Many people, from couples to singletons and families, can spend years looking for that perfect home. Sadly, the reality of the situation is that it doesn’t always exist. More and more people are turning to property development, in order to construct that dream home of theirs. And it’s not hard to see why!
You can have that grand design you’ve always wanted, free from the trappings and limitations of ready-built property. Self-building can also be a way around many other problems, including lack of housing supply. You may want to move to a certain area, but there may not be any suitable houses for you to inhabit.
So, how does the self-building process work? As expected, it’s quite complex and is never easy. That being said, you aren’t alone. Around 10 percent of UK homes are self-built, as are 50 percent in other European countries. So, if you’re still on the fence or are ready to move, here’s a quick guide to constructing your very own dream home.
Step 1: Find some suitable land
It goes without saying, but you’ll need land to make that build happen. You can check if there is land available using a variety of tools, so they’re worth a look. Other services let people advertise plots of land, so have a browse of your local area and see what’s available. Estate agents and other property consultants will also be happy to help you, so consider enlisting the help of a professional in your search.
That land has to be suitable, too. Think about your finished home being there. Could you live here? Is is a noisy or busy area? Like when buying a regular home, take into account all external factors. The National Self-Build Association can help you out if you’re ever struggling for a location.
Step 2: Plan, design, and plan some more
This isn’t your high-school class project. You’ll have to put a lot more than six hours into the planning of your dream home. There are so many parts to consider, from plumbing to a garden, and it can become overwhelming.
Firstly, consult with a building rendering provider. They’ll be able to provide you with 3D renders of your dream home, so you can see what it’ll look like. If you aren’t happy, change it or make revisions. Try different things with different rooms. After all, you’ll only be doing this once. Hopefully.
Step 3: Get a mortgage
Self-building isn’t a million miles away from buying a house in this regard, as you’ll still need a self-build mortgage. Some lenders can be tough to sway on this prospect, so shop around. Some lenders don’t even supply self-build mortgages due to lack of demand in recent years.
This kind of mortgage is different from a regular one, though. For starters, it’ll be released in stages rather than a lump sum. This is to ensure you don’t run out of money for the duration of the build. Mortgage brokers are likely to be your best bet, as they’re notoriously more lenient than major banks.
So, if you followed these steps, you should be well on your way to a dream build! Whether you’re a Grand Designs junkie or a creative genius, there will always be a way for you to build.