Owner & Self Build Tips UK

Owner and self builders are the ideal way to save yourself a lot of money in building a new home in NI. Our owner & self build tips should be ideal for getting you started on your owner build project.

Self-building projects are on the rise in the UK and the practice of self-building involves an individual building their house on their plot of land. The owner builder or self-builder have the option of designing the house, choosing the materials for the build, deciding on the size of the home and every other detail that entails the construction of a home.

If the proprietor has the expertise then he or she can do it all on their own, but there is always the option to hire professional architects, contractors etc manage the construction.
A significant percentage of people think that self-building is an expensive ordeal, but on the contrary, it can be a cheaper option to getting the kind of house design you want but cannot afford it on the market. You can also take advantage of the fact that ZERO VAT is applied only to an owner builder or self-builder. This can give you a significant financial edge when adding up your profits.

The trick is to be your own General Contractor, which allows you to cut out the middleman and reduce the cost of construction. If you have expertise in any of the main construction fields such as electrical wiring, roofing, et al. could save you in upwards of 15 – 25% of the overall costs by doing this portion of the work yourself.

You are able to take out all the applicable permits in your own name and manage the project yourself. You are not required to obtain a licence and don’t need any construction experience to manage the project. Some families have saved over 50% of house construction prices by doing the majority of the work themselves.

Having the cash on hand to buy the land, construction materials, labor, etc is the first tip for success when self-building your home in the UK.

floor plan self build owner home northern ireland

Owner Builder Construction to Permanent Financing

If you lack the money or prefer debt financing, you will have to be pre-qualified for the debt. However, strict mortgage guidelines and a weakening economy are making it harder to find lenders willing to issue money to self-builders. Construction to Permanent Loans for self-builders provides financing for the construction materials, the land, as well as the labor.

In the UK, you will find certain self-building programs that provide up to 100% financing. Land equity can stand in for the money if the lender requires making a deposit. It is good practice to find plans after knowing where you will erect the house.

Budgeting is the next step when preparing to self-build and the bids from the subcontractors ought to guide you in generating the self-building budget. Ensure that you have a comprehensive checklist of all the items you will require in the build and account for every labor aspect. Before closing the budget, ensure that you understand the requirements of making draw request from your construction kitty or loan.

Finally, dedicate at least an hour every day to managing and inspecting the progress of the build. Self-building is rewarding since it ensures that you save money and it gives you a sense of accomplishment. Cutting out the general contractor ensures that you build your home at a wholesale cost.