Homebuilding and Renovating magazine 2004 study

We have taken 11 of the 12 monthly magazines covering 2004, we have not been able to get hold so far of one months copy,  and extracted from the articles information on land prices, build cost, and property value on completion, and tabulated these.  We have then calculated the profit made, the return on capital employed as a percentage (percentage profit) and the discount or saving percentage the people achieved from these builds. The table has been sorted by the percentage saving, and this column is bolded.

If a person is obtaining a property with a 50% saving then they are in effect getting this property at half price, if they were to get it at a 75% saving they would be getting it at a quarter of its normal price.

Within this club we would normally suggest that you will see a 40% saving on the purchase of a similar home, and this table does tend to suggest that this has been achieved by many more people than have not.  The majority of the people involved in these projects do not appear to have gone out with the intention of maximizing return and the major motivation for many is getting a very high quality home, to suit their dreams. Particularly with contemporary homes the fittings, kitchen and the like is often so expensive and personal that it does not offer the same degree of saving as other cases.

Quite a number of the entries are renovations, so involve purchasing a house that is to be renovated and we have still counted this as the land purchase, however when the amount spent on renovation is small compared to the value before it does not show such high savings as in other cases so this accounts for many of the entries further down the table.  

In a number of other cases the plot has been obtained by buying another house and demolishing it, this accounts for large plot prices on some new builds, and the erratic nature of plot prices in this table. As many people have great difficulty in obtaining plots, this is a route many find it has been necessary to take. Where plots can be proactively sourced, generally the plot cost will be lower than when an existing house has been bought and demolished.

There are some errors in this table, in that there are a small number of entries with no land price shown, this is often because either the person had the land already and it cost them nothing or where they split off other pieces of the land and recovered the total price in effect getting their plot for free. One entry had no current value this is the modern palace and we took a rough guess at what this might be worth, it is just that, a guess. In some cases people have been very involved in the build undertaking quite a bit of the work themselves or having relations or friends do it for them, which may give a slightly wrong idea, as the time they have put in has not been accounted for.

As most of these homes are very luxurious and are shown as show homes, this is not necessarily representative of the total of self builds, and may be more expensive than many, finished to a higher standard and therefore statistically not a relative selection, however we do believe that the table illustrates the types of project that show large savings and the sort of savings that people have made.

Land
build
total
value
profit
profit 
%
saving
 %
location
month
page
beds
style
cost m2
0
100,000
100,000
1,350,000
1,250,000
1250
93
Kent
5
66
5
Art deco restoration
 
106,500
190,000
296,500
1,600,000
1,303,500
440
81
Cheshire
1
26
5
Georgian
567
65,000
65,000
130,000
500,000
370,000
285
74
Cambria
1
64
3
period conversion
290
100,000
135,000
235,000
900,000
665,000
283
74
Hampshire
1
34
4
barn conversion
325
37,000
39,600
76,600
275,000
198,400
259
72
Rutland
10
102
4
new
267
 
 
400,000
1,400,000
1,000,000
250
71
London
1
119
 
Terrace conversion
1666
62,000
92,000
154,000
525,000
371,000
241
71
Yorkshire
10
56
4
barn conversion
311
49,000
48,000
97,000
310,000
213,000
220
69
Herefordshire
12
28
3
new oak frame
436
10,000
22,000
32,000
100,000
68,000
213
68
Devon
6
52
1
stone barn conversion
733
28,500
28,000
56,500
175,000
118,500
210
68
County Durham
6
26
2
Warehouse conversion
117
265,000
151,917
416,917
1,250,000
833,083
200
67
Bristol
2
52
7
Converted granary
301
 
320,000
320,000
950,000
630,000
197
66
Northamptonshire
8
28
4
new period
1292
91,500
130,000
221,500
650,000
428,500
193
66
Herefordshire
5
14
5
granary conversion
400
210,000
100,000
310,000
900,000
590,000
190
66
Essex
5
44
8
Mill conversion
?
50,000
218,000
268,000
750,000
482,000
180
64
Devon
8
72
4
Contemporary
920
72,000
55,000
127,000
350,000
223,000
176
64
Buckinghamshire
4
50
3
Period rebuild
?
100,000
250,000
350,000
950,000
600,000
171
63
Devon
10
90
4
new thatched earth house
735
89,000
8,000
97,000
260,000
163,000
168
63
Derbyshire
9
76
3
renovated Georgian
?
0
281,000
281,000
750,000
469,000
167
63
Oxfordshire
12
62
4
new barn
976
67,500
375,000
442,500
1,175,000
732,500
166
62
North Wales
11
26
4
contemporary on slope
1157
750,000
1,200,000
1,950,000
5,000,000
3,050,000
156
61
London
9
16
3
factory conversion
 contemporary
1961
 
