£4,000 self-built home unveiled

Evidence that self build is more cost effective than buying a home has been provided in the case of a house in Scotland which has been assembled from scratch at a cost of only £4,000.

Software Engineer Steve James of Galloway built his own eco-home at the low cost using materials such as straw bale for the walls, turf for the roof and other items which had been thrown away by other people, the BBC reports.

He told the broadcaster that a three-bedroom home could be constructed for as little as £10,000, suggesting that "85 per cent" of the cost went on acquiring the land.

"Adding the compound interest to the final cost of a mortgage reduces the actual house price component of the total to as little as two per cent," Mr James added.

In addition to the low cost of creating a home, another advantage is the higher value often attached to the end product, Buildstore head of Financial Marketing John Hay has said.

He told the Daily Telegraph last week that such homes can be 25 per cent more valuable than those built by professional firms.


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