Creating your very own self build home is a great way to own a home that is perfectly tailored to your needs and your requirements. It cuts out the compromise, or sacrifice that you would have to make in a used home – small kitchen? Not a big enough dining room, open plan area? If you’re very particular and ready to take the dive into a self-build home investment opportunity, there are quite a few options available and you need to know which one suits you best.
Although the end goal of self-build home looks amazing, and everything you expected and more in your new home, it’s not something that happens overnight, and it’s much better to take the slow, practical route, than the rushed one.
So, you already know what kind of home you want to build? A low maintenance, low energy home with a contemporary design with an open plan, plenty of rooflights and latest technology? Awesome, this is a great start but that’s the easy part. Throughout this article we’ve listed some of the most important things you need to consider, and we’ve also thrown in a couple of tips here and there to kickstart your inspiration.
Remember, a self-build home requires careful consideration and planning, so before any work begins and you’re calling contractors and builders, you need to produce a solid plan that will work first.
Contents
What Is a Self-Build Home?
Build it, which is a self-build and renovation magazine, describe a self-build home as:
“Self-building is the act of commissioning a bespoke home that is tailored to your design requirements and suits your lifestyle, along with your budget.”
How Much Does it Cost?
This question varies depending on your requirements and the size of the home you would like to build. The simplest way to calculate the cost of building your own home, is to look at costs per square metre. This means, the bigger you want your house, and the floorspace within it, the more expensive it will be. It’s estimated that this year, in 2020, it costs around £1,800 – £3,000 per square metre. If you already have a budget in mind, this will give you an insight as to what size home you can potentially build. If you don’t have a starting budget, spend some time looking at costs to get a proper idea of the size of your intended build. You’ll also need to look at additional costs that we’ve listed below, so don’t forget to consider these too.
- Additional 15% for the cost of building professionals (builders, architects, plumbers, electricians, etc)
- Further 10% in contingency which should protect you if problems arise and something goes wrong
As a guideline and estimation, we’ve included some figures below for self-build homes in the UK.
- 2 bedroom self-build home – £180,000 – £280,000 (est)
- 3 bedroom self-build home – £240,000 – £360,000 (est)
- 4 bedroom self-build home – £295,000 – £440,000 (est)
- 5 bedroom self-build home – £315,000 – £470,000 (est)
Various Self Build Routes
There are quite a few self-build routes that you can take to kickstart things with your new home, but as we mentioned earlier on in this article, you need to make sure you choose the right one for you.
- Self-managed– This is where you self-manage the project, and employ multiple sub-contractors
- DIY– This is an option for those looking to carry out a lot of the building tasks by themselves, this way they save on time and costs
- Professionally managed– Work is carried out by a main contractor, so you don’t need to manage the sub-contractors
These are the main things to consider when you are in the beginning stages of building your own home, the design element and build will come into play once you’ve had consultations with builders, designers and architects who are able to bring your vision to life. See below for a brief schedule and checklist – print this off and use it as your self-build home progresses.
Phase 1 – Planning
- Determine your budget– you need to know your current finances before progressing any further with building your own home
- Arrange a mortgage in principle
- Research potential plots- choose one that fits your size / location requirements
- Arrange valuations & surveys – Review the plot you’re going to purchase, get a valuation and a site survey carried out
- Purchase the plot – Once you’re happy with the plot, and the valuation, you can purchase the plot ready for your build
- Determine what self-build routeyou’re going to go down
- Research site insurance
- Research builders, designers, and architectsto work on your project
- Work with architects to draft designsof your home
- Apply for planning permission
- Apply for approval of Building Regulations
- Main contractorand builders have been selected
- Relevant site insurances and warrantieshave been put into place
Phase 2 – On Site Preparation
- Create site access– ensure main contractor and sub-contractors have access, think about parking
- Follow the site plan – set up land in accordance with the plan
- Set up electricity and water services– these will be used temporarily for key workers while the build progresses
- Storage units– purchase temporary storage services – for materials and tools
- On site office – install on site office for main contractors, project managers
- Mark out foundations – before the initial build
Phase 3 – Building Commences
- Leave it to the professionals and watch as your new build home turns into reality
Of course, as the build progresses you will have to overview it or have as much involvement as you would like – but the hard work for you is finished.
Creating a self-build schedule can help greatly to give you a better idea of what to prepare for and when. In the meantime, you can witness the home of your dreams being built to your exact specifications!
