Buying land for future self build

mwpt

Thanks for the replies, things to think about and start on.

macca1974

most local councils have planning development plans that show where in the area they are thinking of allowing development over the next 5-10 years. You could do the research this way and maybe pick somewhere that is just on the outside edge of the current development plans in the hope that by the time you get to wanting to develop it, planning permission could be obtained.

But I would suggest that this type of thing can take an in-ordinate amount of time. As an example, my Grandfather was a builder in Shropshire and developed a small estate in the 1950's and he held onto 3 acres of land in the hope of future development. He died 30 odd years ago and the land is still held by myself and other family members. The current thought (based on talking to some planning experts in the area), is that we might see some movement in the next 10 years or so. Whilst this may be pretty helpful towards my retirement planning (or if not mine my childrens!) if it happens, it will have taken 60-70 years from when my Grandfather first thought it might be a good investment opportunity!

slowpoke_rodriguez

Just about all currently unbuildable plots round here (Surrey) either have a substantial overage on them, or ransom strip, or both, and they still ain't cheap!

ReadingTim

eddddy wrote: »

So you will have a huge amount of competition from people looking to make a fast buck (which is what attracts all the scammers), as well as the experienced professionals. But I guess you might get lucky.

It's not just those who are looking to make a fast buck - all of the major housebuilders are looking for land for new developments. The sort of scheme the OP is thinking about usually falls into what they call 'strategic land' - for example this lot: http://www.lindenhomes.co.uk/land

AnotherJoe

I think you'd better off buying a property that you think would be feasible to eventually demolish and build your "perfect house" on the plot or footprint, and rent that out for the next 15 years. As long as the house isn't falling down you can ignore things that may give other buyers concern, and if planning laws are relaxed its equally likely to be over what can be built on an existing site that greenfield, perhaps more so.

A lot of hassle but I dont see any benefit in buying land that is unlikely to get planning permission, will go to seed, and may not have any services nearby so will be expensive to connect.

DaftyDuck

AnotherJoe wrote: »

I think you'd better off buying a property that you think would be feasible to eventually demolish and build your "perfect house" on the plot or footprint, and rent that out for the next 15 years. As long as the house isn't falling down you can ignore things that may give other buyers concern, and if planning laws are relaxed its equally likely to be over what can be built on an existing site that greenfield, perhaps more so.

......

A possible alternative (and one that I've done) is to buy a scruffy house on a substantial plot, do the house up, and sell it on... but keep some of the plot.

Much as I like a larger garden myself, these days it quite often detracts buyers from houses.