 
150,000
375,000
225,000
150
60
York
1
131
 
Georgian
 
75,000
25,500
100,500
250,000
149,500
149
60
Suffolk
11
92
3
period cottage restoration
?
85,000
125,000
210,000
515,000
305,000
145
59
Lancashire
9
26
6
new Georgian
446
48,000
150,000
198,000
480,000
282,000
142
59
York
12
82
4
new
949
212,000
160,000
372,000
875,000
503,000
135
57
New Forest
2
42
4
new barn
751
720,000
350,000
1,070,000
2,400,000
1,330,000
124
55
Surrey
9
67
7
new arts ad crafts
902
171,000
80,000
251,000
550,000
299,000
119
54
Dorset
12
54
3
period cottage restoration
479
30,000
130,000
160,000
350,000
190,000
119
54
Norfolk
4
76
4
brick barn conversion
743
60,000
100,000
160,000
350,000
190,000
119
54
Leicestershire
8
65
2
Barn conversion
465
30,000
148,000
178,000
375,000
197,000
111
53
Devon
2
22
4
Farmhouse
851
90,000
90,000
180,000
375,000
195,000
108
52
Dublin
8
56
3
Bungalow extended
508
62,000
97,000
159,000
330,000
171,000
108
52
Derbyshire
3
30
5
modern
647
28,500
56,500
85,000
175,000
90,000
106
51
Darlington
1
117
?
Modern conversion
?
200,000
2,787,000
2,987,000
6,000,000
3,013,000
101
50
West Yorkshire
11
82
7
Modern palace
3000
75,000
75,000
150,000
300,000
150,000
100
50
Yorkshire
3
14
1
period conversion
892
35,000
95,000
130,000
250,000
120,000
92
48
Norwich
2
64
3
modern
698
156,000
625,000
781,000
1,500,000
719,000
92
48
London
1
18
5
light industrial
1335
119,000
26,493
145,493
279,000
133,507
92
48
Kent
10
80
2
Victorian terrace renovation
276
15,150
220,255
235,405
450,000
214,595
91
48
Lincolnshire
10
18
?
church conversion
741
225,000
225,290
450,290
850,000
399,710
89
47
Surrey
1
94
5
Modern on small site
1236
500,000
300,000
800,000
1,500,000
700,000
88
47
west Sussex
3
108
2
Bungalow extended
?
100,000
207,000
307,000
575,000
268,000
87
47
Belfast
4
58
4
remodel to contemporary
674
350,000
613,000
963,000
1,800,000
837,000
87
47
Dorset
1
52
3
contemporary
1304
 
 
212,000
380,000
168,000
79
44
Kent
1
129
 
Contemporary
1309
210,000
300,000
510,000
900,000
390,000
76
43
Gloucestershire
10
42
2
Water mill conversion
1020
190,000
125,000
315,000
550,000
235,000
75
43
Somerset
3
142
3
remodeled barn conv
278
900,000
200,000
1,100,000
1,900,000
800,000
73
42
London
3
84
4
Victorian renovation
800
200,000
292,500
492,500
850,000
357,500
73
42
Oxfordshire
10
30
4
contemporary oak frame
925
325,000
497,000
822,000
1,400,000
578,000
70
41
Gloucestershire
3
44
6
rectory conversion
747
80,000
215,000
295,000
500,000
205,000
69
41
Somerset
10
64
3
period conversion
1023
135,000
230,000
365,000
600,000
235,000
64
39
Lake district
11
50
4
new traditional
639
300,000
230,000
530,000
850,000
320,000
60
38
N yorkshire
9
48
6
renovated farmhouse
774
117,000
450,000
567,000
900,000
333,000
59
37
Doncaster
11
70
6
new gothic
1077
 
