Build vs: Buy

[thomthom49]

Hello Nigel,

We are American citizens legally resident in the UK for the last forty years. We are both in receipt of UK and USA state pensions. We're selling up in the UK and moving out this year, probably before the end of summer. We have two good advisors in Louise Zambartas and Lyn Webster. So far we have been looking at a resale but we may have an interest in purchasing a piece of land and building to spec on it. I'm 72 and in good health but... I really don't want to wait two + years for a new house to be constructed and then pay to move my furniture and goods again. I am perfectly content with a steel and timber house because I know the build process can be faster. So my question is around how long it normally takes get the permits and build an average 250 square metre house. Thanks for any insight you offer.

[Nigel Howarth]

Hi thomtom49 and welcome to the forum.

We bought land in 1992 and by 1996 we'd finalised the plans with our architect.

We moved to Cyprus in April 2002 and got bills of quantities and invited tenders from six building contractors. Later that year we'd selected our contractor and work got underway.

We moved in to our new home, a 220m2 bungalow, at Easter 2004.

(We had our furniture stored in the UK and shipped it over in time to move in.)

The whole process, excluding purchasing the land and finalising the design, took two years.

Regards,

[Pantheman]

Hi thomtom49 and welcome to the forum.

We bought land in 1992 and by 1996 we'd finalised the plans with our architect.

We moved to Cyprus in April 2002 and got bills of quantities and invited tenders from six building contractors. Later that year we'd selected our contractor and work got underway.

We moved in to our new home, a 220m2 bungalow, at Easter 2004.

(We had our furniture stored in the UK and shipped it over in time to move in.)

The whole process, excluding purchasing the land and finalising the design, took two years.

Regards,

Nigel, I suspect that it'll take longer than that today. I recently renewed my building permit and that took 14 months alone and the planning renewal took 8 months or so.

Add to this the construction time 9 mths - 1 year.

Due to Brexit (or any 3rd country national) I believe that the land would have to be bought from a developer who will then build on it for you, as Council of Ministers permission is now required and it is subject to a house being registered on the title, otherwise the title for the land cannot be transferred to your name.

It is currently causing us much headaches here.