Self Build HomesOver 5 million people watch Channel 4's Grand Designs every week - when it's on - but only 15,000 people a year are brave enough to actually go ahead and build their own home from scratch or carry out a major renovation or conversion. The key reasons why people don't take the self build option are:- All of these are rarely true. Some people (even now) are self building on budgets of £100,000 or in cheaper areas for less money. Affordability of Self Build Many still believe that you have to have the cash to build a property, so think you have to sell your home, move into a caravan and then build throughout a freezing winter! In actual fact you can now secure funds based on the equity in your current home, live there while the build takes place and then when it's ready to move in, you sell your old home and can remortgage as you would do normally! Think Renovation is Easier than Self Build Self Build is far easier than renovating. As long as the property is built on land that already has utilities connected to it then they just have to be connected up and the property built. You know everything about your property's construction, can decide whether you want partition walls or brick built for noise reduction. Subject to planning regulations the room sizes can be of your choosing as can the layout. Neither of these is rarely possible with renovation! Timber frame self build kits mean that you can build fast and furious, standard properties can be built within six months and means that 40% of your costs can be fixed from the start. Does Self Build Have to be Self Built? Typically the costs of a self build are broken down as follows:-
So on an average build cost of £300,000 the labour would be around £75,000. Self Build Extra Checks 1. Speak to an experienced IFA to find out how much you could afford. Free Property Articles |
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