Property prices set to drop
#31
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iTrader: (7)
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@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.
![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.
![Lol1](images/smilies/lol1.gif)
Last edited by ditchmyster; 27 April 2014 at 07:31 AM.
#32
Scooby Regular
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I think they have already lost out big time, hence all the bleating.
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.![Lol1](images/smilies/lol1.gif)
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.
![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.
![Lol1](images/smilies/lol1.gif)
If you don't like big cities you won't like London that's for sure. I've travelled quite a bit but still love coming back to London.
There are lots of run down bits but London also has a unique mix of cutting edge, heritage, history, arts, architecture etc. I also like the diversity especially in terms of food!
And I see the run down bits as 'opportunity' (once we get the benefit claimants out and send them up North to where Fatscoobfella lives
![Big Grin](images/smilies/biggrin.gif)
#33
![Default](images/icons/icon1.gif)
You cant send all the scroungers up to me.... We dont have any council (or social) housing in our village..Keeps away all the riff raff,spongers and people with no money,we dont want any undesirables in our conservation area...
Ditch...
We built a house for just over £90k....3 bedroom detached.. That was build costs only,not the land and granted it was 8 years ago...
We subbied all the work out as im useless at any kind of building..
I thought costs would be similar as materials seemed to have got cheaper if anything ?? Of course,i could be wrong as building is not my game..I was just going off experience.
Having lived in big Cities including London and Manchester and a short time in Birmingham i can readily confirm that London is the cesspit of the UK..
Diversity,history,heritage are present.....But its filled with awful people.
Ditch...
We built a house for just over £90k....3 bedroom detached.. That was build costs only,not the land and granted it was 8 years ago...
We subbied all the work out as im useless at any kind of building..
I thought costs would be similar as materials seemed to have got cheaper if anything ?? Of course,i could be wrong as building is not my game..I was just going off experience.
Having lived in big Cities including London and Manchester and a short time in Birmingham i can readily confirm that London is the cesspit of the UK..
Diversity,history,heritage are present.....But its filled with awful people.
Last edited by fatscoobfella1; 27 April 2014 at 10:02 AM.
#34
![Default](images/icons/icon1.gif)
With your faith in the market do you not think that, let's say for sake of argument that if house prices fell, that builders would not find ways to cut costs and still make a profit? What else can builders do but build? No building equals no profit.
#35
![Default](images/icons/icon1.gif)
Also you haven't factored in that the property market is also a mortage market, it is all dependent upon the price of credit. You don't buy crisps on a mortgage.
#36
Scooby Regular
#37
Scooby Regular
iTrader: (7)
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If markets were always 'correct' then we wouldn't have economic cycles, booms and busts, bubbles and crashes.
The crisps have gone up because of retail price inflation rather than price growth per se. You would probably find that you can buy more crisps with the average wage now than 40 years ago, but less of a house.
Also you haven't factored in that the property market is also a mortage market, it is all dependent upon the price of credit. You don't buy crisps on a mortgage.
The crisps have gone up because of retail price inflation rather than price growth per se. You would probably find that you can buy more crisps with the average wage now than 40 years ago, but less of a house.
Also you haven't factored in that the property market is also a mortage market, it is all dependent upon the price of credit. You don't buy crisps on a mortgage.
![Thumb](images/smilies/thumb.gif)
#38
![Default](images/icons/icon1.gif)
I think they have already lost out big time, hence all the bleating.
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.![Lol1](images/smilies/lol1.gif)
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.
![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.
![Lol1](images/smilies/lol1.gif)
Errrr yes you CAN build a house for 100k I know because this is what I do for a living and I have direct build costs on my spread sheets right now showing a 3 bed detached cost us 75k last year to build (not including overheads)
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
#39
Scooby Regular
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Thanks Matt, a very informative post.
May I ask a few questions?
You mentioned you built a house last year for £75k, how many m2 was it? And what did you mean by £75k 'excluding overheads'?
Many thanks
May I ask a few questions?
You mentioned you built a house last year for £75k, how many m2 was it? And what did you mean by £75k 'excluding overheads'?
Many thanks
#40
Scooby Regular
iTrader: (7)
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Errrr yes you CAN build a house for 100k I know because this is what I do for a living and I have direct build costs on my spread sheets right now showing a 3 bed detached cost us 75k last year to build (not including overheads)
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
Maybe some of the major house builders/devlopers can get the unit price down by bulk building and buying, but I stand by my statement that there is no ******* way a normal person if they had £100k budget will be able to buy land and build a house with all the costs INCLUDED not excluded.
![Wink](images/smilies/wink.gif)
Last edited by ditchmyster; 28 April 2014 at 05:05 PM.
