In the United Kingdom, there are twenty thousand people who build their own homes every year. They prefer self building to paying real estate agents to locate pre-built dwellings or paying a contractor to build a home for them that they may or may not have helped design. What does this mean for the construction industry”an industry that depends on people deciding against self building projects? It really more cost effective to build your own house instead of paying someone to build it for you or paying someone to find one that has already been built?
The hardest part of building oneR17;s own home arises from just how much experience the person has with building and whether or not he is qualified to undertake all of the tasks that are involved in building a house. If the self builder lacks the necessary experience in electricity or construction, he will probably have a very difficult time constructing a house that will be safe as well as functional. If the self builder has amassed enough experience in all areas of home building (electrics and carpentry) and he feels confident in his construction abilities, then building his own home and doing the work himself could end up being very cost effective indeed!
When a person decides to self build a home, how does he choose a location? In the event that the self builder is still relatively new to the task, he can save himself quite a large headache by hiring a professional to find a location that is well suited to people who will be building their homes from the ground up. The location will depend largely upon local zoning codes. A professional will know how to help the self builder find the location that is best suited to his wants and needs and will be happy to do so without charging rates that are too high.
Tracking down funding for a self build project will be a challenge. Banks like to loan money to people whose projects are easy to understand.
A regular mortgage is easy to get because the lender understands the concept of buying a house that is already built. With a self build project, the final number is not always known ahead of time, especially if the builder is inexperienced and does not know how to budget for unexpected expenses.
Self building can save a person quite a bit of money if he or she is a qualified construction and electrics expert. If this is an area that interests you, it is something that you should consider pursuing.