New build house in garden

rickyredsc

Hi All,

Im currently still living at home with my parents, we live in quite a big semi detached corner house with a big long garden. Recently the house next door has been put up for sale for around £240,000. We are considering buying this house as with the combined size off the two gardens we think we would be able to build a new third house which could be sold off at a profit.

Obviously this is a complex procedure and I wanted to ask if anyone had any advice about thesteps to take to acheive this or any comments from personnal experience.

In my mind the first step would be to obtain planning permission to build the third house, then after that we would need to purchase the house next door, and thirdly begin the process of building the third house.

my questions are as follows-

what is involved with obtaining planning permission in terms of costs?
what sort of mortgage repayments would we be looking at for the house next door?
How could you fund the build of the new house and what sort of costs would we be looking at for that?

any advice would be appreciated.
Cheers
Rick

boam

Rickyredsc wrote: »

Hi All,

Im currently still living at home with my parents, we live in quite a big semi detached corner house with a big long garden. Recently the house next door has been put up for sale for around £240,000. We are considering buying this house as with the combined size off the two gardens we think we would be able to build a new third house which could be sold off at a profit.

Obviously this is a complex procedure and I wanted to ask if anyone had any advice about thesteps to take to acheive this or any comments from personnal experience.

In my mind the first step would be to obtain planning permission to build the third house, then after that we would need to purchase the house next door, and thirdly begin the process of building the third house.

my questions are as follows-

what is involved with obtaining planning permission in terms of costs?
what sort of mortgage repayments would we be looking at for the house next door?
How could you fund the build of the new house and what sort of costs would we be looking at for that?

any advice would be appreciated.
Cheers
Rick

First off Visit

http://www.planningportal.gov.uk

This will give you a step by step guide, and should estimate cost....

Repayment morgage would be roughly about 1000-1500 dependent on what type of morgage you require.

To fund the build of the house, couldnt you get your parents to remorgage there existing home? if you wanted to build a new house!!!

or you could be bold and do the below.

If you could get planning permission, i would suggest as it sounds a sizeable plot of land is to buy the house next door, then obtain planning permission to to demolish the 2 existing houses and build a some flats. then sell the 2 houses with all the plannning permission so it keeps the cost down, and you should make a pretty tidy sum for doing little or no work.....

harryhound

Hi Rick,

Are you a trainee brown field site developer?

You are proposing a venture by way of trade; but you may well get away with portraying the result as a principle private residence lucky break.

Property developers have to pay tax on their profits.

Find other examples in the neighbourhood where this has been done and then have a quiet word with the local planning department, or better still find a friend who does this for a living.

Planners don't like what they call "tandem development" so you may be looking at "supersize me", where a perfectly good family house is knocked down and replaced by a footballers' wives look-at-me structure.

Are you parents prepared to be hated by other people in the road?
(Mostly pathetic envy BUT you would have a large carbon footprint by the time you finished)

Have you got the money to go to appeal?

Do you understand the concept of options on land ?

I am sure you have been watching some of the "property !!!!!!" programs on the TV - I find Sarah Beeny the one who best understands the jungle out there. The annoying thing is that up to now, even complete idiots usually come up smelling or roses, but we have retail inflation of 4.8% now, if interest rates don't go up we will be heading back to the 1970's; so beware. The next series might be the "schadenfreude" series. If the land is half the price of a house, what happens if house prices go down 50% ? You have got it; its called gearing.

Harry.

PS can I have an invitation to the house warming party:D

(I've got it, your married sister (different name, can you trust her ?) buys house B, then lucky break: along comes you and offers to buy a chunk of the gardens of houses A & B and builds house C. Everyone is quids in.
However half way through this master plan the bottom of the garden is found to be a habitat for the lesser spotted wurzle snike, the builders first trench reveals a Viking long ship plus unknown mine workings, meanwhile the neighbours petition the council, and, as the mayor lives next door, tree preservation orders are put on every stick in the garden.)

Debt_Free_Chick

Rickyredsc wrote: »

We are considering buying this house as with the combined size off the two gardens we think we would be able to build a new third house which could be sold off at a profit.

The first place to look is in the Local Development Framework for the local council. This specifies where new development will - and will not - be allowed. If you are outside of the "new development allowed" boundary, you will one helluva battle getting planning permission.

If you are inside, then subject to the planning laws and local planning policies, you can undertake new development.

mystic_trev

boam wrote: »

If you could get planning permission, i would suggest as it sounds a sizeable plot of land is to buy the house next door, then obtain planning permission to to demolish the 2 existing houses and build a some flats. then sell the 2 houses with all the plannning permission so it keeps the cost down, and you should make a pretty tidy sum for doing little or no work.....

I know someone who tried this and got badly burnt! A lot of it depends on the location. You can't knock down a couple of houses anywhere, and then build a block of flats!

BungleGirl

We didn't do what you are talking about but when we sold our last house we realised that it had the potential to build another house in the garden (there was even a gap in the house numbers which made us think that it had been planned a long time ago).

We spoke to several estate agents and had a few dvelopers round - they all said that they would require outline planning permission before they bought anything. We got outline and then sold for £50,000 more than we would have got for just selling as a house with a large garden.

They messed us about whith completion dates - we eventually twigged that they had applied for detailed planning permission and wanted to wait for that before they completed). They built two semi-detached houses quite quickly (we completed in July 04 and the houses were up around October 04) BUT THEN it took them ages to sell the houses!!! The original house went quite quickly, then the 1st of the semis but the last one only sold about six months ago - that is almost 2 1/2 years after we sold the house. They also had to drp the asking price for the ne builds quite a bit and they ended up switching estate agents a couple of times.

We were pleased that we had decided not to develop the land ourselves!

BTman

BungleGirl wrote: »

(there was even a gap in the house numbers which made us think that it had been planned a long time ago).

Not 11 and 15 by any chance?