411homerepair.com

Latest Articles

10 Splendid Ways to Make Your Home Look Irresistibly Inviting

Nothing is more pleasing than having your home looking luxuriously dapper and cosy. However, you do not need a large budget to get your home...

on May 22, 2018

Wooden Creativity: Learn from These 3 Resources and Become a Professional Carpenter

Do you have the conviction that you can work wonders with your hands? Have you been dreaming of creating magnificent structures from wood? Would...

on May 18, 2018

Service of Garage Doors – a Brief and Novel Approach to Repair and Safety

Garage doors come in market with many shapes and sizes. Their individual functions vary from basic security of an area to concealment of necessary...

on May 17, 2018

8 Steps to Making Your Home Energy-Efficient

An eco-friendly home can be any shade of green, from the palest mint to the most in-depth forests. Through adopting some ecologically-friendly...

on May 17, 2018

Add a Deck to Your Commercial Location to Increase its Value

Are you the owner of a restaurant, nightclub, or other commercial location? If so, you may well be looking for a quick and easy way to make a rapid...

on May 10, 2018

Is It Cheaper to Build Your Own Home?

by William Hayes on Nov 26, 2014

Thinking of moving home? Have you ever sat and watched Grand Designs and drifted into a dream about building your own pad? Could it actually be cheaper to turn self-builder than go through the same old house-buying process?

It is estimated that more than a million people in the UK have already started their self-build journey. Regardless of whether you’re starting your own building project or buying your next home, you should consider all the costs involved using an online mortgage calculator.

In 2013, thisismoney.co.uk reported that the average self-build project (including land) cost just over £255,000 (the average house price in the UK at the time was £169,000). However, it’s not quite that simple. Additional costs, such as Stamp Duty, are calculated differently for a self-build property, and you may be eligible for grants and deals, particularly if you are building in energy efficiency measures.

Stamp Duty on self-build properties is on the land and kicks in after £125,000. You’ll also need to factor in building insurance, legal fees, architects, planning permission and contractors – not to mention all the fixtures and fittings you’ll need to buy from scratch.

Don’t forget, you’ll also need somewhere to live while you’re building your dream home – even if you’re content with months (even years!) in a caravan on the building plot, you could still be spending significant amounts of money on temporary accommodation.

The Government-endorsed self-build portal has a supplier’s directory and interactive self-build journey to take you, step-by-step, through every stage of the process from finding a plot in the first place to finally moving in. The journey planner also helps you to make decisions about key aspects of your self-build dream before you start – from deciding whether you’re building alone to where in the UK you want your new home to be.

Financing your self-build is probably more complicated than a straightforward house purchase. Self-build mortgages are available, with the main difference between these and regular mortgages being that they are released in stages, either at the start or end of each building stage. They also tend to have higher charges than regular mortgages. The website www.homebuilding.co.uk is the online version of the magazine, ‘Home Building and Renovating’, and has regularly updated details of the latest self-build mortgages available.

Of course, you’ll save money if you can project manage and do some of the work yourself, but be realistic about what you have the time or skill to do.

So, the question of whether self-building is cheaper than buying is rather like ‘how long is a piece of string’. It depends on the size of the house you want to build, where your plot is, where you are planning to live while you build……but it’s certainly worth comparing costs.

There is a myth out there saying that building your own custom home is more expensive than buying an existing house. This is not always true. In many cases it depends on a home builder. More often than not you can build a brand you home for cheaper than buying a used one. However, you need to make sure you hire an experienced custom home builder who knows how to save your money.

Author

Most Recent Articles

Sponsored Articles

Random Articles

3 Things to Look for in a Plumbing Repair Company

Keeping up with all of the systems in your home can be a very arduous task, but one that is well worth the effort. There are a number of factors...

Hire Contractors / Estimates

3 Different Ways to Use Your Conservatory

A conservatory is a great way to add value to your property and is a fantastic addition to any home. They are so versatile and have so many...

Interior Design / Decor

5 Safety Precautions You Should Know Before Your DIY Home Renovation

Many people do not realize all of the dangers that are present when they take on a renovation project for their home. There are a number of hazards...

Safety / Security

Drywall Repair and Fasteners

Plaster or dry wall is commonly used for walls. Other decorative materials such as plywood paneling, paper, or just paint are used to help the...

Walls / Ceilings / Attics

Top Most Uses of Galvanized Steel

Galvanization is the process by which steel is treated with a rust-resistant zinc coating. Galvanized steel is usually manufactured by a...

Construction / Materials

Actions

Contact Us | Submit Article | 411homerepair © 2018