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A Guide To Securing The Purchase Of A Plot

A Guide To Securing The Purchase Of A Plot

One of the biggest challenges you’ll need to overcome before you get can stuck into building your dream home is to secure the purchase of a plot of land. The problem is that competition can be fierce and the best building plots can be hard to find. However, if you’re flexible, keep an open mind and do your research, you’ll push yourself to the front of the pack. To help you on your way, here’s our guide to securing the purchase of a plot:

 

  1. Define your requirements and set your budget

A key reason people end up taking a lot longer than they thought they would to find a plot is an unwillingness to compromise. A good place to start is by making a list of your ‘must-haves’ and ‘nice-to-haves,’ as well as ensuring you’re realistic about matching your desired build style to the location. This will help to widen your choice of plots.

A realistic budget is also essential – the plot may be the biggest single purchase you make in your self-build adventure, but it certainly won’t be the only one. Look for the potential in a site rather than for perfection.

 

  1. Understand the main types of plot

The main types of self-build plot include:

Brownfield land. Previously developed land which tends to be relatively affordable and looked on favourably by local councils. You’ll need to apply for a change of use and be aware of any design restrictions.

Greenfield land. Land that hasn’t been previously developed, such as open countryside. Be aware that the opportunity to build from scratch on protected green-belt is rare; however, you may be able to build an extension or invest in a buy-to-demolish scheme.

Buy to demolish. This is a popular option as you’re less likely to encounter hidden costs by knocking everything down and starting again. While demolition fees are high, it’s often cheaper than renovating.

 

  1. Use a variety of channels to search

Cast your net wide to find your perfect plot. A specialist land or estate agent is a good place to start, as well as looking on sites such as plotfinder.net and checking with your local Solicitors Property Centre and community trusts in the area. Property auctions and local agents can also present opportunities, but call or drop in regularly to ensure you stay at the forefront of their minds. Alternatively, why not try visiting the areas you’re interested in and spreading the word that you’re looking to buy? Word of mouth can work wonders and you might discover a local private developer willing to sell you a plot.

 

  1. Scout out the site

Before you buy a plot of land, ensure it has planning permission with your local council and check that it covers you for the design of house you have in mind. Plots without planning permission could be cheaper – but ask the land owner to agree to an offer that’s subject to you getting planning permission, just in case your application is rejected. You’ll also need a site appraisal to ensure there are no hidden problems with the land such as contamination, flood risks or issues with electricity, water, drainage or gas.

Things can change fast in the property development world so make sure your legal information is bang up to date before you get going. Once you’ve secured the perfect plot, Bespoke can work with you to bring your dream home to life. Give us a call to find out how we can help.