BuildStore - self build, renovation & home improvement

Mr and Mrs Scobbie - Conversion with Self Build

Arranging finance was one of the easiest aspects of this self build project – finding the right plot was the real challenge.

alison and andy scobbie from Loughborough had always dreamt about creating their own unique home, but it took them four years to find their perfect plot – a derelict barn and stable block just a few miles from where they lived.

ScobbieThe first move for the scobbies was to sort out their finances to enable them to purchase the barn and fund the building costs. as they wanted to remain in their existing home, and employ a building contractor rather than do the work themselves, it was essential to have cash up front to pay the bills, buy materials and keep the project running smoothly. An accelerator mortgage from Buildstore Mortgage Services was the ideal solution. as alison says: “The first payment got us started and the remaining funds were paid at the beginning of each build stage which meant that we didn’t have to find large amounts of cash upfront, prior to getting sign off for each stage.”

The couple were very keen to ‘go green’ on their new home and employed Carbon Neutral Building – a newly established contractor – to handle the conversion and rebuild with an eye on creating as many energy-efficient systems as possible. they installed a ground-source heat pump and underfloor heating, and had solar panels and a wind turbine built onto the roof.

Although the extra costs for this work put the scobbies over budget, they had very sensibly built a contingency into their initial budget so were able to accommodate the extra spend. What’s more, the money they’ll save in energy bills over the years will pay off the overspend
in due course.

For the scobbies, using a building contractor was a good move. the build took just nine months to complete and went without a hitch. however, it was probably having a smooth cashflow and advance stage payments that made the biggest difference to the couple’s first self build experience. alison agrees: “Not having to worry about finances and being able to keep our young family in our own home during the build was a great weight off our shoulders."

 

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