Move or not?

[Lockhouse]

I've got a nice 4 bed detached house in the centre of town (not London) that can't be extended due to close proximity of other houses but I'm thinking of downsizing to a slightly smaller and cheaper house outside of town that has just come on the market. This smaller house comes with 1/2 acre of land. I would then spend 200K on it to extend it into a monster gaff that would normally be out of my price range. Good idea or not?

[milanbenes]

sounds good

go for it

now is the time to get good prices from builders and suppliers for that kind of

timing couldn't be better

Milan.

[alreadypacked]

I've got a nice 4 bed detached house in the centre of town (not London) that can't be extended due to close proximity of other houses but I'm thinking of downsizing to a slightly smaller and cheaper house outside of town that has just come on the market. This smaller house comes with 1/2 acre of land. I would then spend 200K on it to extend it into a monster gaff that would normally be out of my price range. Good idea or not?

A friend of mine took this route, one year later really fed-up no escape from builders, feels stressed out all the time. Really sorry now, wants to walk away. Will sell up asap.

[BrilloPad]

I've got a nice 4 bed detached house in the centre of town (not London) that can't be extended due to close proximity of other houses but I'm thinking of downsizing to a slightly smaller and cheaper house outside of town that has just come on the market. This smaller house comes with 1/2 acre of land. I would then spend 200K on it to extend it into a monster gaff that would normally be out of my price range. Good idea or not?

Are you sure you would get planning permission?

[milanbenes]

you don't wanna worry about details like that

as long as you are not planning to sell later you don't need planning do you ?

Milan.

[ChimpMaster]

I've known people who have done this and it is so much easier said than done. If you have the time and patience to manage the project and find yourself decent builders then you will be at an advantage.

The rewards speak for themselves but I'm not sure I would want to go through the stress myself.

Make sure the property you buy isn't on restricted development land. Also consider that often it's better to knock down the whole property and build from scratch. This will take longer (esp. for planning permission) and might cost marginally more but you will get the house you want.

[milanbenes]

Lockhouse,

where are you, my cousin is a builder - could connect you with him.

As far as I understand these days, there are simply high level measurements
for estimations, like basically for example 750 gbp per square metre.

Milan.

[Lockhouse]

Lockhouse,

where are you, my cousin is a builder - could connect you with him.

As far as I understand these days, there are simply high level measurements
for estimations, like basically for example 750 gbp per square metre.

Milan.

Thanks for the offer but I've just spoken the the agent and the property sold subject to contract yesterday.

[DimPrawn]

Evertime I make a shortlist of suitable properties they are sold within days and any offers I make below asking price are rejected out of hand.

Property is BOOMING

Looks like there's no shortage or cash or credit out there to me and jobs must be plentiful for people to be making such bold commitments.

Never mind, I'll have to wait for the Tories to get in and stuff up the economy.

[RichardCranium]

Never mind, I'll have to wait for the Tories to get in and stuff up the economy.

A year or so with interest rates at 18% should bring property prices down a bit.