Is now a good time... Building Your Own House

Thrugelmir

HAMISH_MCTAVISH wrote: »

It's a pretty simple situation.

Fact: Land is cheaper now than before.

Is it?

House prices are rising but construction costs haven't.

PasturesNew

If there were two identical plots side by side, bought by two people like yourself, who each put in for PP on the same day for a pair of 2-bed semis, you'd both have entirely different outcomes.

Whether now is the right time to do it will depend on many factors, including your design, your budget, your project management skills on keeping to time and budget, your research skills so you're building the right house, your procurement skills ... etc etc. Even down to the final choice of how you'll sell it, choosing the agent even.

It's a myriad of forks in the road.

Two houses side by side, built by different people at the same time, one could fly off the shelf and the other could sit there like a dead duck for years.

Conrad

OP - you refered me to a link with a 90% offering with Ecology BS. Thier packages are for a select client band, and require the property to exhibit stirngent green / ecological / sustainable credentials.
Possible, but very unlikely to be available to a typical self builder. The additional 'green' costs would likely render a single dwelling develpoment profitless.

Best of luck, I'm not being negative.

[Deleted User]

Conrad wrote: »

OP - you refered me to a link with a 90% offering with Ecology BS. Thier packages are for a select client band, and require the property to exhibit stirngent green / ecological / sustainable credentials.
Possible, but very unlikely to be available to a typical self builder. The additional 'green' costs would likely render a single dwelling develpoment profitless.

Best of luck, I'm not being negative.

I just pulled one straight from Google as a matter of quick reply... I think you'll find you can get 95% of build and land costs... self build mortgages are a lot more generous than a buyers mortgage...

Thrugelmir

[Deleted User] wrote:

I just pulled one straight from Google as a matter of quick reply... I think you'll find you can get 95% of build and land costs... self build mortgages are a lot more generous than a buyers mortgage...

I'd be very suprised if this was the case. :rolleyes:

Conrad

[Deleted User] wrote:

I think you'll find you can get 95% of build and land costs... self build mortgages are a lot more generous than a buyers mortgage...

Let me know when you find 95% of build and land costs!

lostinrates

[Deleted User] wrote:

I just pulled one straight from Google as a matter of quick reply... I think you'll find you can get 95% of build and land costs... self build mortgages are a lot more generous than a buyers mortgage...

We haven't found this is currently available at all, in practise, though happy to be proven wrong.

bo_drinker

Everyone and their dog here wants to get builders "cheap". If you pay peanuts you will get monkeys, okay builders are not as busy as they were but why do people expect the same back breaking job for a lot less money. You may get a rushed job if you expect to get cheap even if they are good.
The man in the street in his 9 to 5 job in his heated office and his four weeks holidays a year paid would throw teddies a mile if he was expected to take a pay cut so why do you expect your builder to take it on the chin. Anyone who tries to take the pi55 deserves to get ripped off.

chucky

Graham_Devon wrote: »

Personally, for me, I'm pessamistic, and this wouldn't be a gamble I personally would be willing to take, as you are going to have to build and sell a few properties to then go on further to build another, that one being your home.

seeing that Graham disagrees on the investment part of this must mean 100% that is actually a good investment.

if you can buy land this is a no-brainer, buying decent land is the problem - in the long term land costs aren't going to be cheap.

rictus123

I think this would be a perfect investment at this current time. Im a bricklayer and next year my time will be out and il be looking into simular projects once i get some funds together. Id say go for it, this is a risk but i think its one that would pay off. Do you know much about the ins and outs of building a house, from start to finish?