Downturn to usher in a 'golden age' for self build

Now could be the best time for people to take on a self build project, according to one expert.

David Snell, author of Building Your Own House, suggested the credit crunch could kick-start a golden age for self build, reports the Mirror.

Describing the economic downturn as the best time to opt for self build, Mr Snell said beginner self builders in particular are perfectly poised to make the most of the market.

"There has never been this much opportunity coupled with so much infrastructure in place to help novice self-builders," he said.

Mr Snell said that even if property prices fall further, self build remains an "attractive option" as the average loan-to-value on funding is in the region of 58 to 66 per cent.

The Home Sweet Home survey conducted by Legal & General earlier this year discovered that many people have dreams of building their own home.

Nearly one in five respondents indicated a self build home would be their dream property.