#41
Scooby Regular
![Default](images/icons/icon1.gif)
Errrr yes you CAN build a house for 100k I know because this is what I do for a living and I have direct build costs on my spread sheets right now showing a 3 bed detached cost us 75k last year to build (not including overheads)
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
![Thumb](images/smilies/thumb.gif)
#42
#43
![Default](images/icons/icon1.gif)
Errrr yes you CAN build a house for 100k I know because this is what I do for a living and I have direct build costs on my spread sheets right now showing a 3 bed detached cost us 75k last year to build (not including overheads)
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
What you Can't do is :-
buy the land,
pay for numerous expensive consultation reports on anything from the odd speed bump to redirecting the local sewer network,
Satisfy section 106 agreements (tantamount to the local authority robbing you blind to pay for a new science block at the local school because they've blown the budget on god knows what else),
Finally get a recommendation to approve only for it to be refused by the local parish committee because nimbyism is now a recognised religion and **** everybody regardless that there is a desperate need for new housing
And also that mud rutted gorse and nettle ridden half acre field has suddenly become the new Jerusalem such that not even the combined lyrical waxing's of Keats Byron and Tennyson could adequate convey its bucolic charm and the signing of magna carta must have happened there as well probably.
Then trawl through the appeals process with v expensive consultants v expensive lawyers to have it overturned.
And on top of all this you also run the risk of getting up to 30% of your site sucked into social housing an unbelievably iniquitous piece of social engineering which says you MUST discount your new builds to the poor and needy.
the result being potentially a mini ghetto on your nice new build site.
I'm NOT saying its inevitable but there are plenty of horror stories and not just in the daily mail either.
Put it like this THE first question every buyer asks is "where is the social housing on the site" and the first plots sold will be those less exposed to them.
by the time you've done all this you may just make a profit hopefully 20 % but I have only broke even in the past.
This "theory" that house builders are hoarding land is just that.
this hoarding nonsense is about sites with onerous 106 agreements that were created when local authorities decided to cash in on the last boom by insisting contributions that relied on a house price increase over the development period.
Good post...
Are you talking about multiple houses and small estates here,or single dwellings ?
#44
![Default](images/icons/icon1.gif)
stupidity
it was a semi detached around 500 square feet (NOT meters thanks john)
Build costs assumes a simple flat serviced plot ie no big long driveway and all common services in the footpath close by
I class overheads as office expenses directors and admin salaries/vehicles (ie My wages) which obviously brings in economies of scale.
Build costs assumes a simple flat serviced plot ie no big long driveway and all common services in the footpath close by
I class overheads as office expenses directors and admin salaries/vehicles (ie My wages) which obviously brings in economies of scale.
Last edited by mattstant; 30 April 2014 at 01:42 PM. Reason: stupidity
#45
![Default](images/icons/icon1.gif)
So in short you agree with me then.
Maybe some of the major house builders/devlopers can get the unit price down by bulk building and buying, but I stand by my statement that there is no ******* way a normal person if they had £100k budget will be able to buy land and build a house with all the costs INCLUDED not excluded.![Wink](images/smilies/wink.gif)
Maybe some of the major house builders/devlopers can get the unit price down by bulk building and buying, but I stand by my statement that there is no ******* way a normal person if they had £100k budget will be able to buy land and build a house with all the costs INCLUDED not excluded.
![Wink](images/smilies/wink.gif)
"As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job."
land costs excluded I know I can build a small 3bed detached for 80k so if you assume the average punter may pay 20% extra a complete new build could be done for 100k
In your situation your are almost certainly paying vat.
On new build in the uk there is no vat and the same should apply for the a small self build QED
Your original statement made no mention of land which you have now added onto the 100k which is obviously not atainable
#46
![Default](images/icons/icon1.gif)
Any trade discounts we negotiate don't necessarily require us to order vast amounts of quantities so we should be able to do smaller sites for the same or close to the same figures.
Its swings and roundabouts really as the smaller sites generally will need less expensive infrastructure ie no adoptable roads and sewers but because of this can go for more per square foot.
You can do all the analysis you want but more often than not it comes down to a gut feeling that a certain site even with planning problems can sometimes just feel right
#47
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500 sqm for £75k is very impressive. My house was 550sqm and it was £55k plus £5k for professional fees to convert 80sqm and about £25k inc fees to add 48sqm garage (complex ground works, sloping) with 32sqm boarded attic over doing a lot of work myself, wife project managing, sourcing materials cheap and reusing what we could, although conversions aren't necessarily cheaper than new build.
#48
![Red face](images/icons/icon11.gif)
500 sqm for £75k is very impressive. My house was 550sqm and it was £55k plus £5k for professional fees to convert 80sqm and about £25k inc fees to add 48sqm garage (complex ground works, sloping) with 32sqm boarded attic over doing a lot of work myself, wife project managing, sourcing materials cheap and reusing what we could, although conversions aren't necessarily cheaper than new build.
