I've got a property Development itch

[New POD]

Okay, The first link is a house in our cul-de-sac, almost identical to ours, except that we have a loft conversion which is 4 meters square, and our master bedroom, has lost 2.5 foot from it's length for the stairs. The cost today of a similar peice of work would add £20K to the price, so I figure ours would be worth a smidge Over £180K. Problem would be the shared driveway, tiny kitchen, and tiny garden. Plus loads of 3 beds in the range of £160K to £200K in the area. Likelihood of a sale? I'd be pessimistic.

http://www.rightmove.co.uk/property-for-sale/prope...

This is about 3/4 mile away. The words RIPE spring to mind. Needs £££££'s spending on it.

http://www.rightmove.co.uk/property-for-sale/prope...

I've now got an itch.

Someone get me into a Mental Health Ward.

[vescaegg]

I take it you haven't done any of this before? And you want to take on a rather large grade 2 listed property?

I assume you have a lot of cash in the bank?

I applaud the size of your balls

[New POD]

I think the wife will not be happy. What level of investigation should I make before "asking permission" ?

Her dream house has 3 beds and a VERY big kitchen, mine has a triple garage. I see potential for both.

[vescaegg]

Thoroughly review the planning application and approvals first would be my advice. Then if you really want to proceed work out some sort of build cost / budget and go from there.

Will you need finance or do you have a couple of hundred grand sitting in the bank?

Don't set your heart on it either. There may be a few more around with more potential which you may not have seen. Look around thoroughly.

[New POD]

Ah, finance. Just paid off mortgage, got access to about £60K, work freelance, but have been told I could borrow a st load more than I'd ever be happy borrowing, based on my daily rate.

[Little Lofty]

How much would the second house be worth when finished? I could see that costing £400k to buy and develop.
Grade 2 listed = big headaches!

[New POD]

Little Lofty said:

How much would the second house be worth when finished? I could see that costing £400k to buy and develop.
Grade 2 listed = big headaches!

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE%5E1371&minPrice=400000&maxPrice=600000&minBedrooms=3&numberOfPropertiesPerPage=50&viewType=LIST

Assuming you are even half right and it cost only half your estimate, I'm out.

Look what could you get in this area for £400K to £600K

There's a lot of competition.