How to buy land for a flat-pack home
Where to find the land
Search online using land-finding agencies such as Plot Finder, which advertise plots all over the UK. You may have to pay a small fee for details. Also try estate agency sites, such as Find A Property where you can use the advance search criteria to narrow your search for land only.
Sign up with local estate agents in the area you’re interested in, narrowing your search to include renovation properties only. You may be able to buy a run-down property with a view to demolishing it and using the site to build a new home.
Auctions often offer plots of land for sale and you’ll sometimes be able to get them below market value. But watch out as you’ll need to arrange funding prior to the auction. If your bid is successful, you’ll be expected to pay a 10% deposit there and then and the balance within 28 days. If you’re one of the lucky few to find the right plot or run-down property ripe for demolition through an estate agency then beware the sealed bid system. Unlike an auction where you can see what level of interest there is in the plot, and what other people are willing to pay if you’re asked to submit a sealed bid then you may end up paying well over the odds for a piece of land.
Working out the value of your plot
Homebuilding and Renovation Magazine offers a useful way of working out the value of the plot for yourself, "Simply establish the end value of the house you intend to build (the agent selling the plot should help with this), subtract the expected build costs (work them out here) and another 20% margin (for profit/contingency) and you will have the value".