Cost of Building On Plot

Beancounter

We live in Aberdeenshire, have a house which I reckon is worth about 190K with a mortgage of £28K left.

I would like to buy a plot to build a house and hopefully go mortgage free. What would the approx building costs for an average 3 bedroom house?

Not a huge issue if we can't clear the mortgage but it would be nice!

Gwhiz

Impossible to answer accurately but a typical house, where you get everything done for you, would cost anything from £100 to £150 a square foot.

All depends on number of floors, built type (brick and block, timber frame), quality etc etc etc

Beancounter

Just downloaded a graph from http://www.theselfbuilder.com/self-build/finance/average-build-cost-guide which backs up what you said. Looking at mid spec we would be about £949 per m2 for a 2 storey house.

jennifernil

Have you looked at what the land will cost? That is usually a large chunk of the total costs.

JQ.

jennifernil wrote: »

Have you looked at what the land will cost? That is usually a large chunk of the total costs.

Exactly that - the biggest cost is land with residential planning consent. And I believe the property market in Aberdeen remains quite buouyant - where's there's oil there's money.

The comments above of £100 to £150psf build costs sound reasonable

Beancounter

Thanks folks, not looking for a huge plot, to be honest that's why I want to move, got a huge garden at the moment and no time/energy to tend to it!!

The size we are looking at in the locations we would be looking for would cost anything from 80K upwards so I guess the dream of paying of the mortgage is just that, a dream.:D

lincroft1710

A decent size 3 bed will be at least 100 sq m gross external area. Say £1k psm build costs = £100k, plot, fees contingencies etc say another £100K+, so at least £200K.