In a country where house prices are increasingly making it difficult for the lower paid to get onto the property, I have an idea that would that not only would alleviate the housing crisis but also create employment for many.
The problem is, I need £1.5million to do this.
I’m not a mathematician nor a house builder, so these figures maybe slightly out but he premise of the idea is sound.
Simply put, I would build a block of flats of good quality and finishing, the sort that would be ideal for first time buyers, and put them on the market at a price that is actually affordable. Just for talking sake, say 30, 2 bed flats cost £1.5million to build, inclusive of costs etc, and the market value for each flat was £130,000, I would market these at £100,000 with a built in 3 year no re-sell clause.
Selling these initial properties would provide an approximate 95-100% profit, that profit in turn would help build 60 flats and so on, eventually making enough money to start building more social housing of a decent quality.
With the current state of housing crisis, I cannot understand why the government can’t do much more to help build Britain a brighter future, a future where people can actually aspire to and afford a property of their own. Too many greedy housebuilders only think of profit, profit, profit which is sensible if you have shareholders to account to, however in an age where we are short by 500,000 properties, the above idea makes complete sense to me and maybe me alone I’m not sure.
Starting on this house building bonanza, this would also help to secure much needed employment and also create new employment up and down the country.