New Build Vs Buy Fist Fix house or Second Hand house

Peter2.0

Good morning all happy new year, looking for Abit of general advice from more experienced users. Currently living in laois.

Currently selling our home of 5 years which we've outgrown, intended to buy something bigger but supply and demand is pushing is out several times.

1.

What would people's opinions be on building from scratch will need to buy site etc?

2. First fix has come up for sale nearby what is the general consensus on doing this? Planning on 2010

3. Hold out for house to come up and sacrifice choose of how far away we move

Unless you have a truckload of cash, you're going to have to compromise on size/quality/location. Even if you do have a truckload of cash, there's a pretty strong chance that the perfect house just isn't for sale in the area you want to buy.

Planning permission is generally difficult to get in the countryside, and in urban areas you can still buy significantly cheaper than you can build (unless you're in the industry) so what's the point?

All things being equal, I'd say the best option is buy which is acceptable (vs ideal) on a decent sized site in the area you want to live in. You can then upgrade/renovate & extend immediately or over time as your circumstances allow/require. (I'm assuming your current home isn't suitable for extending or this would have been your first choice).

awec

On option 2, I think you'd want to understand why the house is being sold at first fix stage (has someone's financial situation suddenly changed or is there an underlying issue that the bank doesn't like), and also how long as it been in this condition.

Peter2.0

After some digging it's family reasons, house is to roof level for last 10 years

iniscealtra

Buy the first fix and finish it. It’s your only guarantee of staying in that area and you can do finish’s as you wish.

No brainer in my opinion

iniscealtra

The house is already there and probably an eyesore. You should get planning for it. It will have to be renewed unless the septic tank is in I think. You might have to sell your own house first though as you would have no housing need when you own a house and can extend.

Friends of mine did this. Worked out great but they were renting as it was someone moving back to area.. Found a house built to roof level and worked out great.

Have you considered adding to your own house? That would be the best option in my opinion if you have the space. You also might have to move out for a bit as you do the renovations.

Otherwise buy an existing house and just move in.

Peter2.0

Thanks, how would you approach the whole thing, Do you get quotes from builder to finish or get to architect to get plans.

iniscealtra

They got quotes from the builder.

iniscealtra

Buy subject to planning (as in sale only goes through if you get planning - if needed)

sydthebeat

https://www.boards.ie/discussion/2058277678/new-build-vs-buy-fist-fix-house-or-second-hand-house

if buying a site in laois, you would want to be sure that either

1. local needs will not apply to the area or

2. you will comply with the requires to fulfill 'local needs'

this will not apply to the unfinished build.

the pros for an unfinished build are:

1. you dont need to worry about planning for the house, maybe only planning to finish and renovate / extend
2. often the value is more than the asking price, as someone has already swallowed a loss on it.
3. you need only comply with the building regulations which were applicable at the time of commencement.

the cons of an unfinished build are:

1. often sold with no certification, therefore youve no way of knowing pre purchase if the foundations are good enough, if theres insulation under floors etc
2. you may have to pay for testing of poured concrete
3. some works may need to be demolished due to condition
4. youre reasonably tied to the plan as is.