Have you ever considered buying a plot of land, then designing & building your own property perfectly tailored to your wants & needs?
As an avid Grand Designs viewer this has always been a huge interest area for me and I’m still convinced that at some point in the future I’ll be ready to get my hands dirty and put our own perfect paradise together from scratch.
That said, now might just be the time for some of us to take that plunge. In the current market, it is becoming a more and more practical decision to consider taking on a self build project…
The ‘Right to Build’ Act
On the 1st April 2016 the government passed a new piece of legislation which makes it easier for those looking to build their own home to find suitable land; the Selfbuild and Custom Housebuilding Act (AKA the Right to Build Act).
This act essentially spreads the playing field and ensure that local councils are now obligated to offer suitable, serviced plots to those who register their interest in acquiring land on which to build their own home.
However, despite this avenue becoming available it’s clear that we need to make further efforts to raise awareness of the new opportunity to the general public.
NaCSBA Chairman, Michael Holmes, said: “The success of the Right to Build Policy initiative, and the delivery of land to meet the huge pent up demand, depends on the registers. The research shows that 77% of people aren’t aware of the registers, nor what their success means to creating better new homes – this figure needs to change.”
This shift could even open up brand new avenues for our groups of mortgage misfits as the lending application process for self build projects differs greatly from that of your average mortgage application.
The below infographic from IBS details some interesting facts about the current portion of the UK market who are expressing an interest in self build projects:
Have you ever thought about taking on a self build project? This post offers some interesting insight into what steps are required to get the ball rolling…