This last month has been exceptionally busy for me in many ways. As well as developing a large property locally, which we bought in December, we are buying another large Victorian property not too far away to develop as an HMO as well. We sold the other property (mentioned in my '
Selling houses' blog post ) and are awaiting the proceeds from that sale!
Getting into the HMO (house of multiple occupation) territory has been, well, I'll call it
interesting! We have encountered shocked building regulators, stunned planners, taken aback developers and perturbed builders. Many trying to dissuade us from our intended course of action. Admittedly, they have reacted this way because we have literally stumbled upon problem after problem, and our ignorance in this field has been evident! However, what I have learnt from the process so far has been much greater than if I'd just read about it in a book.
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| Kitchen into extension |
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| Extension - in its raw state! |
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| Original kitchen |
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| Newly built stairs to loft extension |
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| One of the new en-suite shower rooms |
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| New door frame for fire doors - it will be attached to a wall eventually! |
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| First look at the Velux windows |
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| Looking down from the loft |
I can quote the acoustic tolerances in decibels needed for a registered HMO; list the fire safety requirements and necessary wall linings; tell you the various laws and policies that govern HMO development; and give you the low down on information repositories. What I can't tell you is where to get the mettle to do it.
Because believe you me, you need mettle in this business. Although I had quite a bit of experience as a 'landlady' I had little as a developer. I had dipped my toe in the HMO water and found it to be tantalising, so we decided to take the plunge! But the development of a seven bedroom HMO is a project on another level!! Having support from others around you who do believe in you and will encourage you is absolutely vital, as is networking with others who have trodden the path before.
We recently attended a
PIN meeting in Stoke which was highly valuable and I would thoroughly recommend it. Check out
Property Tribes forum too - a lot of worthwhile contacts and experienced landlords and investors post there.
Developing your network takes some time and effort, although I can't complain about the oft-used venues for such rendezvous (delightful coffee shops, tea rooms and charming hotels being my faves)! You will find that far from creating competitors you will develop friendships, and in hard times it's these folk who will be your most valued supporters.
