I Squared Property’s latest new build project
Latest New Build Project
I Squared Property’s Latest New Build Project started out a while ago now. It is now completed and it is fabulous. However, I want to talk to you about new builds and the problems we can face.
We love to take on land and building fantastic properties for our tenants to build their families in the homes we build. But, that doesn’t mean we don’t have to be adaptable, because we do. More than ever!! WE have to think on our feet and be able to make changes where necessary; more often than not for the better too!!
One of our problems
This latest new build project came with numerous issues. The drains and the school behind our property being a biggie!!
We had to contact the school because of the drainage.
Crazy I know, but it should have been done at foundation level. It wasn’t because of a last minute notification of a potential to tap into the main drains. At the last minute the property manager, for the school, completely moved the goal posts. This made things more difficult than they needed to be.
We reached an agreement eventually!
However, we did come to an agreement. This agreement started off a £5k then to £7k and involved writing into the term that the school could move the drains at any time. However, they were stipulating this would be at the cost of the homeowners.
Of course, nobody would agree to buy a home with that condition in place and we knew this. So, we had to think on our feet and keep negotiating.
It did seem that it became all about the money, to the school. We knew we had to sort this out and of course we did! Not until we had been backwards and forwards via email, had numerous phone calls and not to mention the extra costs to us in solicitors’ fees. Finally it was all agreed and we settled at £8,000.
A good job for contingencies, we thought at the time….
Lockdown
The drainage is just one of the points I am mentioning. It was just a biggie and, at the time, it was very frustrating!!
As if it couldn’t get any worse. Lockdown hit and things became a little more difficult. We didn’t know if we were even going to be able to continue the builds. Although, I Squared Property Ltd rarely let anything get in our way. Even something as massive as a national pandemic.
We knew supplies were limited and, of course, in high demand by so many. But, because we have built such good relationships, along the way, we managed to get what we needed.
Build relationships
Just goes to show, relationships and team work are key to every project. We make it our priority to always work with people we trust and who we can have the best relationships possible. It is like a partnership.
What is that saying? ‘Team work makes the dream work!’. Well, that is how we work. As a team!
Because of our fantastic relationship with our suppliers, they came through for use and we were able to carry on and keep to schedule.
Drain Easement
So back to the drains!!
In case you wondered, drainage easements allow municipal workers or other entities access to properties to make repairs so that water will not pool or flood.
In that sense, drainage easements are a plus, as no one wants flooding on their land. Otherwise, the homeowner has full use of the easement.
Drainage easements are very common, and many people are unaware of their existence on their property unless they consult their deed or work is required.
So, you can see why we had to get ours sorted.
The Roof
The roof was installed on all three houses in 2 ½ days which was a fantastic result. We were so impressed by this.
Because of the speedy turnaround, it meant we could move onto the installation of the windows. This was making the external part of the houses complete. Obviously, installing windows meant the houses would be water tight, meaning we could move inside.
This means we are getting closer to the décor part, which of course is one of my (Laura’s) favourite parts.
Plaster
The lockdown did create a massive shortage on plaster. I think everyone within the building world felt this. We had 2 pallets on order, yet only one arrived.
At least the plasterers could make a start and eventually the 2nd pallet came, however, it did feel like we were on the back foot. We don’t like to work this way. But we did well, considering what was happening in the world.
Back on track
That is it we were on schedule for the contractor was due to start.
The school was between terms and this was the only time they would let us do the work. The pressure was on. We had to excavate part of the car park to lay the drainage to connect. So this was a massive task!
Two days before and our contractors called us to say that unfortunately he was unable to take the job due to family issues.
We couldn’t write it. It was crazy, we tried everything and called everyone we could think of.
This was not good and we were thinking that’s it we are going to have to wait and do the ground works in October, due to this being the next school holiday.
We had actually scheduled to have completed the project by October, so clearly this was not what we wanted.
Noooo….
That night I could not sleep! My mind was racing and thinking, ‘what can we do, who can we contact?
However, the Law of Attraction worked it’s magic and the following day we had a call from a friend of a friend.
Guess what, this friend of a friend had just had a job pushed back and he would be able to take our contract on for the drainage and groundwork. How amazing!! See, back to building those great relationships.
We have never felt such a sense of relief all systems go again! Let the rollercoaster of property continue.
The ground works
The ground works went to plan with no more issues. However, when it came to curb stones our main contactor had a knee injury so we were left short.
Not to worry as few local developers we have relationships with sent over some workers to cover for a few days.
This was great, but, we really needed someone on a more long term basis to finish the job. Unfortunately, the main contractor could not return to work, so we had to try an agency.
This worked out. Of course, we had to kiss a few frogs, but we had a few good lads in the end and the job was completed. We were very happy.
Internals
Onto the internals of the property. I love this bit and I am pleased to say we had very few issues.
The only issues we had were from a few delivery issues with Howdens, but, we were pleased with how the job was running to time and the end was in sight.
Plot 3 was the first property to be finished and sell. However, still to this day, February, as I write this the buyers are unfortunately stuck in a chain. This worked out ok, as the house was dressed and we were able to use it as the show home.
Staging
We used one of the plots as a show home and used V R Staging to dress the property.
We really wanted to give potential buyers the feel that they could see themselves living in here and grow a family in these spacious homes.
The agents we have worked with have really gone above and beyond. We were very happy that all three plots were sold before November 2020
We had our first people move in!! In January and the new owners are enjoying their new home.
An experience
What can I say, the projects have come to an end. Of course, we are on with our next one.
But, just to reflect on these for a few minutes.
We have certainly learnt a lot from this project. I can honestly say, we have loved it and cannot wait to move onto the developments we have in the pipeline for 2021 and beyond.
I think we can rightly say we are so proud of these properties. Not just the end results, but the way we managed all of the obstacles along the way. Not to mention the national pandemic, that everyone is struggling with. To be able to bring a little joy for a few people with these beautiful homes, really has been the cherry on the cake, for us.
It’s official!
For a while we didn’t have a road name. Well, guess what? Now we do!!
We have an official road name… Woohoo!!
Because of the newly official road name, our development is now known as ‘The Middlecroft Development’. I Squared Property’s latest new build project.
Grateful
We are so grateful to everyone involved in our latest new build project and many other of our projects at I Squared Property Ltd.
We are looking forward to growing our existing relationships with contractors and other builders.
Of course, not to mention the fantastic relationships we have with our existing investors and also building relationships with our new investors.
Be back soon
We will keep bringing you up to date information about Sheffield, I Squared Properties and what we are up to and new developments we are taking on.
Speak soon
Laura and James