Self Build... where do I even start?

katmcleod

We're trying to plan for the future just now, find something to aim for.

Building our own house is a dream we thought would be reserved for much much later in life, but reading something totally unrelated it said self builds cost on average 1/3 less than buying an equivalent house from a developer.

So is it possible for a first time buyer to start with a self build? Would we need a huge deposit as opposed to buying a ready made house?

Had a read through BuildStore but anyone who can give me any advice, tips or warnings would be much appreciated.

I don't really want to speak to a lawyer or bank or anything at this stage, we just want a goal for our deposit savings etc.

mark5

You do need a big cash deposit because banks will only release the mortgage funds on completion of each stage.

Where I live the plots of land available seem expensive compared to what the house would be worth when finished.

benood

There's a great book you can get - the housebuilders bible - have a google.

Colincbayley

katmcleod wrote: »

We're trying to plan for the future just now, find something to aim for.

Building our own house is a dream we thought would be reserved for much much later in life, but reading something totally unrelated it said self builds cost on average 1/3 less than buying an equivalent house from a developer.

So is it possible for a first time buyer to start with a self build? Would we need a huge deposit as opposed to buying a ready made house?

Had a read through BuildStore but anyone who can give me any advice, tips or warnings would be much appreciated.

I don't really want to speak to a lawyer or bank or anything at this stage, we just want a goal for our deposit savings etc.

I've compelted a self build a few years back. It is Bl**dy hard work, even if you get a builder to do the building.

Get a copy of the housebuilders bible and read it ( twice )

Even with finance you are going to have at least a third of the total cost in cash.

Approx build costs ( Which will depend on the finish you want ) are approx £1000 - £1500 per Sqm and can go up to just about any figure you want.

Breakdown of costs ( Again approx )
30% (Plus) for land
30% Build
30% Interior

It will always cost more than you budget for

Mrs_Imp

We got a mortgage for a self-build that paid us in advance of each stage, so it is possible to do without huge pots of money. I seem to remember that we had to take out insurance to go with it to cover the mortgage should things go wrong with the build.

As first time buyers, we were really hoping for a self-build as we were fed up with looking at houses that didn't fit our requirements.

Alas our purchase on the land fell through

Doozergirl

Recommend the Housebuilders bible as well.

And get yourself a subscription to Homebuilding and Renovating magazine. I have four years worth stockpiled and always refer back for inspiration. You have other people's projects and how much it cost them to refer to, see what is popular currently in terms of build routes, energy saving measures etc and lots of Q&As - you start to build up a picture in your mind on how you're want to go about it and what your own house would look like. The H&R shows are great as well for having all the suppliers in one place (big one is at the NEC in April time?) and you get free tickets as a subscriber.

I've got a good idea of my house in my head and know everywhere to refer back to when one day we design it. When we finally go for it with a brand new house of our own I shall take a pair of scissors to every one of my issues and build the picture quite literally for the architect

It's so incredibly important to get it right and it's very hard to do so. I've lived in and renovated so many houses that my picture becomes clearer each time - what works for us, what doesn't. Why it's important to do things well, once. Why I actually do want a South or West facing garden (evening bird that I am) and why wooden worktops and shiny floors are a royal PITA. No doubt that the design stage is the one that should probably take the longest!

Even my house now is a labour. We've been here renovating it for two years and I change my mind a lot. We still haven't done absolutely everything and I've redecorated and refloored downstairs twice since we've been here.