Ever dreamed about having a house designed just for you? How good would it be to have control over the shape of every room, materials, fittings and fixtures! You ‘bespoke’ means ‘expensive’ but it might be more affordable than you think… especially when you consider there is no house-builder/developer to take a hefty chunk of profit!
We’ve compiled information from across the internet to give you a brief and concise summary of where to begin and what to expect cost-wise.
Find a plot
Finding a suitable plot is one of the most important decisions in the whole process. Is it near local amenities you require? Is it in a suitable location? Does it already have planning consent? These questions all need to be asked before you consider purchasing it.
There are lots of tools available to assist in finding the best plot for you, these include:-
Financing your self build
Once you have found a plot you’d like to buy the next hurdle is finding the finances required to start the building work. Very similar to mortgaging a house you can get a mortgage for a self build. For more information on self build mortgages see our post – Self Loan Mortgages
What can I afford to build?
Once you have spoken to a selection of self-build lenders you will have a good idea of the budget available and from there you can gauge what you can afford to build. Ensure you make allocations for stamp duty and legal fees (1% on plots over £150k, 3% on plots over £250k and 4% over £500k) as well as around £6000 for connecting to services such as electricity and water.
Jewson offer a useful build cost calculator that gives a good estimate of how much your self build is likely to cost. Here are some of our findings to give you a rough idea of what to expect:-
A good quality 2 storey house 100 m² (3 Bedroom) in Greater London using one main contractor: £172,000. The same property located in the Midlands: £131,400
By project managing the build yourself and using subcontractors rather than one main contractor the cost can be reduced. For the same size property, using subcontractors in London would cost £155,000 and £118,300 in the Midlands. However, this approach is not for the inexperienced or faint-hearted!
Where is this money spent
Homebuilding and renovating give a visual representation of where your money is spent during the building process. This allows you to get an idea of how much funding you will need at a certain point in time as well as putting the costs of things into context. However, this is just an approximation and can vary from project to project. It is vital to draw up detailed plans and cost everything before beginning.
(Source:Homebuilding & Renovating)
Finding the right architect
The key to a successful self-build is good research and planning and it’s wise to get your architect involved as early as possible to help with this. Choosing the right architect for your self-build is a critical first step, but we know that finding the right one can be a bit of a minefield. This is exactly why I set up this website in the first place! Register your project below and we’ll help you to find the right person for your project in no time…
Emily Design for Me