Cost to build a house?

PasturesNew

vivatifosi wrote: »

Your phase 1 extension is bigger than my current house. Your phase 2 extension is bigger than my old house:o. To quote my Dad when I asked him for some ideas for your project "that's a bl**dy big extension".

Because you posted this I had to work out how big it is, as the numbers had slipped me by. I'm old school, so square metres all have to be converted back into "old money".

Rounding it, that's 93 and 40 square metres, which is 1000 square feet and 430 square feet.

1000 square feet is like a 2 storey extension of 32'x16'
430 square feet is a 2 storey extension of 15'x15'

It needs a Parish Council, not a builder.

des_cartes

silvercar wrote: »

The old addage was one third land, one third build and one third profit.

Correct. Therefore the DIY cost of the average UK [STRIKE]dream home[/STRIKE] shoe box is about 40k.

Mary_Hartnell

Forget the shoe box somewhere in the provinces.

You could buy a whole hundred year old terraced home here for less than 40K
For example:
3 bedroom house for sale Worsdell Street, Cambois, Blyth NE24 £29,950
Notice Of Offer 29 Worsdell Street, Cambois, Blyth, NE24 1SD. We advise that an offer has been made for the above property in the sum of £28,500. any persons wishing to increase on this offer should notify the agents of their best offer prior to exchange of contracts. Reeds Rains. 36 Regent St...


http://getamap.ordnancesurvey.co.uk/getamap/jsp/map_print.jsp?mapX=431500&mapY=582500&zoomLevel=6&isNI=&mapAction=zoomabs&isGeo=y

However if you do the sums on the article below for the money that BP needs (someone has to pay for the Gulf Of Mexico) for an M25 corridor development, according to the following link; the numbers work out a bit like this:
Cost of each plot: 500,000
Plots per acre: Roughly 5 (but garden size considerably less - roads!)
Profit per acre to the land owner 2,500,000 less (say) 15,000 agricultural value.

Champagne cocktails all round.

http://www.buildinglanduk.co.uk/uk-greenbelt-development.htm

Costs of the bricks and mortar per "Executive" house 150,000 ?
Depending on spec, but the seriously wealthy won't want to live on a housing estate.

HAMISH_MCTAVISH

Builder profit is easy enough to work out. Look at the published results for the listed building companies. The most recent seem to indicate it's around £12,000 per house with an average house they build selling for £172,000 or so.

Now on the one hand that will take into account the fact they have head office expenses, debt service costs, etc, as a national company. But on the other hand it will also take into account their economy of scale.

The big difference, as has already been pointed out, is land costs. Both between land with and without planning permission, and also between land in different locations where supply and demand is the only determinant.

A plot of land with planning permission in Mayfair is worth many millions. A plot of land with planning permission in rural Scotland is worth only a few tens of thousands.

A victorian brick terraced house in the North of England can be bought for 60K or so. An almost identical victorian brick terraced house in central London is more like 600K. The insurance replacement cost to rebuild both houses will be pretty much the same. The value of the land they sit on however, is greatly different.

Which is why anyone posting a fixed percentage of what should be land, build and profit in this thread will almost certainly be wrong. It varies massively by area. If you want to build a house in some areas, the land can cost twice or more what the build does. In other areas the land may cost half what the build does. There are no set percentages.

Mary_Hartnell

Incidently the lowest price I could find on this map for a terraced house a year ago (one of several repossessions) was over 40K

http://getamap.ordnancesurvey.co.uk/...oomabs&isGeo=y