Land development

[Clippy]

The problem is that land with planning permission or potential to demolish and rebuild is priced too high.

Similar to houses that need refubishment priced equivalent to estimated value after refurb minus estimated cost of refurb.

Hard to find bargains, unless you're willing to put up with flaws such as near a pylon, railway line, motorway, floodplain, or disused mine shaft.

In the last 10 years or so speculating developers have cornered the market. Many estate agents have preferred clients (builders who may have 'done a deal' with them to get first nod) they contact before advertising new land/properties to the wider audience. So any advertised suitable land is going to be top whack.

Agreed - many years ago, you could negotiate for well below what it would cost to refurb the property thus ensuring a healthy profit.

 

[milanbenes]

two words....


due diligence



Milan.

 

[DimPrawn]

Buy up cheap land/rundown detached house/bungalow on large plot at auction.

Apply and pursue PP for large modern house.

If successful, sell for large profit or build it an live in it.

If not, sell at auction and get your money back. Rinse and Repeat.

Simples.

 

[MarillionFan]

We had this discussion a while back somewhere. One of the less regular posters had built some flats and an office. He went into quite a bit of detail if I remember rightly.

Use the bloody search option above.

MF in 'Northernlad' Mode.

 

[Clippy]

We had this discussion a while back somewhere. One of the less regular posters had built some flats and an office. He went into quite a bit of detail if I remember rightly.

Use the bloody search option above.

MF in 'Northernlad' Mode.

So you were touching yourself when you posted this?

 

[MarillionFan]

So you were touching yourself when you posted this?

Wearing stockings and suspenders?

Yes.

 

[ChrisPackit]

I did exactly this 3 years ago. Bought just over 1/3 acre land (£150K) in the North Manchester area and built my dream 5 bed house, but more importantly a Quad car garage. Cost about £200K maybe a bit more, and house was valued at £475K recently. Apart from the obvious cash return (which is only certain I guess when one actually sells it), the experience for me was amazing as I did a lot of the work myself. I'd just sold a business, had 6 months off to work on the build then returned to contracting to pay to finish it off!

Stressful, isn't the word though. If you plan to PM it and so some yourself as I did, expect huge headaches, add 50% to what you think it will cost, some physical exhaustion and a near divorce thrown in and you may be somewhere close. Mine is still only 95% finished, there's always something to keep me occupied, but very rewarding.

If you want to PM me for some sound advice rather being ridiculed on here let me know...

 

[EternalOptimist]

I did exactly this 3 years ago. Bought just over 1/3 acre land (£150K) in the North Manchester area and built my dream 5 bed house, but more importantly a Quad car garage. Cost about £200K maybe a bit more, and house was valued at £475K recently. Apart from the obvious cash return (which is only certain I guess when one actually sells it), the experience for me was amazing as I did a lot of the work myself. I'd just sold a business, had 6 months off to work on the build then returned to contracting to pay to finish it off!

Stressful, isn't the word though. If you plan to PM it and so some yourself as I did, expect huge headaches, add 50% to what you think it will cost, some physical exhaustion and a near divorce thrown in and you may be somewhere close. Mine is still only 95% finished, there's always something to keep me occupied, but very rewarding.

If you want to PM me for some sound advice rather being ridiculed on here let me know...

impressive. what about the plumbing and the wiring ?

 

[ChrisPackit]

My plumbing has always been in check, thank you!

Some of the stuff I did was fit first floor joists, board first floor, fit stairs, most of first fix electrics, most of first fix plumbing, fitted out all (5) bathrooms, built whole upstairs studded walls, insulated and plasterboarded upstairs, fitted windows and conservatory.... ****...I'm struggling to think of things ! Pretty much everything except for foundations, brickwork and roof trusses.

 

[EternalOptimist]

My plumbing has always been in check, thank you!

Some of the stuff I did was fit first floor joists, board first floor, fit stairs, most of first fix electrics, most of first fix plumbing, fitted out all (5) bathrooms, built whole upstairs studded walls, insulated and plasterboarded upstairs, fitted windows and conservatory.... ****...I'm struggling to think of things ! Pretty much everything except for foundations, brickwork and roof trusses.

blooming heck.

I put a tent up in Keswick a few weeks ago and I was dead chuffed with meself