New House Build in Garden - Issues?
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Hi All - I have just submitted planning (through an architect) for a 3 bedroom detached house in my back garden. I plan on getting a builder to do the shell, roof and windows. I'm going to finish the rest myself and it will probably take me 2 years bearing in mind time and cost as i work full time. 1) Am i right in assuming that once the new build is complete, i have three years to move into it and sell the original house? This way i will avoid CGT. Also, what signifies the end of the build before this three years starts? 2) How easy/hard is it to get gas/electric/water to the property. There are other properties in line with the proposed new build and i assume they will come from there. Any idea how much this costs and who i contact and when? 3) When is the best time and how to i formally split the land so that the 'area' becomes the new address. Should it be before, after or near completion of the build. Also, how is this done? 4) I have a mortgage on my current property. would they be interested in this spilt of land and will they want a peice of the pie?! Do i have to tell them? 5) I've heard i can claim back any VAT on building costs? What do i need to keep in order to do this? I know there's alot here but these are my primary concerns and any help on the above and other areas i should be thinking about in advance would be greatly appreciated. Many thanks for your time and help.
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Answer:
first get a building per-mite building office will have most of you answers
Bobsy at Yahoo! Answers Visit the source
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