Buying site to build, need advice

Updated.... what you think?

 
that add sounds ok to me anyway,

i am very interested to hear what the local authority have to say about selling you cheap land , i didnt know they would do that , i taught you would need to be unemployed and have a few kids or something to qualifly for that, i would be grateful if you could let me know how that goes for you,
 


Fingal CO CO have no land available, Meath CO CO do, but its all in kells, dunno what the criteria is, they are sending out app forms tomorrow to us, will update you then!
 
i am not a specialist in this area as i deal with overseas but take a look at a company called build store you can find them on the net. They are the leaders in self build in the UK and ireland they will be able to give you advice on funding. Funding a self build is different to a normal mortgage funds are released at verious stages of your build rather than a lump sum. It reduces the risk to the lender. hope this helps.
 
Hi guys,

Myself and my partner are starting to panic, house prices in our area are skyrocketing and were hanging in waiting to buy land, but no1 locally is curerntly selling.

If we decided to go ahead and buy a house for now, obviously theres a good chance that it would be worth more in 6 months to a years time, but how soon after purchasing a house (we are first time buyers) can you sell it?

Do you think it would be wise to go ahead and get a mortgage now and then sell up when land is available or to wait a bit longer to see if some land becomes available??

were keen on building our own dream home but dont want to end up maybe getting burned by spiralling property prices by not investing soon....
 
ICS are good for mortgages for self build. They generally allow a 6 month no payments period. They will give up to 90%.

EBS are also good. They will allow 12 months interest only period and also give up to 90%.

As building your home can take some time, and you also have to live somewhere else - one of these options may be favourable.

If you already have a house and are looking to keep it as an investment ICS are not too keen on this - but you can always try it.
 
no we dont have a home yet, were looking to buy one very soon though. Thats why im wondering whould we bite the bullet, buy a house and hold onto it, possibly getting a return when we sell it on in 6 months to a year to purchase land and build a house??? Or should we bide our time, possibly with all the SSIAs coming out putting house prices into orbit? We dont have SSIA's ourselves...
 
Hi Maxjam, be sure to do plenty of research before taking such a big step. If you have your heart set on building be sure to check the planning regs in your area - you may have to fulfill a "housing need" and so if you already have a house this might not be looked upon favourably. Also consider your FTB status.
 
dont panic,if you buy to sell that quick i would say you would be lucky to break even again, even if the house you buy goes up by lets say 30k . by the time you sell it again and you have capital gains payed on the 30k(iam not sure if you will have to pay this if you live in it so maybe some1 on this site can confirm this) and auctioneer payed and legal fee payed what you will be left with will be very small, ............. however if you do buy a house for now(in a housing estate or whatever) at least you will have a house to be happy with for a while and maybe in 3 or 4 years then keep an eye out for a site again, .......... THATS JUST WHAT I THINK ANYWAY
 
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Everywhere is selling "local needs only"... whats the story with that, you must be from within a 4Km radius to apply? Bah, stupid rule. Half of the places weve looked at have been empty since the famine... The last people to live here helped build newgrange and yet... not a hope of getting PP.

If my father was originally from an area but moved out 30 years ago, could he apply in that area under the local needs only clause?

Do planning authorities ever make any consideration if you're NOT from an area?

I contacted the county council, they have sites available but they are way out of our local area, the commute would be a nightmare. OverPricedTerracedHellsVille is looming on the horizon...

ohno

OH NO

OH NOOOOOOOOOOooooooooooooo.... !

There has GOT to be a solution....

im putting my "begging for land" posters up this week.
 
We have located a property on a 1\2 acre, its quite a small bungalow, the agent is looking in the region of 250K but I reckon we’d bargain it down to the 220’s 230’s as it needs work and has had a sale fall through at 235K late last year.
 
We have located a property on a 1\2 acre, its quite a small bungalow, the agent is looking in the region of 250K but I reckon we’d bargain it down to the 220’s 230’s as it needs work and has had a sale fall through at 235K late last year.

Anyone ever undertook something like this?

Theyre looking for quick sale which worries me a bit, but with a building on half acre, we think that maybe the problem of getting future planning permission is diminished, would that be a correct assumption to make??

I will need it surveyed by an engineer/architect and will need to see if i can submit any plans to change it.

