john banks

Surely depends on your spec, cost of labour in your location, VAT, whether you're paying for the boss's Range Rover etc.

SouthWalesSam

iTrader: (1)

So tell me, when was this golden age I keep hearing of when most kids could easily first time buy their way into property ownership?

Maybe it was so long ago or perhaps it was just a fable and I should have asked:

Pray tell, when ‘twas wondrous gilded eon had, when callow youth and unsullied virgin, with neither husbandry nor heft, didst landed gentry so easily become?

__________________________________________________ _______________
Happy Birthday and apologies to The Bard

paulr

It's a mixed market. Round here ( Lincolnshire) I know so many people still jumping on the buy to let, I can't see prices falling. Unless someone decides to change the taxation of second properties. London is a different story.

Dingdongler

1) Spec. Yes I could of course fit a Smallbone kitchen etc however I'm talking standard contract kitchen, bathrooms etc

2) Cost of labour in my location. Yes it does, but I just want to know what it costs in Matt's area and then can make assumptions from there.

3) VAT. No VAT on new builds

4) Paying for the boss's Range Rover. I did mention that the builder should be able to make an acceptable profit ie make a living but NOT take the p1ss.

I've been quoted new build costs by my regular builder but am interested to see if it can be done competently at a cheaper price.

I'd really like to do a new build in the near future

hodgy0_2

1996

paulr

Sounds about right. Any time when there were no tuition fees, no large deposits required, and reasonable house prices.

SouthWalesSam

iTrader: (1)

... and the engine of the British economic recovery.


... and the biggest contributors to UK creativity, wealth and tax revenues.

Dingdongler

Really??

I thought it was all centered around Fatscoobfella's village and conservation area

SouthWalesSam

iTrader: (1)

1996??

So the property owning Utopia you're all craving for and whining that we need to get back to, lasted all of one year?

Or was that how long before you were forced to sell up from the Cloud Cuckoo Land you presumably lived in?

paulr

http://www.bbc.co.uk/news/uk-politics-27225421

Labour want to introduce rent controls.

hodgy0_2

Lol, you asked, I gave you a year, - i will widen it if you like

From the 80, to the mid to later 90's perfectly possible to buy a property in London on an averish salary

I know I bought several

I bought within 3 miles where I was born, several times in the 80,s and 90

Now impossible - even with a wage approaching six figures

fatscoobfella1

iTrader: (1)

Dont try and tell me house prices are expensive near you...

You could buy most of south Wales for the price of a flat darn the smoke..

fatscoobfella1

iTrader: (1)

I think you crave a bit of greenery and fresh air...

When you get a few years under your belt you will be able to afford it.. Gives you something to aim for.

hodgy0_2

Also, I rent several properties in central London - the same ones I bought in the 90,s

They are all rented to young professionals - they have as much chance of affording to buy the house I rent them than winning the lottery

fatscoobfella1

iTrader: (1)

^^^^^^^^

I wonder why they do it then ?

Working all the hours to rinse rent money down the drain for the rest of your days doesnt sound that sensible

hodgy0_2

Tell me s w s - what do you think my capital growth has been in the last 4 years on those properties

hodgy0_2

Because London is one of the worlds great cities

I was drinking in Camden last Friday, and you simply can't beat the buzz

Although glad to get back to the country estate in cambs for the weekend

fatscoobfella1

iTrader: (1)

Hmmmmm,

I guess we will differ on that...

But having a great social life is a daft thing to base your ok/home situation on..

paulr

100%.

hodgy0_2

Which is why I moved my family to Cambridge, London is a young person game


Unless you income is in the region of 4 to 5 hundred k

fatscoobfella1

iTrader: (1)

A sensible man....

More sensible than your young professional renters....lol..

mattstant

Im trying to say i cant really answer your question as i am a speculative builder and rely on the profit margin being the difference between land and build costs and whatever someone is willing to pay for the the house i have just built and then reinvest that money in another project.
the closest i get to having a client is my bank manager lol

As a contractor you have to be extra careful absolutley everything has been costed and make sure your margin is protected on any extras and alterations which are inevitable.
ground conditions for instance can vary greatly and foundations can be either 4 foot deep or 14 or worse !! its just a risk you take as a spec builder
As a contractor you have to cost every 6 inches at different rates the deeper it gets.

minor changes (in the opinion of the client) can throw up all sorts of exponentional problems involving different trades who are no longer available as they have moved onto another job stretching out the contract etc etc.

to give a fixed price to a client you have to basically think of every potential problem from weather to strike action.
I dont have nearly enough experience in contracting to give you an accurate answer sorry

bighead

iTrader: (1)

house price will never crash ........as the demand is huge because we are on a very very small island !!

you should see what you get with £200K in Hong Kong or Tokyo !

hodgy0_2

They have little choice

And that is the whole point

hodgy0_2

Proved by the fact that one tenant has been renting from me - unbroken for 15 years

She has single headedly paid of a mortgage for me - bless

fatscoobfella1

iTrader: (1)

Of course they have a choice...

Relocate..

As a young professional they can make the money they earn work better for them in a different part of the UK,surely better than being trendy but skint..

fatscoobfella1

iTrader: (1)

Rented for 15 years...

Very dumb!

hodgy0_2

Yeah, sure in that sense they do

But such is the gravitational pull (financial, cultural etc) of having one of the worlds great cities omnipresent, and in close geographical reach to a lot of the uk population - it tends to distort things

ditchmyster

iTrader: (7)

Oooh, ooooooh, can I answer this one? I'm quite good at maths.

In short it will cost you at least double what he was saying he could do it for.

Oh yeah, and then you have to provide the plot of land.

ditchmyster

iTrader: (7)

Capitalist.

Got any spare change Mr?