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Showing results for tags 'redevelopment'.
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Hi, I have Inherited a one bed property on a prime plot of land (valued at c.600k). There is potential to redevelop into a 5 bed property by either knocking down and starting from scratch or use the existing shell of the current property. What I'm not sure about is whether it would be better to make it into a 5 bed or 4 bed. I'd like to know how I can find out what the demand is for either and whether it's worth investing a bit more turning it into a 5 bed rather than 4. For context, the property next door was redeveloped a few years ago and is a 4 bed which has been valued at £1.2m Thanks
Hello Everyone, I was wondering if anyone who regularly undertakes buy to sell property flips knows what insurances are required? If one was to hypothetically purchase a house through a limited company for the sole purpose of refurbishment and resale, is it necessary to take out specific site insurance? I gather basic home insurance isn't suitable and often cover is void during periods of refurbishment? I also understand that your contractors insurance wont cover you either? Any advise as to what cover is required and any recommended providers would be excellent! Many thanks in advance, Jack
Hello, I live in south east London and have for some time thought that I could split my property currently a 4 bedroom property into two x 2bed properties and significantly increase the value. I wanted to know if anybody had done anything similar and if they had any tips or advice. I have put some details below. - The property we live in was originally a 2 bed end of terrace which the previous owner extended to make into a 4 bed property. The 4 bed property is worth around 400k but as two separate properties would be worth around 550k. - Another person did something similar further down the road which gives me hope that the planning permission could be possible - We have finances in place so wouldn't need to borrow to do the work, but would aim to remortgage the two properties at the end of the works. - The one side of the house would involve only minor works to convert, the other side would involve more work, kitchen instillation, layout remodelling, new staircase. Some questions I am pondering and would appreciate any advice on are: 1. How difficult/expensive is a tittle split, is setting up separate water/electricity supply going to cost lots and how quick can this be done? 2. How should I select a company to assist with the work, is it best to get a architect and then employ separate builders or should I look for a company that does it all (less hassle but possibly more expensive?) 3. What are the tax implications when I come to sell? to what extent do i still get principle private residence relief. How would the capital gains tax be calculated if I sold one or both of the final properties. Let me know if anybody has experience on this type of thing, I have quite a bit on splitting a property into flat but not a lot on splitting into separate houses, Maybe I should be splititng as flats, but to me houses just seem to fit the property better. Jason