#52
#53
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iTrader: (7)
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There's no way you can buy land and build a house for £75k unless it's in outer hebrides and there is no work in such locations so not much chance of a mass exodus and even if there were to be then prices would rise accordingly.![Lol1](images/smilies/lol1.gif)
BTL is growing because houses are expensive to buy own and maintain there's always something that needs doing, which is why the government sold **** loads in the 80's and let the private sector bare the brunt, what we're seeing now is related to that cost. Decent materials and tradesmen don't come cheap.
I think tenants should think themselves lucky they don't own the house and can just hand the keys back and walk away, god knows i've felt like doing that a few times. Home ownership isn't all it's cracked up to be sometimes, sure you get a big pot of cash back if you sell at the right time, but then you still have to live somewhere.
I don't think things have actually changed that much, houses were £3/5k when my old man was on £7 a week so £364 pa for your idea of 3 x salary they would of had to be £1k for him to be able to afford one, but they were 3 times that figure which is pretty much where they are now.
Just think back to what actually happened in the Housing market. Houses were discounted by the government to long term tenants when this mass house buying malarky started, so as such your average £30k house was in reality a £70k house all that's happened over the last 20yrs is they've settled at their true worth. The rise in house prices that occurred was the "correction" and they are back in line where they were in the 50's /60's. It was a moment in time that will never be repeated.
![Lol1](images/smilies/lol1.gif)
BTL is growing because houses are expensive to buy own and maintain there's always something that needs doing, which is why the government sold **** loads in the 80's and let the private sector bare the brunt, what we're seeing now is related to that cost. Decent materials and tradesmen don't come cheap.
I think tenants should think themselves lucky they don't own the house and can just hand the keys back and walk away, god knows i've felt like doing that a few times. Home ownership isn't all it's cracked up to be sometimes, sure you get a big pot of cash back if you sell at the right time, but then you still have to live somewhere.
I don't think things have actually changed that much, houses were £3/5k when my old man was on £7 a week so £364 pa for your idea of 3 x salary they would of had to be £1k for him to be able to afford one, but they were 3 times that figure which is pretty much where they are now.
Just think back to what actually happened in the Housing market. Houses were discounted by the government to long term tenants when this mass house buying malarky started, so as such your average £30k house was in reality a £70k house all that's happened over the last 20yrs is they've settled at their true worth. The rise in house prices that occurred was the "correction" and they are back in line where they were in the 50's /60's. It was a moment in time that will never be repeated.
Err not quite you did state the following
"As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job."
land costs excluded I know I can build a small 3bed detached for 80k so if you assume the average punter may pay 20% extra a complete new build could be done for 100k
In your situation your are almost certainly paying vat.
On new build in the uk there is no vat and the same should apply for the a small self build QED
Your original statement made no mention of land which you have now added onto the 100k which is obviously not atainable
"As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job."
land costs excluded I know I can build a small 3bed detached for 80k so if you assume the average punter may pay 20% extra a complete new build could be done for 100k
In your situation your are almost certainly paying vat.
On new build in the uk there is no vat and the same should apply for the a small self build QED
Your original statement made no mention of land which you have now added onto the 100k which is obviously not atainable
![Thumb](images/smilies/thumb.gif)
#54
Scooby Regular
iTrader: (7)
![Default](images/icons/icon1.gif)
I think they have already lost out big time, hence all the bleating.
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.![Lol1](images/smilies/lol1.gif)
@Fatscoobfella1.
As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job.
And the big killer; Plot of land with outline planning permission for less than £50k not a ******* chance.
I'm currently renovating an old farm house in Croatia and you can't build a house for £100k out here and most already own the land, so you've got no chance in England.
Ever watched the property programs? Everyone goes over budget by about 30% and they generally don't add all the little things, it costs a lot more by the time you end up sitting on your sofa sipping a cuppa in a warm house with curtians/blinds and other simple things like plates, cutlery, sheets etc. I can go on for ever but i'm sure folks will get the general idea.
That's why houses cost £200k.
![Wink](images/smilies/wink.gif)
Oh and ding; I can last about a week in London, then i've had enough, you gota admit the place is a **** hole for the most part.
![Lol1](images/smilies/lol1.gif)
![Thumb](images/smilies/thumb.gif)
I rest my case.
![Big Grin](images/smilies/biggrin.gif)
#55
Scooby Regular
iTrader: (7)
![Default](images/icons/icon1.gif)
Err not quite you did state the following
"As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job."
land costs excluded I know I can build a small 3bed detached for 80k so if you assume the average punter may pay 20% extra a complete new build could be done for 100k
In your situation your are almost certainly paying vat.