 
320,000
500,000
180,000
56
36
Lancashire
1
125
4
Warehouse conversion
723
156,570
150,400
306,970
475,000
168,030
55
35
York
3
116
6
Georgian
568
75,000
200,000
275,000
425,000
150,000
55
35
Gloucestershire
/Herefordshire
4
94
3
stone barn conversion
916
270,000
250,000
520,000
800,000
280,000
54
35
Oxfordshire
3
52
4
oak framed
1041
285,000
300,000
585,000
900,000
315,000
54
35
Warwickshire
3
72
4
period style
923
120,000
140,000
260,000
400,000
140,000
54
35
Monmothshire
4
86
4
Modern house
523
50,000
80,000
130,000
200,000
70,000
54
35
Stafford
8
36
1
mill conversion
702
75,000
110,000
185,000
275,000
90,000
49
33
Edinburgh
11
40
?
shop conversion
550
80,000
345,000
425,000
625,000
200,000
47
32
Northumberland
6
64
5
split level on bung site
825
350,000
215,000
565,000
825,000
260,000
46
32
Somerset
3
182
4
modern
782
350,000
100,000
450,000
650,000
200,000
44
31
West Yorkshire
11
18
?
1920s with extension
766
1,450,000
1,000,000
2,450,000
3,500,000
1,050,000
43
30
Kent
3
167
10
Victorian mansion restoration
873
0
850,000
850,000
1,200,000
350,000
41
29
Derbyshire
12
18
3
Water mill conversion
1889
175,000
100,000
275,000
385,000
110,000
40
29
Leeds
4
70
4
remodel into roof space
714
55,000
241,895
296,895
415,000
118,105
40
28
Ireland
3
128
5
Contemporary
1130
80,000
200,000
280,000
390,000
110,000
39
28
North Yorkshire
12
90
4
eco new
1075
160,000
250,000
410,000
550,000
140,000
34
25
Northamptonshire
5
76
3
barn conversion
961
120,000
197,000
317,000
425,000
108,000
34
25
Suffolk
6
44
4
Period cottage restoration
908
30,000
60,000
90,000
120,000
30,000
33
25
Yorkshire
9
58
1
Stable conversion
1621
171,000
10,000
181,000
240,000
59,000
33
25
Oxfordshire
5
100
2
Victorian cottage renovation
 
 
 
190,000
250,000
60,000
32
24
Cotswold's
1
121
3
Eco house
520
40,000
150,000
190,000
250,000
60,000
32
24
Gloucestershire
4
36
3
on a sloping site
520
125,000
220,000
345,000
450,000
105,000
30
23
Notinghamshire
4
15
5
modern
800
80,000
212,000
292,000
380,000
88,000
30
23
Kent
10
74
3
contemporary
1309
150,000
524,000
674,000
850,000
176,000
26
21
Nottingham
9
38
3
contemporary
1819
150,000
250,000
400,000
500,000
100,000
25
20
Norfolk
1
84
3
Eco home
1190
100,000
100,000
200,000
250,000
50,000
25
20
Stafordshire
12
34
3
Contemporary
645
400,000
122,000
522,000
650,000
128,000
25
20
Oxfordshire
1
42
4
extended period cottage
1130
42,000
180,000
222,000
275,000
53,000
24
19
Huddersfield
3
62
3
Contemporary
1285
 
 
220,000
270,000
50,000
23
19
Glasgow
1
123
 
minimalist modern
1325
30,000
260,000
290,000
350,000
60,000
21
17
Edinburgh
1
104
4
contemporary x2
1050
25,000
109,000
134,000
160,000
26,000
19
16
Skye
5
86
3
Crofter cottage style
725
325,000
325,000
650,000
775,000
125,000
19
16
Hampshire
9
86
4
new
1000
500,000
91,400
591,400
700,000
108,600
18
16
London
2
30
4
modern conversion
3047
340,000
220,000
560,000
650,000
90,000
16
14
Warwickshire
11
60
5
Bungalow extended
676
500,000
800,000
1,300,000
1,500,000
200,000
15
13
Bexhill on sea
2
14
8
Contemporary beach house
1643
260,000
500,000
760,000
875,000
115,000
15
13
Yorkshire
8
14
4
Art deco renovation
766
440,000
225,000
665,000
765,000
100,000
15
13
Oxfordshire
6
80
6
farm house remodel
766
150,000
202,000
352,000
400,000
48,000
14
12
Cheshire
6
36
2
oak framed
1423
70,000
380,000
450,000
500,000
50,000
11
10
Perthshire
6
18
4
American style
800
30,000
205,000
235,000
260,000
25,000
11
10
Cambridgshire
1
111
?
Eco house
1167
 
 
1,378,000
1,500,000
122,000
9
8
Reading
1
115
?
Contemporary
1655
650,000
728,000
1,378,000
1,500,000
122,000
9
8
Berkshire
3
22
5
contemporary
1655
250,000
211,000
461,000
500,000
39,000
8
8
Wiltshire
2
78
4
period renovation
1302
925,000
400,000
1,325,000
1,400,000
75,000
6
5
London
4
24
5
Victorian terrace remodeled
1666
21,500
50,000
71,500
75,000
3,500
5
5
Skye
8
48
2
contemporary
550
600,000
700,000
1,300,000
1,350,000
50,000
4
4
Lancashire
1
74
5
contemporary
1272
40,000
220,000
260,000
270,000
10,000
4
4
Ayrshire
5
54
4
Contemporary
773
 
 
894,000
925,000
31,000
3
3
Bath
1
127
4
period conversion
 
170,000
320,000
490,000
500,000
10,000
2
2
Lancashire
5
22
4
Warehouse conversion
723

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