The Credit Crunch and Self Build
Build your way out of the crunch?
Whilst the wider housing market is suffering a major downturn, brought on by the credit crunch, building your dream home through self build, renovation or conversion is becoming a more appealing and realistic option.
At a time when housebuilders have ‘downed tools’ and the Government’s new homes targets are under threat, self builders and renovators are taking advantage of the increased availability of land, labour and specialist advance payment mortgages.
BuildStore, the self build and renovation experts behind the National Self Build & Renovation Centre, are the leading providers of self build and renovation advance payment finance, and also own the land-finding database, PlotSearch (www.plostsearch.co.uk).
BuildStore recently revealed that the number of self build land and renovation opportunities had grown significantly in 2008, up 20% between January and June, and over half of available self build plots are priced £150,000 or less; a third of them £100,000 or less, making it possible to self build a detached family home for less than £200,000.