Advantages

There are several advantages to self-building your own property such as:

  1. More profitable

You could save yourself up to 30% on market value by self-building (https://www.homebuilding.co.uk/why-self-build-2/). As a guide, when you build a property you should expect to gain around 25-30% equity in your home compared to buying one on the open market. Even though it takes blood, sweat and sometimes tears, there’s not really a more profitable way to move up the property ladder! 

In addition to the increased equity, you will also be able to get a VAT refund on building materials and services used to build your new home (https://www.gov.uk/vat-building-new-home). Furthermore, you won’t need to pay Stamp Duty Land Tax on plots of £125,000 or less (https://www.gov.uk/stamp-duty-land-tax). 

  1. Home can be designed to your needs / wants

Not a fan of compromise? Well, self-building is the way forward! You’re not only able to choose all the finishing touches, but you’re also able to make all the decisions that your heart desires (subject to planning permission)! Want to create a master bedroom walk-in-wardrobe…done. Want to have a large kitchen diner with an island…done. 

As well as making cosmetic decisions, self-building is perfect for anyone with a disability. Unfortunately, most houses on the market aren’t that disabled friendly (doors aren’t wide enough or an upstairs bathroom). Building bespoke is a way to attain a home that meets most, if not all, specific requirements. 

Not only are you able to create a home from scratch by self-building (drawing up plans yourself) but if you have bought a plot that already has planning permission, you are able to change the internal layout. Have a sofa that won’t fit into the lounge as the drawings are currently? As long as the walls aren’t structural, you could just move the internal wall to ensure it fits, or even remove the wall completely. 

  1. Home can have the latest technology

Using the latest technology in a home is so much easier when it can be implemented in the building process. Fancy underfloor heating, integrated stereo system or ethernet points in every room…done! You will be surprised how easy and cost effective these gadgets actually can be. The best thing to do is speak to the relevant tradespeople and discuss what can be achieved with your budget.

  1. Home can be more energy efficient / sustainable

As well as including fancy gadgets in your self-build, you are also able to take advantage of making your home more energy efficient / sustainable. Not only will this be good for the environment, it will also be good for your wallet! By opting for a timber-frame, your home will generally be warmer inside meaning that you won’t need to pay as much for heating. Other options could be choosing to have solar panels, using triple glazing or underfloor heating.

Disclaimer: The information in this website is for general guidance and is not legal advice. Specialist legal advice should be taken in relation to specific circumstances.