We are First Time Buyers and have about 25,000 deposit, if we can get plans and submit them were wondering would we have problems seeking to get mortgage for just over 300,000 with intention to buy the property and use the remaining 70 to 80,000 for extending/renovating?

Here are our intentions....

Were ideally looking to extend the existing building, refurbish the existing interior and incorporate a dormer roof over the entire building.

Foundations would only required for the extension itself, sewerage, water and electricity are already in place so that saves a packet, the driveway is in already too.

Surely 80,000 - 100,000 would be plenty to do this if starting with an existing building? Were looking at a wooden frame extension, probably 2 rooms on the ground floor, I assume that the roof, and putting in new windows, refurbishing interiors, and the dormer rooms would be the major expense, im probably completely wrong here thinking i would have enough in that budget, so as ever, your advice is appreciated.
 
You say it needs work and they are trying to get a quick sale...

If they are pushing a quick sale and its been on the market a while, it may be that you could try and negotiate a price which is a good deal less than €230,000.

I wonder how much work is required? Have you viewed the property yet?

It may be that the building will need to be razed in order to build a new design, it could be difficult to incorporate a dormer roof on an existing property, but im not an engineer, so you will need more advice here.
 
No, havent viewed the property yet.

The EA told me it was up for 250 in nov, they got bid of 235 but sale fell through, no more interest since. She said they (the owners) really want to sell it off it fast.

Im just wondering would i have enough in 80,000 - 100,000 to do the whole place up if an engineer/architect suggests our plans would suit the existing building...

I dont even know where to begin with getting the site checked out!!
 
Im hoping some of the self builders here may be able to answer the following....

how do i go about getting the plans made to submit to the local authority to apply for planning permission?

Will it be expensive?

Whats involved?
 
Maxjam:-
Are you knocking the existing house and starting from scratch or are you putting on an extension to the existing house? If you're starting from scratch you could check out the house plan books in Easons and buy the plans direct or check out this great website...

http://www.irish-house-plans.ie/

They have modern house types - bungalow, dormer, two storey and have them classified in types or bedrooms. Typical cost about €400-€500.

Alternatively you could contact an Architect - be sure to get someone who is registered with RIAI (http://www.riai.ie/) Will be more expensive than buying the ready made plans but you will get exactly what you want.

Enjoy!
 
Heres one for you....

Is there a difference if a site for sale is one of the following:

Site for Sale, subject to Planning Permission Of Special Interest to Local Applicants.

And

Site for Sale, Subject to planning permission, Local needs only
 
maxjam,

Be very careful. With the price of sites in the area you are talking about and the issues with local needs, the existing building is more-than-likely not worth a whole lot. 100k WILL NOT go far in renovating an old building - a project like that can literally eat money and can cost as much as building from scratch due to the nature of the work..

There are plenty of people moving from Dublin and surrounds who are looking for a site on which to build but are blocked by local needs. I think the sale of an old farmhouse/shed as a 'residential' property may be a way of bypassing local needs issues (I could be wrong).

A site close to me recently went on the market for 170,000. Was talking to a guy from Dublin who said he'd have no problem paying the price if he had the money.

Not sure how strongly enforced the local needs rule are by the way judging by the 'locals' who have recently bought sites and built in our particluar area.

Have you checked any of the local papers for sites? If you were willing to move a bit further North (Cavan area for example), I know that there are a lot of sites available around there at far more realistic prices..

Anyway, best of luck and let me know how you get on.....
 
were still looking at sites, but now were begining to get cold feet and are thinking of buying a house and in 2 or 3 yrs with some savings we'll buy land and build.

If i fill in application and send it back to PTSB but currently there are car repayments on it, will they look at this and because i will have car cleared in a month, give me a higher mortgage approval? unfortunately my car payments are on most recent bank statement and we need approval in principal soonest so we can find either a house or the land.

We still arent sure how much we can borrow...
 
maxjam,

Was just speaking to someone from Meath County Council and they were telling me that they now hold Pre-Planning clinics- basically an opportunity for people looking to build in the area to meet with the planners...

Next round of clinics are on over April. I have the ad that was placed in the Meath Chronicle (should be repeated). PM me and I can email you a copy...
 
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