buying land or houses to renovate

td

Hi,

We would sometime in the near future like to either self build or renovate an old house.

Looking back in the archives I have seen recommendations for the following sites and wondered if anyone has ever used them - I don't mind paying for subscription if I know they are reputable.

And does anyone have any other good sites or sources of info - i get the local paper to check but land seems a bit thin on the ground (get it? - sorry)

http://www.buildstore.co.uk/findingland/

http://www.ebuild.co.uk/building-plots.htm

td x

simonkirkland

Hi,

I use plotsearch through buildstore and they have a regular influx of plots/renovation properties. Although I have yet to find the plot that I'm after, mainly due to price.

What area are you after and what sort of price?

Also if you are thinking of joining plotsearch phone them up and barter for the price as I got the whole package (3 counties, aerial phot, plotshare and email alert) for <£40 which is normally £80...

I also buy the 'build it' and 'house building and renovation' magazine - both available from whsmiths...

Hope this helps

Simon

meanmachine_2

If you can make money from renovations in the present climate, good luck to you.

But in a falling market, sounds like a lot of hassle for very little return.

Have you noticed on the recent series of Property Ladder than NONE of the muppets on there made a profit?

simonkirkland

Very true, but I don't think I or TD mentioned making a profit?

I'm looking for a plot of land to do a self build on as there is profit to be made in this but this isn't why I want to do it. I'm doing it to get on the property ladder as I have the skills and contacts but not the money (or at least not a mortgage lender who'll lend enough money) for the house that I want...

Simon

zag2me

I wouldnt build your own property for financial reasons, I would do it for personal reasons such as getting what you want, or building something that is not available in the normal houseing market. Land is even more overvalued than property at the moment and It would proabably cost you more to build your own place than buy it. If you are a builder and have people who can work for a good price, then maybe it will make financial sense, but its a hell of alot of hassel for very little return in the current market.

simonkirkland

I've done my sums and the plan is to build a 4 bed detached house with garage.
The land is looking to be £150k for a 0.1-0.2 acre plot and the building work (inc, foundations, etc...) will cost me £60k. This sort of house around here (worcestershire) is worth £250-300k. So even if it ended up costing me more like 80k for the house it's still worthwhile....

The problem is... I don't have £200k!!!

Ideally I want some land for <£100k and then I can afford it...

Thanks

Simon