Building Plot

Assessing a Building Plot

The primary considerations in assessing a site location are generally subjective:

Assessing 'best value' for a particular plot of land is difficult, as much will depend on your needs, the funds you have available and the plans you have made for the future. Quality and quantity need to be considered and compared against the asking price for each plot. The higher priced building plots are likely to be located in higher valued neighbourhoods, and this fact alone will underwrite and influence the property's completion value. However, a larger plot in a pleasant but out of the way location may cost less to buy and therefore enable a more substantial property to be built upon it. This, in turn, will allow you to create a property with more rooms, better living space and an extensive garden. Finding the right balance between quantity, quality and cost is essential at this early stage, as it will determine how you proceed and the kind of property eventually built. One of the greatest rewards of a self-build scheme is the opportunity it gives to control the living spaces you require. The more space you have, the more creative you are able to be and the easier it is to produce something unique and satisfying.

Location may be viewed quite differently if the project is a short-term proposal and merely a stepping-stone to a more adventurous self-build scheme. In this case, the purpose is to maximise value by building a property appropriate to the site and its surrounding locality, ensuring that the plot can be easily landscaped and presented quickly to the market. In this situation, the old developer's adage applies: 'Minimise costs and maximise profits'!

The geographic position is a major consideration, regardless of the site. It is fundamental for a self-builder to make himself aware of the physical nature of the plot and how it may affect him and his family in the future. The most significant questions include:

There are also additional matters to contemplate, including the type and size of other properties close to the site. If the plot is substantial and you intend constructing a home to fill the expanse of land, will it be incongruous with other housing in the neighbourhood? The size and design should be sympathetic with those nearby, otherwise it may never realise its true market value. You should also take a wider perspective and look beyond the plot's boundary to assess the amenities and facilities available. Do they meet the needs of your family? Important matters might include the quality of local schools, leisure facilities, shopping, health centres and, of course, access to the motorway network and to public transport. Consider the fact that commuting time is much more important than commuting 'distance'. This factor can greatly increase the number of potential areas you might look at when trying to identify where a suitable plot will be found. Where a motorway junction is nearby, it could take much longer to get to it, if the linking road is one frequently congested with traffic. Conversely, a junction some miles away could be advantageous, if there are quiet roads leading to it.

In Summary

Research the area thoroughly to identify any proposed future local developments, which may adversely affect your self-build scheme.

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