived in-for three years No Cil or Capital gains to pay Link to comment Share on other sites More sharing options...
mjc55 Posted September 15 Share Posted September 15 1 hour ago, nod said: We’ve just sold our last build 280m2 Land 150k Build cost 220k Sold 750k Important bit Lived in-for three years No Cil or Capital gains to pay Less than £800 per sq. m. That's good going! Link to comment Share on other sites More sharing options...
MikeSharp01 Posted September 16 Share Posted September 16 9 hours ago, EnglishFlynn said: Hi Everyone, first post here Hi and Welcome to THE forum for people like us. We are doing most of the work ourselves except the roof slating and fitting the 3G windows. Ours is 150m2 , so not huge, and expecting to be a passive house and so quite technical. I think we will come in around £1 - 1.2k /m2 but only just for the build itself. Although if we go high end for the Kitchen and the main flooring will maybe push that over a bit. If you think about it on 150m2 build every £1000 spent puts slightly over £6.50 on the per square meter price so you need to watch the pennies. Link to comment Share on other sites More sharing options...
nod Posted September 16 Share Posted September 16 5 hours ago, mjc55 said: Less than £800 per sq. m. That's good going! 5 hours ago, mjc55 said: Less than £800 per sq. m. That's good going! Final figure with landscaping was 815m2 6 years ago Weve just finished our second and we will be under 1000 m2 this time Link to comment Share on other sites More sharing options...
Dave Jones Posted September 16 Share Posted September 16 You will definitely be below market rates using free labour but if you need to borrow against the build to fund it you will need to get is QS'd real world which means £3-5k m2. Doesn't mean you have to spend all that but alarm bells will go off with the lenders if you start quoting fantasy m2 rates. plenty of cheap online QS services who will take your plans and price them to the nail. Bear in mind they exclude 2nd fix items, anything below DPC unless you provide them the spec, steels etc unless you give them a SE drawing. Also account for all the paperwork fees and there are a lot now, warranty, insurances, bio-diversity, SE, SAP, etc etc another £15-25k Plot sounds expensive for the area. Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 16 Author Share Posted September 16 18 hours ago, nod said: We’ve just sold our last build 280m2 Land 150k Build cost 220k Sold 750k Important bit Lived in-for three years No Cil or Capital gains to pay That is good going, nice chunk of change youve put behind you. Onto the next one soon? Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 16 Author Share Posted September 16 11 hours ago, MikeSharp01 said: Hi and Welcome to THE forum for people like us. We are doing most of the work ourselves except the roof slating and fitting the 3G windows. Ours is 150m2 , so not huge, and expecting to be a passive house and so quite technical. I think we will come in around £1 - 1.2k /m2 but only just for the build itself. Although if we go high end for the Kitchen and the main flooring will maybe push that over a bit. If you think about it on 150m2 build every £1000 spent puts slightly over £6.50 on the per square meter price so you need to watch the pennies. For the project to be worth it, id need to be on the lower end, although this one is fairly straight forward Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 16 Author Share Posted September 16 11 hours ago, nod said: Final figure with landscaping was 815m2 6 years ago Weve just finished our second and we will be under 1000 m2 this time Using £1000 m2 should be a better bench mark as its more recent, this was around about what i was expecting Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 16 Author Share Posted September 16 9 hours ago, Dave Jones said: You will definitely be below market rates using free labour but if you need to borrow against the build to fund it you will need to get is QS'd real world which means £3-5k m2. Doesn't mean you have to spend all that but alarm bells will go off with the lenders if you start quoting fantasy m2 rates. plenty of cheap online QS services who will take your plans and price them to the nail. Bear in mind they exclude 2nd fix items, anything below DPC unless you provide them the spec, steels etc unless you give them a SE drawing. Also account for all the paperwork fees and there are a lot now, warranty, insurances, bio-diversity, SE, SAP, etc etc another £15-25k Plot sounds expensive for the area. The plot has been on the market for 4-5 months already so its clearly not a crazy deal, just trying to get an idea for the next one that comes up. Also the most painful part is the development finance, i think qs ing the build at the right price will allow us to take some wage as we build it too. definitely will bear in mind professional fees too Link to comment Share on other sites More sharing options...
nod Posted September 16 Share Posted September 16 10 minutes ago, EnglishFlynn said: That is good going, nice chunk of change youve put behind you. Onto the next one soon? Yes second one is looking about 550k including the plot and a 50k field Valuation is 1.3 million Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 17 Author Share Posted September 17 15 hours ago, nod said: Yes second one is looking about 550k including the plot and a 50k field Valuation is 1.3 million Damn, did you use dev finance or were you able to self fund? Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 17 Author Share Posted September 17 Just now, EnglishFlynn said: Damn, did you use dev finance or were you able to self fund? Also what did you pay for the plot out of that 550?? Link to comment Share on other sites More sharing options...
nod Posted September 17 Share Posted September 17 We self funded The plots where a strange one A friend had two plots and a field We gave him 150 per plot and 50 for the field Weve since been offered 275 for the remaining plot It was over lockdown and with talk of a massive 1920s type recession He jumped at it He actually owns a Groundwork’s company and loaned me the plant to do the build Link to comment Share on other sites More sharing options...
EnglishFlynn Posted September 18 Author Share Posted September 18 On 17/09/2024 at 16:04, nod said: We self funded The plots where a strange one A friend had two plots and a field We gave him 150 per plot and 50 for the field Weve since been offered 275 for the remaining plot It was over lockdown and with talk of a massive 1920s type recession He jumped at it He actually owns a Groundwork’s company and loaned me the plant to do the build Sounds like a mega deal, will you be building up the second plot once youve lived in the current one for a few years? Link to comment Share on other sites More sharing options...
nod Posted September 18 Share Posted September 18 Yes Theres nothing to stop us moving sideways All tax free 1 Link to comment Share on other sites More sharing options...
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