Building a house on side of house

surfer9

Hi everyone,

I am forever wanting to get on the property ladder. I am forever having to work out how I am going to do this due to how house prices have skyrocketed since 2012.

I currently live in a house-share. I live with others who have the same dilemma as me. I am single, but 2 of my housemates are in a relationship. I have hefty savings, they don't.

An plan would be: The 3 of us buy 1 house with enough land on the side of the property to be able to build another house.....

I give my savings to them and they get a mortgage to buy a property. They hand over the land on the side of the property to me. I request planning permission to build a similar sized home on the side of their property with their permission of course. Assuming it is relatively typical to be accepted permission to build, building commences. Happy days.

1. What are the chance of being given the go ahead to build? The plan would be to build in-keeping with the houses on the same road and take everything into consideration in order for the application to be accepted. What could prevent me from being permitted to build?

2. Any idea of the cost of building a house of similar size/style to the house on the left in the photo below. The idea would be to build to the left of it.

unforeseen

For a start the mortgage lender is not going to allow them to give away the land to you.

surfer9

unforeseen wrote: »

For a start the mortgage lender is not going to allow them to give away the land to you.

So we'd need to buy the house outright before we can do any exchange of land?

Cheeky_Monkey

As the great John Mc would say "you cannot be serious"!!!!

What could possibly go wrong :rotfl::rotfl::rotfl:

davidmcn

The OP has a history of presenting "creative" housing solutions to the forum.

Gigervamp

It sounds like a bad idea. If you give them the money to buy the house, and it sounds like you wouldn't be on the deeds, what's to stop them going back on the deal and refusing to let you have the land, if their mortgage provider would even let them?

How would you be able to pay for the costs of the build?

If you have a large amount of savings, why can't you just buy your own place?

fairy_lights

Where are you going to get the money from to build this second house?
More likely you'll end up living in a caravan on the driveway.

[Deleted User]

fairy_lights wrote: »

Where are you going to get the money from to build this second house?

He could sell the land he's just been given.

Simple!

ST1991

You'd be better odd buying a house with more land that already has planning permission. Although they are often priced to reflect that.

No point buying a house with a plan that may never happen. Council might just say 'no' and that's that. You'd have a better chance of putting on a massive extension and then dividing into flats a & b.

Although, IMO this is a terrible idea.

If you have hefty savings, put it down as a deposit for yourself, don't 'gift' it to anyone else.
Buy somewhere small you can afford, that you think might increase in value over the coming years.
Or... keep saving until you have enough for somewhere bigger - in which time you might have someone who isn't a housemate to buy with!

Cakeguts

Use you hefty savings as a deposit on a house in an area where you can afford to buy. People move to areas that they can afford.

surfer9

The way I wrote my post didn't help. It was a wild shot. Like trying to shoot a gazelle with a banana.

I'll put it another way. The 3 of us get a mortgage together, we build a big extension, I live in the extension which will effectively be a separate house.

I know I'm crazy.


Buying a house around where I live for what I can afford...... I might be able to get a mobile home.

I thought things like Shared Ownership were to try to help people get on the property ladder. Here the only 1-2 bedroom apartments being built are valued at £300,00-£400,000, You can get a share of 30% (£90,000), but have to pay £600 in rent and service charge costs. As I both live and work in this town I am only limited to what Shared Ownership they have here and none of it is affordable. There are affordable Shared Ownership properties locally, but I am not permitted to buy them as I don't live of work in those particular areas. I would buy them but can't.

Ooooh, I have just found a plot of land for £80,000 locally which could potentially be built upon. Maybe this is another opportunity. I can maybe build my Shipping container home here. Will keep you informed.