In the search for an ideal property to live in, many people are considering a risky, yet rewarding project. The option to build their own home. Now, this is not for everybody as the DIY skills and architectural planning involved are beyond most people’s grasp. Even when hiring professionals, the costs will mount up.
If you are thinking about this challenging option, consider the following.
What are the advantages?
You can build your dream home, with the freedom to add anything that may be expensive to install on an existing property, including environmental and energy efficient features, such as underfloor heating and solar paneling.
The look and size of the home can be built to accommodate your needs. Whether it’s a multi-story brick mansion or a small log cabin, you can build something that suits your budget and family size.
Can I afford it?
You need to plan well in advance, as not only do you need to cover the cost of building the house, you still need to pay your bills and look after your family in the meantime.
A smaller project, such as a log cabin from BuildLogHomes is going to be more affordable and easier to build yourself than something made from brick and stone.
On larger projects, you will need to hire architects, builders, plumbers, etc. Building insurance will also be required.
The costs will rise depending on the size of the home you are building. You need to factor in construction and material costs for each room you intend to create.
Look at the market value of the properties nearby. This will let you know if the plot of land is worth what is being offered by the seller.
You can lend from the bank, but ensure you make a price comparison check on the interest rates being offered.
Where can I build my home?
You can’t lay down your building tools and create a house anywhere. You are going to need planning permission to legalize the construction of your home. Don’t buy a plot of land until you know you are legally entitled to build there.
Speak to estate agents, farmers and land developers, or visit an auction house, to find the best deal and location for you.
Consider your needs when buying land. For example, do you want to live somewhere remote or near a town? If you need to commute to work, you should check public transport options and roadways nearby. If you have children, you will need to build in a school catchment area.
In the same way as buying a new house, consider the scenery outside. Do you want to wake up every morning to the noise of traffic and smoking chimneys? Or do you want to rise to the sound of a rippling stream and a view of the countryside? The land you buy will vary in price according to the environment so that may limit your options.
Don’t be a lone ranger. Speak with those who live with you, and embark on something you can all be proud to call home.
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