Self-build homes are becoming a popular choice for many home owners. But how do you know if it is right for you and where do you start?
Self-build is a great way to create a home that is tailored to your own individual needs and desires, without having to pay for expensive custom builds. Building your own home also allows you to save money by taking on the majority of the work yourself and getting exactly what you want out of your own home, whilst another perk is the ability to claim the VAT back (yes, keep all those invoices and receipts!).
When it comes to self-building, one of the most important steps is finding a suitable plot of land. This involves researching local building regulations, finding a plot that meets your needs, and ensuring that it has the necessary planning permission, access to services etc…
This can be challenging and time consuming (but of course fun as you begin scoping out opportunities). PS: Our team at Millen are always on hand to help with any advice or questions you may have around this process. We also ear mark a number of our own developments to sell off as self build projects, so we often have something in the pipeline or will happily keep you updated on any future projects if you wish.
Once you have identified a suitable plot, you can then begin designing your own home to suit your lifestyle and budget.
Can I afford to build?
I think a lot of people assume building their own house is out of the question (and we have all seen the nightmare journeys some poor souls go through on Grand Designs) but it really can be a lot more attainable than we initially think.
Having actually been through this process myself, I can relate. With an interior design background, I had designed our house to every last "perfect" detail... but in reality our budget didn’t allow for the £30K+ kitchen of my dreams, because when faced with the decision we chose to compromise in order to stretch the budget to complete other areas (oh, and our entertaining space is still a work in progress!).
But if you are willing to be flexible and have some fun then this process is for you. I actually love that I still have ongoing projects around the house and with family life ever adapting and evolving, our needs and brief has already changed. Anyways, I’m sure you can probably tell (even though very brief) that I very much enjoyed the process and would do it again in a heart beat. But ask my hubby the same question and you may very well get a different answer! 😆
Obviously, only you know your own finances but there are means out there that encourage and support self-build projects. Financing these projects can be a challenge, but self-build mortgages can help provide the necessary funds to get started. Self build mortgages are specially designed for those who want to finance their own home building project - they offer competitive rates and allow individuals to borrow up to 95% of the cost of the project. The process is often simpler than a traditional mortgage, with fewer fees and more flexible terms.
Whether you're looking for an alternative way to finance your dream home or just want more control over your building project, self-build mortgages can provide you with the necessary funds and peace of mind.
How much does a plot cost?
When it comes to plot prices they can vary incredibly. It is very much dependent on the area you’re looking to buy in, the size of the parcel of land and what has already got planning to be built on the land.
An important point I'd like to mention here is that we would strongly advise against purchasing a piece of land without any sort of planning permission or certainly without seeking advice from a planning specialist (like ourselves 😉).
As we have said before, the planning system is incredibly unreliable and turbulent with no guarantee of planning, so ask yourself if you are prepared to take the risk before jumping head first. Make sure the permission is still in date and if you plan on making amendments to the design, check that there are no obstructions laid out in the planning permission to stop you from doing this.
Purchasing a self build plot
The purchase of a self build plot is similar to that of buying a house but more complex as it involves more due diligence, searches, registering titles etc…
Once you have found the perfect and purchased the plot, you can begin planning your dream home.