There are a number of areas you need to consider before you build as an investment, such as planning permission, restrictions on what you can do and the possible tax implications you could face if you sell, writes David Lawrenson.

But, it's not as out of the question as many might think.

And if you don't have a suitable garden where you can build, you can look to find land with planning permission.

It used to be the case that if you could find a plot of land and then build on it you would save somewhere between 25 and 35 per cent on what you would pay for a property that was already built.

As land prices have risen, those sorts of gains have come under a bit of pressure in recent years but there is no doubt that you can still make money by buying land and building on it.