160k house build

kingcharles82

Just wondering how far 160k will bring me in a house build, house is approx 2000 sq ft? Plan is to use 60k savings and 100k credit union loan and in a few years top up loan and finish what need to be finished. House will be a standard enough dormer with a plan to finish upstairs in a few years. I'll take all advise on board just curious on people's thoughts, house will be in west of ireland mayo and build on family land, hopefully local builders, maybe air to water heat system but open to using gas or oil systems also if cost becomes and issue. Good insulation and as air tight as possible is the plan.

rayjdav

Out of that 160k does that allow for professional fees/LA contributions/site cost/treatment system to start with. That will put a nice chunk of that to bed for you, very conservative estimate 12-15k excl. site cost... 135k estimate build budget, 2000sqft to current regs, unlikely imho.

Aravo

I would advise on getting a QS to cost your build to your requirements. Approx. €200, money well spent.

Samuri Suicide

Being built on family land so no site cost...

OP have you considered strawbale construction? Strawworks.co.uk have built several houses in the UK and Ireland. Worth checking out.

anthony500_1

Have you planning got??? I was like yourself thought I'd build a 2000 sq ft house of simple construction. Planners told me different and I'm now building a very fancy 2800sqft house due to planners restrictions and requirements to there liking. House has to be of A3 or better energy rating. So it's an expensive route initially but will hopefully pay for itself in the long run. The airtight products and air 2 water heating systems are expensive. Do as others have said get a Qs to price it up. At least it's a accurateish guid to build cost

kingcharles82

Just waiting on getting planning, application should be finalised in a few weeks, I was just wondering where 160k would get us, would we have it sealed and a number of rooms finished with more to complete over time.
The 160k does not include paying for site or fees attached

anthony500_1 wrote: »

Have you planning got??? I was like yourself thought I'd build a 2000 sq ft house of simple construction. Planners told me different and I'm now building a very fancy 2800sqft house due to planners restrictions and requirements to there liking. House has to be of A3 or better energy rating. So it's an expensive route initially but will hopefully pay for itself in the long run. The airtight products and air 2 water heating systems are expensive. Do as others have said get a Qs to price it up. At least it's a accurateish guid to build cost

kingcharles82

Not stating we would complete it for that figure just wondering would it get us far? Many thanks for your reply

rayjdav wrote: »

Out of that 160k does that allow for professional fees/LA contributions/site cost/treatment system to start with. That will put a nice chunk of that to bed for you, very conservative estimate 12-15k excl. site cost... 135k estimate build budget, 2000sqft to current regs, unlikely imho.

Aravo

kingcharles82 wrote:

Just waiting on getting planning, application should be finalised in a few weeks,

OP in a few weeks you may get the dreaded RFI request for further info. Very common. Be prepared, nothing straightforward in planning.

dubrov

Why bother building half a house you can't use?
You'll be paying a mortgage the moment you draw down on the credit union loan.

Better to spend the time now on designing the house and only start the build when enough funds are available to make it livable.

db

Is this a regular loan or a mortgage you are getting from the credit union? if it is a regular loan you will be paying up to 10% interest and they will want you to pay it back in about 5 years so repayments will be massive. Also, they usually want you to keep a large amount of savings in the credit union to cover the loan. Can you not try to get a mortgage to cover the full cost of the build now?

Johngoose

I’m not being smart but would you not buy a cheap 2nd hand house in your area in Mayo? Presumably rural Mayo is cheap to buy houses in? You could then upgrade the 2nd hand House?

fits

Buying would definitely be cheaper. 160k won’t get you far at all. It might get a roof on it not much further with the extra non build costs. Even your site transfer and stamp duty will be a couple of grand.

kingcharles82

Ya that is also an option but already have site in our name and planning applied for so we are just weighing up options right now.

Johngoose wrote: »

I’m not being smart but would you not buy a cheap 2nd hand house in your area in Mayo? Presumably rural Mayo is cheap to buy houses in? You could then upgrade the 2nd hand House?

kingcharles82

The mortgage route will be looked at for sure and hopefully that will be the road we go down. I was just wondering how far 160k will get us when building our house. If it was a credit union loan it will be a regular home Improvement loan if they would allow this and I don't think interest will be as high then

db wrote: »

Is this a regular loan or a mortgage you are getting from the credit union? if it is a regular loan you will be paying up to 10% interest and they will want you to pay it back in about 5 years so repayments will be massive. Also, they usually want you to keep a large amount of savings in the credit union to cover the loan. Can you not try to get a mortgage to cover the full cost of the build now?

893bet

anthony500_1 wrote: »

Have you planning got??? I was like yourself thought I'd build a 2000 sq ft house of simple construction. Planners told me different and I'm now building a very fancy 2800sqft house due to planners restrictions and requirements to there liking. House has to be of A3 or better energy rating. So it's an expensive route initially but will hopefully pay for itself in the long run. The airtight products and air 2 water heating systems are expensive. Do as others have said get a Qs to price it up. At least it's a accurateish guid to build cost

Planners made you add on 800 sq feet.

Must be new requirements...

marie15

Credit union loans around 11% check out if you.might qualify for the County Council building Ireland loan approx 2% and you be allowed to borrow over longer period so repayments be easier manage. Or try banks too depending on your circumstances.

U probably need to talk to a QS or an Architect or Engineer about your budget and how far it will go. I am none of the above but from starting on Self Build journey I don't think you can get 2000 sqf built for the.budget u have now.

anthony500_1

893bet wrote:

Planners made you add on 800 sq feet.

893bet wrote:

Must be new requirements...

It's not that they made us add on, but the shape of the house has a lot of wasted space due to max Gable with of 7m, we had initially went for a square style 2 story, simple in design and construction, buy the time they would give us planning we now have a " +" shaped story and a half house if you were to look down on it from the sky, max wall lenght anywhere outside is 7m. They wouldn't even allow a small pitched roof over the front door, it has to be a flat roof that we all know will be leaking in 5 yrs time.

They pretty much dictated the house we are building. I wouldn't be a massive fan of the look of the house but I can't do anything about it

Gumbo

anthony500_1 wrote: »

It's not that they made us add on, but the shape of the house has a lot of wasted space due to max Gable with of 7m, we had initially went for a square style 2 story, simple in design and construction, buy the time they would give us planning we now have a " +" shaped story and a half house if you were to look down on it from the sky, max wall lenght anywhere outside is 7m. They wouldn't even allow a small pitched roof over the front door, it has to be a flat roof that we all know will be leaking in 5 yrs time.

They pretty much dictated the house we are building. I wouldn't be a massive fan of the look of the house but I can't do anything about it

Flat roof shouldn’t leak if done properly.

anthony500_1

kceire wrote:

Flat roof shouldn’t leak if done properly.

100% agree but they always do.