All over the UK, thousands of people are out there right now viewing properties and sighing with frustration at yet another property that just wasn’t right. It’s a frustration that anxious house-hunters face all over the country. In the face of a severe housing crisis, the UK has many (especially young people) convinced that homeownership will be forever out of reach unless they settle for a property that’s wrong for them. What those people may not realise, however, is that there is another way… self building.
While many may be put off by the huge and ostentatious self build projects featured on TV programs like Grand Designs, the simple truth is that self building is a perfectly viable option for many Brits who are frustrated by the stagnation of our property market. In fact, over 13,000 people decide to build their own house, every year. It’s a prospect that appeals to people from a variety of backgrounds. It’s as appealing to young couples keen to get a foot on the ladder to retirees looking to downsize, or even experienced builders looking for the perfect project. From steel-made Armstrong pole barn homes to tiny one-bedroom cottages, self build properties are a viable option for virtually any budget and taste.
Complete customisation
Everyone wants to make their home their own, but self building enables you to do this literally from the ground up. With developed homes, we pretty much have to get what we’re given, but a self build allows us to construct a home that’s uniquely suited to our sense of style, personal taste and family priorities. You’re liberated from the ‘one size fits all’ mentality that developers are, by necessity, have to adopt and can develop something that reflects you. You can also build to reflect impending changes in circumstances. If you’ve always wanted a walk-in wardrobe… You’ve got one, but if you have a baby on the way you can ensure that they spend their early years in a nursery that’s designed specifically for them.
Cheaper than you may think!
If you’ve ever seen a property show then you’ll know the drama that occurs when a self build goes over budget, but don’t let this put you off. These often lavish designs face a very different set of circumstances and challenges to the average self build. Unlike a property developer, who has to account for a projected profit margin, you’ll be able to get significantly more for your money. It’s one of the few arenas in which bespoke offers better value than pre-fabricated.
What’s more, you’ll likely pay significantly less in Stamp Duty Land Tax as taxation will only be due on the plot of land and not the property itself. You’ll also make significant savings on VAT. New build homes are zero-rated for VAT meaning that you won’t have to pay a penny of the tax on your labour costs. Compare that to a standard renovation and you’ll see how much more you’d be getting for your money.
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