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How to get into new build?

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  • How to get into new build?

    Hi,

    I am a roofer and have friends/colleagues of all different trades. I have renovated a few properties in my spare time and learned a huge amount along the way. Although I enjoy it and seem to be making good profits at the moment, ideally I would like to get into new builds.

    I have SO many questions but I'll start with the following:

    1) Does it differ a whole lot from renovating? and how?

    2) What is the process for valuing a project? From researching plots, planning, build costs and resale values, but also things I will not have learnt yet (though renovating) like anticipating ground work costs etc? etc?

    I'll start with asking the above, thanks in advance!

  • #2
    Re: How to get into new build?

    As per my knowledge, renovating is just like altering an existing structure, there may or may not be much construction needed on the base level. You are just modifying the existing structure to give it a new look, while for construction you have to begin from the base that is completely different and more complicated.


    Besides researching plots, planning, build costs and resale values, there you need to consider the kind of structure that is to be raised. It the building just confined to ground floor or it is going to take on multiple storeys. Apart from that there are some legal formalities like planning permission and party wall conveyance that are to be taken into consideration. All these things must be counted in project valuation.
    Guaranteed Rent Scheme |Estate agents Canary Wharf

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    • #3
      Re: How to get into new build?

      Hi

      Just say you have a plot of land and you want to build a house on it, but before you start your project you must first work out How much the build is going to cost you, and what the resale value will be once it's built. To find out the resale value you check sites like zoopla, rightmove and see how much houses or flats similar to your new build is selling at. If the value of homes is higher than your new build cost by say 25-30% than it's worth going a head.

      To work out an accurate cost of a project I will first hire an architect to draw up some outline designs and then hire a Quantity Surveyor
      (I'm one ) he will be able to advise you on construction costs and other commercial aspect of a project.

      Have a look here some great advice.

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      • #4
        Re: How to get into new build?

        Imagine you're a salesman trying to sell a brand new car to a group in which only one in every four potential buyers even consider what you offer. Add to that a shortage of loans to buy the car, and an even shorter supply of attractive models. Even a car salesman would find that a tough sell. The same way you choose and think towards himself.

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        • #5
          Re: How to get into new build?

          Originally posted by qu1ksilver View Post
          Hi,

          I am a roofer and have friends/colleagues of all different trades. I have renovated a few properties in my spare time and learned a huge amount along the way. Although I enjoy it and seem to be making good profits at the moment, ideally I would like to get into new builds.

          I have SO many questions but I'll start with the following:

          1) Does it differ a whole lot from renovating? and how?

          2) What is the process for valuing a project? From researching plots, planning, build costs and resale values, but also things I will not have learnt yet (though renovating) like anticipating ground work costs etc? etc?

          I'll start with asking the above, thanks in advance!
          You appear to have very little knowledge and given the large financial outlay involved, one mistake could ruin you for life.

          Myadvice is stick to what you know.
          Even if you can buy land at the right price (Max 30% of sale price of the fininshed house), and finance the build, even then, forces outside your direct control could mean you still lose everything for example the 2008 financial crisis.

          The big money is buying land, getting planning permission selling it on as building plots at big money to naive self-builders.

          Even Persimmon only make an operating profit of 13% Barratt only manage 8%!
          BRAND NEW HOMES
          Information for UK new home buyers
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