In this day and age, more and more families are choosing to build their dream home. There are a few factors behind this move away from buying property, but the main reason is that self-build projects are often quite a bit cheaper than buying a house on the current market.
Even though building your own home may work out cheaper, it isn’t necessarily guaranteed to be easier. In fact, there is a lot that you need to think about before and during the entire project. Here are just a few pointers that all first-time home builders need to be aware of.
You Need Planning Permission
Whatever you do, don’t go ahead and start building without getting any official planning permission. All new builds need to be passed by your local council or building authorities. This is to make sure that the building will pass various health and safety regulations and any other location-specific regulations. So, make sure you take the time to apply for planning permission. If you don’t, you could be hit with a huge fine and made to knock down the building.
It Can Be Difficult Funding It
Even though building your own home can often work out cheaper than buying a property, it can be just as difficult getting finance for it. There are self-build mortgages that you can apply for, but these are often harder to get than a regular mortgage for buying a house. Instead, you will probably stand a better chance of getting bridging loans of any other type of finance that you can put up with your current property. Just remember that the better your blueprints and project plans are, the more confident lenders will be in lending to you.
Think Of Resale While You Build
Sure, you are building this new property for you and your family. However, it is also a good idea to consider how easy it will be to sell the house in the future. So, if possible, you should make sure that the design and decor features of the house will appeal to a wider market if the home does ever go up for sale. That way, you won’t have too many problems when it comes to selling it.
Ideally, you should try to ensure that your self-build project is all as environmentally friendly as possible. Not only will this have a lower impact on the environment overall, but a green home can often be a lot cheaper to run for the owner too. For example, a home that is well insulated and doesn’t lose much hot air through the walls won’t need to be heated so much with the central heating, which will drastically reduce your energy bills.
Don’t just go for the first building company you find. Make sure you research all potential hires very well so that you don’t end up hiring some cowboy builders!