Why it pays to Self Build or Renovate
And why building or customising a home is the future of the British housing industry!
The housing market in Britain has struggled to recover from the global economic depression several years ago, and while house building levels have sunk to their lowest point since records began, self build has continued to weather the storm. Self builders provide around 10% of all new homes every year, making them collectively the nation’s largest house builder! And many thousands more convert or renovate a house each year. The industry also enjoys wider support from the Government as it becomes a mainstream method of procurement, with positive investment and land availability high on the agenda.
Specially tailored mortgages such as BuildStore’s staged release Accelerator mortgage and TV programs such as Channel 4's Grand Designs and Property Ladder have all helped to stimulate the market and increase the options and expertise available to anyone wanting to build their own home or renovate a property - whether for profit or pleasure.
>> Find out more about BuildStore’s financing options
Savings and Profits
It would cost less to construct a house from scratch than to buy the same property on the open market. So, for the price of an existing 4 bed house you may find that you are able to build a 5 bed house with the precise styling and layout that you want. Many people have used self build to take a step up the property ladder for this reason, as naturally this means that when you complete your house you will achieve in-built equity should you then decide to sell. In addition you can claim your VAT back on a self build, a substantial amount of money! Renovating or converting a property can also add significant value to it.
>> Find out more about VAT reclaim
Built in vacuum cleaners, streaming your ipod to every room, under floor heating, a roaring open fire in the living room – almost anything is possible with the blank canvas your plot offers you! But perhaps most importantly, in creating your own home you can minimise your effects on the environment. You have the choice to specify better insulation, more efficient (and cheaper to run) heating systems and environmentally friendly materials. Greener living has boomed over the last decade, and there is a humongous range of products to choose from! Not only can you go to sleep every night knowing you’ve reduced your carbon footprint, you can also massively reduce your bills by creating a house with an improved energy efficiency rating.
>> These people all created their own homes
Stress Free Solutions
The self build industry now offers a range of package solutions, kit homes and experienced project managers to help you, so it’s entirely up to you how involved you want to get in your project. Hands-on or hands-off, you can finish up with a home you have designed which has been built with the materials you have chosen! A well planned and run project can result in significant savings and you could have a new home within as little as 9 months.
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