Build your own home

[Property Admin]

The BBC has a nice little article about building your own home here:
http://news.bbc.co.uk/1/hi/business/4566262.stm

There are a couple of important points that it raises, though:

1. Most lenders will only lend up to 75% of the cost of land and building for a new property;

2. Equity will usually only be released in stages, to pay for different stages of development;

3. If you can manage to self-build, you can expect the property value to increase 30% the moment you put it on the market.

Overall, good reading if you think having a self-build would be a possible option.

I may have to look into this more seriously.

[Jayne]

Do you know of a any sites that will give you a rough idea of how much homes are to build?

Thanks

Jayne

[brian]

I'm afraid not yet - I've seen a couple of builders/developing offering custom builds, but I'll try and bring together what info on this I can as I find it.

[Jayne]

I know about Self Build website, but I cannot find the actual cost of the build and what you get for your money.

Jayn

[brian]

It may depend upon the actual area, developers, and contractors etc involved - but I'll see if I can dig out some general costs that may be useful.

Have you ever seriously considered havingyour own home built?

I'd like to think it would be an interesting possibility myself, but I think the practicalities are going to make it difficult, at least for myself.

[Jayne]

Yes, we did consider it, but it would be a lot of hassle. My Sister has just bought 10 acres and planning has been going 6 months now and still no word. It's a long time to wait, she may have bought a lemon. Very risky buying land with no planning on..lol

Jayne

[MarkD]

Just saw Brians post on Platinax so joined up.

there are various "off the shelf" builders out there such as Pottons, who do build for a fixed price for the design selected.

web site http://www.potton.co.uk/

I also have contacts who may be able to help with self build mortages, this is not my area of expertise, but I think upto 95% of purchase & build costs is achievable depending on individual circumstances.

[brian]

Hi Mark, and welcome to PW.

That's a nice link as well - I wonder if they do work in Scotland?

[MarkD]

In all honesty I don't know if they do build there but I did see the brochure they were producing a couple of years back. They had various designs to select from with prices to build. They do developments for private individuals and residential property development, so anyone who is interested could just ring for a brochure and price list, after all it won't cost anything!

[Jayne]

Welcome mark,

Thank You for the link.

Jayne