please help this FTB to decide

centennial

Hello all,
I have been to this forum before and always received very helpful advises. I am back with same expectation. Actually I am looking for flat since long time but things never got clicked. Initially I was looking for flat around 120k to 150k mark. Recently I saw one flat which I liked and asking price is 150k. But If i can go for 3bhk house, which will cost me near about 240k mark and get it converted into two flats. First thing I will get both flats newly build and second if I sell one then It will cost be less for another flat where I would like to live and will have access to freehold as well.

So I need you guy's expert advice. As far as mortgage is concerned that shouldn’t be any problem as I have around 32k in deposit and joint salary is around 70k mark annually.

If someone could please tell me:

Procedure to get the permission from council to convert the house into flats.

How long does it take to get permission

how much it will cost me to convert the house into flats

waiting for reply.

many many thanks in advance,
Centennial

VIGILANT22

You dont receive expert advice here......Go and consult professionals for that

Owain_Moneysaver

centennial wrote: »

If someone could please tell me:

Procedure to get the permission from council to convert the house into flats.

You go to your local council planning department, complete the relevant forms and pay the fee.

How long does it take to get permission

Depends on whether it complies with the local planning guidance. It might get nodded through within a few weeks, or it could take years with appeals to Ministers. Or it might be impossible.

how much it will cost me to convert the house into flats

Depends on how much work needs to be done. Might be £20k. Might be £100k. Might be a lot more. As well as planning you will also need Building Control approval. You may need to pay for new gas/electricity/water/sewage connections. You may have to provide additional parking space. If it's on a main road it's no longer permissible for cars to reverse out of the drive into the road, so you may have to provide a turntable.

Emmzi

you have a 32k deposit.

Now go watch Sarah Beeney property development programmes and watch the inevitable cost overruns.

You don't have enough of a cash cushion to even consider this IMHO.

Bad plan without lots more cash. Walk away.

Emmzi

ps this is a community style forum. I see you asking questions, I don't see you helping other people. Bit of give and take?