Building Your Own House

We are often approached by individuals seeking to find a plot to build their own house. Invariably they start with dreams, but all too often have to temper those dreams with realism, to realise them.

The major difficulty is availability of plots. They are always at a premium. They may also not be in the area, or exact location of choice. Finding a house that an individual likes can be difficult, finding a plot upon which you could build a house that you like can be even harder. It is much easier to find a plot, and then sell the end product to someone else, than it is to find for yourself.

Then there is planning. What you may wish to have built for yourself, and what the planners may allow, may not correlate.

In order to secure a planning consent you will wish to have plans drawn up. Herein lies a further challenge. There are Architects. There are planning consultants. Most will offer both services. But the two disciplines are quite different. Ensuring that you have the most skillfully designed house, utilising the most appropriate materials, drawn up by an architect, and a planner who understands what designs are most likely to receive planning approval is vital.

Budgets dominate. The general rule of thumb is that however much you think a house will cost to build, it will cost you more, so factoring in a contingency of say 10% is wise. Within that there is the materials cost, and what the architect chooses to use will determine this, and the labour cost, the physical cost of the labour to do the job.

This presents two main options. The first is to contract out the work. You invite builders to tender for the work on a fixed price basis. Be aware that they too will factor in a contingency for exceptional costs and will factor in a profit. The downside is that this will cost you- the upside is that physically building the house to specification is someone else’s problem. The second option is to project manage the job yourself. This requires time and expertise, but saves money. Ensuring that the 7am delivery of bricks comprises the right number of bricks, and of the specified quality, is not something which we all innately know. The third option is to build it yourself-not for the faint hearted.

Finally, there is the issue of whether you the sell on the house either immediately, or after a short period of time. The best plots attract premium prices from people who are buying to live there themsleves for many years to come. They will rationalise that overpaying on purchase is irrelevant in ten years time, when they still plan to be there, and buying where they want is worth something to them. Someone looking to trade on will be hardnosed in the equation of land cost, plus build cost, plus margin.

Do not let this put you off! Buying a plot and building your own house can be very satisfying –  but approach the task well prepared.

Gary Longden.