On new build in the uk there is no vat and the same should apply for the a small self build QED
Your original statement made no mention of land which you have now added onto the 100k which is obviously not atainable
"As for building a house for £100k, you might get a base 4 walls and a roof but I doubt you'll get much else, bathroom, kitchen, plastering,cabling for electricity, plumbing, tiling, floor coverings, central heating, switches & sockets, doors, windows. That list will suck the best part of £70k and that's without sundries like nails, screws, pipe clips, ducting, insulation, Architect, site manager, a gazillion phone calls and a couple hundred gallons of fuel traveling all over the place for everything related to the job."
land costs excluded I know I can build a small 3bed detached for 80k so if you assume the average punter may pay 20% extra a complete new build could be done for 100k
In your situation your are almost certainly paying vat.
On new build in the uk there is no vat and the same should apply for the a small self build QED
Your original statement made no mention of land which you have now added onto the 100k which is obviously not atainable
Yes I am paying vat but that was a choice I made based on the laws out here, because i'd rather pay vat on materials than the value of the house come sale time, 22% on £100k is better than 28% 0n £500k the way i've done it i'll only get hit for 6% and the house is in my name not a company, which also has other tax and expenditure benefits come rental time.
I understand where your coming from though, but my points were always based on a private individual building a house. Sorry if I didn't make that clear enough for you.
![Thumb](images/smilies/thumb.gif)
#56
Scooby Regular
iTrader: (6)
![Default](images/icons/icon1.gif)
May have an effect on chains falling through I suspect, but not ultimately house prices.
Our village prices have not dropped since we purchased 7 years ago. In fact, I put our house on the market last week and it was valued considerably more than we paid by all agents that priced it up! Ours has seen an 18% increase in 7 years.
#57
Scooby Regular
![Default](images/icons/icon1.gif)
stupidity
it was a semi detached around 500 square feet (NOT meters thanks john)
Build costs assumes a simple flat serviced plot ie no big long driveway and all common services in the footpath close by
I class overheads as office expenses directors and admin salaries/vehicles (ie My wages) which obviously brings in economies of scale.
it was a semi detached around 500 square feet (NOT meters thanks john)
Build costs assumes a simple flat serviced plot ie no big long driveway and all common services in the footpath close by
I class overheads as office expenses directors and admin salaries/vehicles (ie My wages) which obviously brings in economies of scale.
Thanks Matt.
So if I gave you a cleared site with all utilities already present how much would you charge ME to build a house ie per m2?
Thanks
![Smile](images/smilies/smile.gif)
#58
![Default](images/icons/icon1.gif)
I also said to Include everything as i'm talking total build cost to the point where you can move in and your sat on the sofa sipping a cuppa.
Yes I am paying vat but that was a choice I made based on the laws out here, because i'd rather pay vat on materials than the value of the house come sale time, 22% on £100k is better than 28% 0n £500k the way i've done it i'll only get hit for 6% and the house is in my name not a company, which also has other tax and expenditure benefits come rental time.
I understand where your coming from though, but my points were always based on a private individual building a house. Sorry if I didn't make that clear enough for you.![Thumb](images/smilies/thumb.gif)
Yes I am paying vat but that was a choice I made based on the laws out here, because i'd rather pay vat on materials than the value of the house come sale time, 22% on £100k is better than 28% 0n £500k the way i've done it i'll only get hit for 6% and the house is in my name not a company, which also has other tax and expenditure benefits come rental time.
I understand where your coming from though, but my points were always based on a private individual building a house. Sorry if I didn't make that clear enough for you.
![Thumb](images/smilies/thumb.gif)
Wise choice on the vat
![Thumb](images/smilies/thumb.gif)
think we've got there
#59
![Default](images/icons/icon1.gif)
As such we are specifically set up as a kind of production line
would have to be very careful and make sure every possible specification and design detail is correct and agreed on, a reasonable time line, stage payments no economies of scale ????? can only stab at it with a finger in the air at about 150-160/sqft
#60
Scooby Regular
![Default](images/icons/icon1.gif)
Now there's a question never ever contracted out only ever built on spec.
such we are specifically set up as a kind of production lineAs
would have to be very careful and make sure every possible specification and design detail is correct and agreed on, a reasonable time line, stage payments no economies of scale ????? can only stab at it with a finger in the air at about 150-160/sqft
such we are specifically set up as a kind of production lineAs
would have to be very careful and make sure every possible specification and design detail is correct and agreed on, a reasonable time line, stage payments no economies of scale ????? can only stab at it with a finger in the air at about 150-160/sqft
Could you please explain what that means?
Your £75k for a 1000sqft house equates to £75/sqft.
My question was really what should a builder charge me such that he still makes an acceptable profit?
Thanks again and sorry if my question is vague