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First Time Buyer Loses The Plot |
| Written by malcolm cook | |
| Sunday, 25 March 2007 | |
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FIRST TIME BUYER LOSES THE PLOT?
Times have never been harder for first time buyers, with property priced out of their reach and interest rates on the rise. But one young entrepreneur has set herself a challenge: find a plot of land in London and build a studio flat – all for £100,000. It’s a novel way to get on the property ladder but young executive Sophie Cook is determined to get her dream home built. Sophie comments: ‘John Prescott launched a competition for developers to build a house for under £60,000, which is a great idea. But that doesn’t allow for the plot which has to be purchased as well. My problem is I can only raise £100,000 for my first property, so I have just £40,000 to buy a plot.’ Currently in a Fulham flatshare, Sophie is concentrating her search on a slice of unused London garden – with a good chance of gaining planning permission – which she can buy from the owners for a £40,000 cash lump sum. ‘I know how expensive land is in London,’ says Sophie, ‘but I am hoping pensioners who have a corner plot and are finding the garden to large to cope with would like to offer me the space and benefit from an input of £40,000. I’m also on the hunt for an architect or developer who can design my ideal home – a studio on stilts so I can park my car underneath.’ If you are interested in following Sophie’s trial or if you know of someone willing to swap part of their unmanageable garden for a cash input or you are a designer who loves a challenge then call Malcolm Cook, organiser of The First Time Buyers’ Property Show 2007.
For further information contact Malcolm Cook: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it Tel: 01865 892393 Fax: 01865 893568 M: 07814 656852 www.ftbshow.co.uk First Time Buyers’ Property Show 37b Monument Business Park, Chalgrove, Oxford, OX44 7PW
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