Building a Home Renovating Design Dilemma

Building survey and timeline help

12 days ago

Hi,

I'm looking for advice on a project to convert a house into 10 flats. I'd like feedback on what the timeline should look like.

architect preliminary ideas
planning department to look at ideas
get a building survey done
draw up plans based on survey findings (costings etc)
planning department feedback
lenders, mortgage
make an offer on the house
drawings, plans, regs etc
planning application
if approved, move forward with the offer
contract team

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Comment (1)

Jonathan
12 days ago
Unless you have an established record with this type of project and are known to your lender I think this is Pie in the sky. If you are inexperienced there is little chance of getting the loan, if you won’t commit to the house until planning is approved the seller is not going to hold it for you, and if you loose the house having spent thousands on architects and surveys then it’s wasted money.

Your first step should be to approach a lender about this specialist borrowing- converting this house into 10 properties excludes you from a typical mortgage. Most likely you will also need to have sufficient funds to service the loan for two years plus additional working capital to pay for building works.

You should also get some working figures for the conversion and be prepared that the lender likely won’t make that money available to you until you have got the property to predefined stages meaning you will have to have the cash upfront to pay the builder.

By all means get preliminary advice from an architect and the planning office but don’t spend any money until the property is yours.
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Building survey and timeline help

Comment (1)

Jonathan

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