Demolish & Rebuild...
Have you found a plot with a property already on?
Or are you considering replacing your current home with a new build? We can help...
Plots with existing houses - Have you considered replacement dwelling?
Replacing an existing house is increasing becoming one of the most popular ways to build your own home. In fact, around 40% of Potton customers prefer this route to build. Building plots are notoriously hard to locate, finding a plot wtih an existing dwelling and re-building on it provides a plausible route for many. Planning policies generally allow one dwelling to be replaced with another, often of increased size.
Often people are planning to renovate or extend their home when they consider demolition as an alternative route. Demolishing an existing home and replacing it with a new one is a great way to achieve the home you really want. Although Potton wouldn't carry out the demolition process, there are many companies who can offer this service and demolition is typically inexpensive.
Why is this option popular?
The main benefit of buying a house to knock down and replace is that the principle of residential development has already been established and therefore you are guaranteed to get planning for a suitable replacement. Unless the existing house is listed or in a location with planning complications such as a conservation area, the process is fairly straight forward and the planning authority will usually be very supportive in approving your proposals. Furthermore, neighbours to the plot are often much more understanding as the impact of a new replacement house is more likely to be positive lifting the value of the immediate area.
- You can often build a home much bigger than the existing house depending upon the local development policy and permitted development rights– Potton’s planning appraisal service can help with this
- There’s more of them around so finding a suitable plot may be easier
- Starting again will give you architectural freedom to create a home that suits your needs and is more energy efficient
- Mains services are readily available and by using these, connection costs are likely to be very reasonable
- Access to the plot is established and therefore highways issues such as the provision of visibility splays are unlikely to be a problem
- Demolition is actually quite inexpensive and much of the material such as crushed brick and concrete can be reused in your new build.
Do the numbers stack up?
In deciding whether to replace an existing house with your dream home, the best place to start is to make sure your plans are commercially viable. It’s a bit of a myth that the house you are buying holds the value and often, especially with dilapidated properties in good areas, the value remains with the plot and knocking down the house will make no difference to its value. That said, you should consult a qualified valuer to make sure this is the case before you commit to buy!
Before you buy the plot, have a good idea of what you want and how you want to build. At this stage, you don’t need firm plans but just enough information to be able to work out the end value and construction cost of a suitable home. Potton’s idea’s book and price guide are great tools to help you do this.
Don’t forget, when you build a new home, you can also reclaim most of the 20% VAT which is a significant saving compared with carrying out an extensive refurbishment which does not have the same benefit.
Once you understand the value of the plot, and the cost to build you can simply add these together and compare them to the finished value to make sure your project is viable. Hopefully, as many of Potton’s customers discover you will find a healthy level of equity and will want to get started by working with Potton’s designers to create an individual house design that compliments you and your plot perfectly.
Get in touch
If you'd like to discuss replacing an old home with a new Potton one then get in touch and we can put you in touch with one of our Self Build Consultants. Contact us via the online form here
Client Case Study - 'From Hovel to Home' - Michelle & Andrew Earl
Land Cost: £212,500 (1/3 acre plot with existing house on)
Build Cost: £200,000
Current Value: >£475,000
The couple worked with Potton to design their dream home. Planning permission was granted which allowed the couple to live in the existing house on site until their new home was complete (providing it was demolished directly after). The new home was built almost directly behind the existing house and after 16 months their brand new home was ready to move into!
If you ask Michelle and Andrew where they were living, they will say 'in a mundic block build house they affectionately called 'the hovel'. The couple bought a 1/3rd of an acre plot with an existing house on it in Cornwall.
Their Potton home cost £200,000 to build and was valued at £475,000. The home they have now is just as they wanted it, not to mention eco-friendly and highly insulated.