Surrey was recently cited as being one of the top 20 commuter places to turn a profit on a self-build. The research compiled by the developer Searchfield Homes, stated that people in these commutable areas, including Harpenden in Hertfordshire and Esher and Woodbridge could possibly receive a return on up to 40% profit on a self-build investment. However in order to do so, you will need at least 2 million pounds to invest in the project to benefit from this type of return
Areas in Surrey where there could be a good return is Leatherhead, giving a possible 30.65% return and Reigate with 31.55%. However, in these built up areas it is likely that you would need to purchase an old house, demolish it and then build one that is twice the size. The developer stated that 1930’s houses were perfect for these types of self-builds as they are normally situated on large plots. One of their other tips on how to make a profit is to put in a building application for the largest possible home.
Andrew Searchfield, managing director of Searchfield Homes, told the Daily Mail: 'If the project is loss making, it will be impossible to secure finance without a substantial injection of equity.'
He continued: 'With a rebuild being the most realistic option for self builders wanting to live around the capital, our research identified the towns within an hour commute of London that offer the best return on investment.'
If you are thinking about launching into your own self build project then Goodfellows Land and New Homes can help you do just that. We have a specialist team who are able to draw upon our network of offices to locate and sell land for you. Our teams are always aware of potential land developments, spotting any opportunity and acting upon it to enable you to take advantage.
There is a constant demand for land and more ‘brownfield’ sites are reclaimed and redeveloped, so more quality housing can be built. This can include individually designed homes, as well as affordable rented and shared ownership schemes.
Goodfellows are able to assist land owners of any size of site – both small sites, gardens for example, or a light industrial complex. The team has developers ready to purchase land of all varieties and all types of usage.
Our land specialists are on hand to negotiate the sales and planning processes. Where the legalities can change, we make sure local and national governing criteria are met, as well as maximising the return on your land.
With our offices looking out for local opportunities, you can rest assured that we are able to keep you one step ahead when it comes to investment opportunities. If you register your interest with our specialists, we can keep you up to date with the availability of the new sites for development.
For more information please call our team on 01372 745562.