We’ve all dreamt of designing and building our home, however, getting your head around the whole process from financing the build, finding somewhere to build, and then actually building it can be a daunting prospect.
The majority of the 25,000,000+ homes in the UK were delivered by Developers or major House Builders, with over 150,000 homes completed in 2015. Approximately 10,000 homes are considered
‘Self-Build’ – effectively a home built by, or on behalf of, the land and home owner.
When planning a self-build there are numerous considerations to be made, mostly subjective to your circumstances. Building your own home will probably be the largest financial commitment you ever make, so you can’t skip a step or ignore details, however minor they may appear.
Your finances are two-fold and should be split, as an absolute minimum, into the Feasibility Budget and the Build Budget. The Build can be further broken down; again, not exhaustive, with an overflow budget, contingency fund and considerations to reclaiming VAT. (Overflow is increased costs originally included within your Design; Contingency is unexpected costs not considered within your original Design.)
The feasibility element includes a lot of your time (discussed further in Resource), however, unless you are purchasing a plot of land from savings, with Planning Permission and a Design you are already happy with, there a number of costs. Your Feasibility Budget will predominantly consider fees and services.
Solicitors or estate agents when purchasing land; architects and engineers when designing; Financial
advisors aren’t free either. Your Build Budget should be broken down with a Cost Sum Analysis. Put simply, you need to think about the Item which incurs cost, how it gets to site and the costs associated with installation. As a working example – a kitchen will include the cost of services, appliances, cupboards and more; you are likely to spend time visiting where it is sold/designed; you will need it to be delivered and you need it to be installed; you’ll also want to insure against theft or damage during transit, whilst on site or whilst being installed. Now this is just one element… when you think about a whole house the costs add up!
There are 7 key areas which must be considered when planning your self-build: Finances, Land, Designing your project; Planning, Resource materials and labour, Project Management and Risk Management.
– Project Management;
– Risk Management.
Before you lay the first brick, make sure you & your project is protected:
Self-Build Zone, the sole provider for NHBC Site Insurance and 10 Year Structural Warranty for self-builders, can provide cover for anyone starting new building works, as well as any existing structures on site. Our Approved Inspectors can facilitate all survey. Pro
For more information or to obtain a quotation go online at www.selfbuildzone.com or call the Self-Build Zone Team on 0345 230 9874.n completion, Build-Zone can provide you with a 10 Year Structural Warranty.