I was referring to the concept whereby if you swap houses with a parent and live in the house which neither of you owns for a certain period of time (probably 7 years?) before they pass away then you don't pay inheritance tax. I thought that it was an inheritance thing rather than capital gains but I imagine that you know more about it than I because you are actually doing it?
House extension costs
- Thread starter [TFU] Thegoon84
- Start date
I was referring to the concept whereby if you swap houses with a parent and live in the house which neither of you owns for a certain period of time (probably 7 years?) before they pass away then you don't pay inheritance tax. I thought that it was an inheritance thing rather than capital gains but I imagine that you know more about it than I because you are actually doing it?
Caporegime
- Joined
- 11 Mar 2005
- Posts
- 32,247
- Location
- Leafy Cheshire
I'm confused by the size of the extension:
It will mean that one side of the house is longer than it is wide and you will end up with an L shape, given you only have 5 meters between the edge of the east wall and the start of the path and only 15 meters from the front of the house to the back of the garden, how is something that big going to work?
It will mean that one side of the house is longer than it is wide and you will end up with an L shape, given you only have 5 meters between the edge of the east wall and the start of the path and only 15 meters from the front of the house to the back of the garden, how is something that big going to work?
![[TFU] Thegoon84](/styles/overclockers/avatars/6.png){kind=avatar}
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
I still cant see you getting that done for anything like 50k i think me and Dr House use the same builders
Good luck though, great project.
Cheers appreciate it.... I really hope its not as high as you guys have suggested (shivers) You are right with the £1200m2, but thats all in, shell alone i've seen is around £600m2... either way only time will tell. Will let you know the price when i get it.
I'l double check the plans 2nite, its slightly stepped back from the property but is more or less the same size as the current house.
Last edited:
You mean in terms of a bottleneck inside?
Caporegime
- Joined
- 11 Mar 2005
- Posts
- 32,247
- Location
- Leafy Cheshire
Well that could be another factor, but i was thinking In terms of fitting it onto his or his dads land.
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
Sorry guys I was native to think this thread would go into much details was only looking for overall costs of other peoples extensions. I’l get the plans out 2nite and give the exact details.
Caporegime
- Joined
- 11 Mar 2005
- Posts
- 32,247
- Location
- Leafy Cheshire
Was only looking at the available space that's all seems like a tight fit!
Soldato
- Joined
- 21 Oct 2009
- Posts
- 2,742
Capital gains is tax that you'd pay when/if you sell the house in future (assuming that you're getting it for under market value).
Inheritance tax is different, and something you'd have to pay on the property when you inherited it after your parents died.
You getting the house now (7+ years before you'd inherit it due to parents dying) means you avoid having to pay inheritance tax in the future.
The above is just my general understanding of it, and may not be entirely correct
.
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
We’ll lose 85% of the land adjacent to the house and 1m back into the garden.
Deleted member 651465
Deleted member 651465
I just realised you live 5 minutes from my house 
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
I just realised you live 5 minutes from my house
Haha no way!! What street?
EDIT: Better yet whats your name ?
Deleted member 651465
Deleted member 651465
I live in Bryntywod.
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
- Joined
- 17 Jun 2009
- Posts
- 7,089
- Location
- Swansea
Right i feel really stupid now...... I got the wrong lengh.... thought it sounds to long, i must have thought the house as whole!!
The size of the extention is:
4m x 7m!!
.... Please ease up on the put downs 
haha
The size of the extention is:
4m x 7m!!
.... Please ease up on the put downs haha
thats rather cheap, to give you an idea just cutting out the roof on my flat and installing 2 large (4mx2m each) dormer windows is costing me the best part of 45k
EDIT I had not seen the above post.
Last edited:
Caporegime
- Joined
- 11 Mar 2005
- Posts
- 32,247
- Location
- Leafy Cheshire
I thought it sounded far too long, thats more like it!
Right i feel really stupid now...... I got the wrong lengh.... thought it sounds to long, i must have thought the house as whole!!
The size of the extention is:
4m x 7m!!
I was going to say, 30k for the original size was some going
Right i feel really stupid now...... I got the wrong lengh.... thought it sounds to long, i must have thought the house as whole!!
The size of the extention is:
4m x 7m!!
ah ok lol 56m2 is not that big, its still not bad but not huge. To give you an Idea my parents conservatory is 55m2 and that is going to come to around 42k