First complete renovation/ House build - locating a site. Website, or recommendations. pls

[DanielE]

Hi all, 

 

I am considering buying either land OR  a property, which is in complete need of an overall, rip out and start all again. 

 

My main reason for doing it this way, is that I can be in control of the quality. 

 

I don't think I actually have the balls to get it all done myself. 

 

Before I consider it is viable, I am having trouble even finding properties!

 

I am currently living in South London, but am considering anywhere up to, and around 10-15 miles further out from Guildford, and Godalming. 

 

So I need a site in Surrey, or Hampshire ideally. Or properties, that also need a significant amount of work doing to it. 

 

 

Edited Wednesday at 14:09 by DanielE
Spelling mistake.

[Richard - N]

Good afternoon,

I have found it useful to introduce myself to the local estate agents as they all get to see auction properties or complete renovations prior to going onto the market sometimes.. I did this with my first property in Farnham and all went well....

[Indy]

One option that worked for me personally was finding an old bungalow / probate sale type property. Large(ish for the area) plot with a relatively small house that allowed redevelopment.

 

It doesn't stack up for a developer as there's no margin in these things but just about work for a self builder to do them up for themselves and live in. 

 

What's your budget out of interest (as you've chosen 2 of the most expensive home counties)?

[DanielE]

1 hour ago, Richard - N said:

Good afternoon,

I have found it useful to introduce myself to the local estate agents as they all get to see auction properties or complete renovations prior to going onto the market sometimes.. I did this with my first property in Farnham and all went well....

 

Hi brilliant idea, should I be looking at auction for these properties? 

 

I should probably clarify, I would like to project manage, - as opposed to doing the work myself. 

 

 

 

[DanielE]

1 hour ago, Indy said:

One option that worked for me personally was finding an old bungalow / probate sale type property. Large(ish for the area) plot with a relatively small house that allowed redevelopment.

 

It doesn't stack up for a developer as there's no margin in these things but just about work for a self builder to do them up for themselves and live in. 

 

What's your budget out of interest (as you've chosen 2 of the most expensive home counties)?

 

 

Hi, 

 

I would have to do far more research - I am just fed up of seeing the same near identical looking properties going up. 

Well I am single so looking at 3 bed properties, the price for them newly built or refurbished seems to be in the region of 600k - 750k, 

 

I could ring the bank of family and ask for another 50-100k as a last resort.

         

[Indy]

42 minutes ago, DanielE said:

 

 

Hi, 

 

I would have to do far more research - I am just fed up of seeing the same near identical looking properties going up. 

Well I am single so looking at 3 bed properties, the price for them newly built or refurbished seems to be in the region of 600k - 750k, 

 

I could ring the bank of family and ask for another 50-100k as a last resort.

         

 

Auction could be a good idea but you need to really know what you're looking at, and then there's the accelerated timescales in which you need to complete. Great if you're a cash buyer and can work to those and there may be an opportunity to look at some bargains - haven't ever done so personally. I guess the riskiest factor with auctions is not knowing what you're buying or what horrors lie underneath the surface, but if you're looking at it as a knock down and rebuild - then all you're interested in is the underlying land and value the plot that way. 

 

With regards to the rebuild cost - you'd be looking at a minimum of about £2k/sq m if you're project managing yourself and anywhere between £2.5k - £3.5k for a full turnkey project managed build by a main contractor. That doesn't cover any cost of land, professional fees, specialist landscaping and joinery usually. Work on that basis and you can then calculate the size of house and value of land you're able to afford.

 

As to where to find them - I've only ever used the online portals (Rightmove, Zoopla etc) myself. Some people pay to access plotfinder services so you could try that if you wanted. 

[nod]

I’ve found that being ready to pull the trigger is your best bet Have your finances ready 

We were the third highest offer on our previous plot But in a better position