ad

Is it possible to buy a small freehold plot of land up to about £25,000 in UK?

L

london8

New Member
.
Hello,

I have no knowledge about the property market. I just want to buy a small plot of a land to build a small one-bedroom-house.


I have two questions:


1) Is it possible to buy a small freehold plot of land up to about £25,000 in UK, with or without planning permission?


2) I am searching on internet. Sometimes I find something cheap, exactly what I am looking for (£10,000 - £25,000). But I am worried, the prices which they say, could be for an auction which means the final price will be much more higher, even though they do not say whether the price is for an auction or for a direct sale. I could put here some concrete links of examples but the system does not allow me to do so. What you think, the prices are about an auction or for a direct sale? Many thanks.
 
Last edited:
L

Longterminvestor

Administrator
Unfortunately, this is fairly unlikely. As a rule of thumb the value of a plot of land should equate to around 45% of the market value of the property. So, with a plot of land valued at £25,000 this would equate to a property value of around £55,000. Unlikely the current UK property market?
 
L

london8

New Member
So, they must be liars. On internet, you can find many advertisements where they offer a small freehold plot of land for only up to about £25,000 in UK.
 
J

Jessica Harrison

New Member
Buying freehold land does not guarantee planning will be granted for a house so you could end up buying then spending money on architects only to find planning is declined and then you will likely struggle to sell the plot.
 
D

diyhelp

Active Member
Some people go down the route of buying property which has an old house/building and simply rebuilding on that land. Maybe worth looking at?
 
D

diyhelp

Active Member
I spotted this elsewhere on the Internet, do the figures still stand?

"Current house costs are running at between £900 and £1,100 per square metre for a standard specification plus £12,000 per house for drains, paths etc. You should also add about £8 per cubic metre for the demolition of your bungalow."
 
P

PostBrexitInvestor

Member
There are couple of benefits for those looking to knock down derelict houses and rebuild:-

- There should already be mains electric/water, etc
- There is the opportunity to build a "dream property"

If I was in that situation this would be a very attractive proposition. However, you will always need to budget for "unknown" costs.
 
Top