Thoughts on Sites

dragondog

Hi

I am currently looking at 2 sites and need assistance on where I should proceed.
Site A is €15,000 and comes with no planning permission. I have been the highest bidder on this site since September but waiting on the receivers to sort out their end

Site B is €75,000, comes with full planning permission for a 3000 Sq. Metre house(with plans I like), has full access to services (water, electricity, broadband) and work could commence on that in the morning.

What I am getting at is - with Site A - there would be costs for obtaining planning, getting services to the site and the prospect of not getting planning
With Site B - it is good to go but at a much bigger price tag

I would be interested in people's opinions on this and which they would go for if the funds were not an issue

drunkmonkey

All things being equal the one closer to the pub, shops, school. If you can't walk to a shop or pub from the 75k one it's way to much.
If both are way out and require a drive everywhere I'd reassess both.

If your not in a rush plan A but someone local should be able to give you a decent opinion on the odds of it getting planning, seems a bit cheap at 15 if planning was a possibility.

Graham

My thoughts,

site A isn't a site, it's a field. Is there any suggestion anywhere that it's likely to get planning? Would you be happy to spend the next few years waiting to find out?

dragondog

drunkmonkey wrote: »

All things being equal the one closer to the pub, shops, school. If you can't walk to a shop or pub from the 75k one it's way to much.
If both are way out and require a drive everywhere I'd reassess both.

If your not in a rush plan A but someone local should be able to give you a decent opinion on the odds of it getting planning, seems a bit cheap at 15 if planning was a possibility.

Haa very valid points - you would have to drive for both as they are in the country
Site A is in a decent area but Site B has nice Sea views
Yeah it does seem cheap alright and it is taking a long time to close out to be honest

dragondog

Graham wrote: »

My thoughts,

site A isn't a site, it's a field. Is there any suggestion anywhere that it's likely to get planning? Would you be happy to spend the next few years waiting to find out?

Very valid point
The field had planning that expired in 2007.
I have been looking the past year and I am getting to the point where I just want to get going at it now

Graham

Was the previous planning for site A based on local needs, do you meet the criteria? Have you had a chat with the LA to see what their current thinking is on the site?

See views + planning + ready to go, I wouldn't have to think about if for too long to be honest.

Gumbo

Also, have you checked the site with Planning that there are no crazy conditions such as local needs etc

Also, don’t forget about council contributions (which would applicable to both sites anyway).

mickdw

dragondog wrote: »

Very valid point
The field had planning that expired in 2007.
I have been looking the past year and I am getting to the point where I just want to get going at it now

If ypu like site A, agree to buy subject to outline planning being granted. That way you are taking no risk and seller can be happy that its not some over the top mansion that you are trying to obtain planning for - there is no house design required for outline permission.
How big is site A - beware that the site size requirement may have changed since it was previously granted planning. Many other requirements may have changed also so only buy subjext to planning.

dragondog

Graham wrote: »

Was the previous planning for site A based on local needs, do you meet the criteria? Have you had a chat with the LA to see what their current thinking is on the site?

See views + planning + ready to go, I wouldn't have to think about if for too long to be honest.

I would meet the needs yes based on the original planning.
I was chatting to a member in the LA and they not envisage any problems to be fair.

dragondog

kceire wrote: »

Also, have you checked the site with Planning that there are no crazy conditions such as local needs etc

Also, don’t forget about council contributions (which would applicable to both sites anyway).

Thank you - I checked this and for Site B - all council contributions are already paid in full

BryanF

300m2 sea view .. do you have the budget to build to current regs AND make it comfortable /easy to heat

Lumen

The downside of views can be extreme exposure to wind. May be fine for inside the house with good modern construction but can make enjoying the garden more difficult. A breeze on a sheltered site can be a gale on an exposed one.

dragondog

Further question on this.
Site I want is 75,000 - current savings is 80,000

What would folks do in this case in order to but the site and get the mortgage
I know the site will go towards the mortgage deposit but there will be architect fees, planning costs, solicitor costs etc prior to getting the mortgage

What would folks do in this situation?

mickdw

dragondog wrote: »

Further question on this.
Site I want is 75,000 - current savings is 80,000

What would folks do in this case in order to but the site and get the mortgage
I know the site will go towards the mortgage deposit but there will be architect fees, planning costs, solicitor costs etc prior to getting the mortgage

What would folks do in this situation?

Id retain all that cash until full mortgage approval was in place and 100 percent ready to be drawn down. Use some then for professional fees etc and then buy the site whatever way the bank sees fit.

dragondog

mickdw wrote: »

Id retain all that cash until full mortgage approval was in place and 100 percent ready to be drawn down. Use some then for professional fees etc and then buy the site whatever way the bank sees fit.

I was told I needed to own the site before the mortgage would be given out.

mickdw

dragondog wrote: »

I was told I needed to own the site before the mortgage would be given out.

Banks differ. Id just be afraid of some other bank official querying your deposit after just clearing your account to buy the site.

dragondog

mickdw wrote: »

Banks differ. Id just be afraid of some other bank official querying your deposit after just clearing your account to buy the site.

yeah that would be my fear too now also - hence I am reluctant to throw all my savings at it.
In an ideal world - it would be great to use half the money from my savings for the site and get a long term loan or something. Then when house is built or mortgage approved - combine the loan into the mortgage

mickdw

Well can you go for mortgage approval then sit down and work through the best way forward with the bank.

dragondog

mickdw wrote: »

Well can you go for mortgage approval then sit down and work through the best way forward with the bank.

I was told I needed to own the site before going for mortgage approval

dubrov

dragondog wrote: »

I was told I needed to own the site before going for mortgage approval

You don't need to own the site but you will need detailed costings of the build.

dragondog

I was successful in my bid for the €15,000 site and just going through the legal mumbo jumbo now

That 60,000 grand difference will cover a few architect, solictor and council bills - might also buy me a few blocks
Cheers for the advice guys - view would be nice - but where I am buying is literally a 5 minute drive away so I can manage

mickdw

Have you bought this as is without planning or
Subject to planning.

dragondog

mickdw wrote: »

Have you bought this as is without planning or
Subject to planning.

Its without planning. The site had planning previously that has expired. Its a receiver sale ao got very little info. Had a planner check it out and they foresee no real issues

dragondog

Site is nearly there - signing the contracts on Saturday - the fun starts then

sarahf2k16

dragondog wrote: »

Site is nearly there - signing the contracts on Saturday - the fun starts then

Congrats! Sounds like a bargain, hope it works out well for you! Would love an update to know how it all works out!