Double up the size of your home for a quarter less than the price of an existing house
Brits who self-build are doubling the size of their homes while paying up to a quarter (27 per cent) less than the price of an existing house or new build, the latest figures show. The Self & Custom Build Market Report reveals that those who roll up their sleeves and erect their own house enjoy significantly more space and comfort of approximately 247m2 versus England’s average of 94m2.
In addition, the same survey, conducted by Homebuilding & Renovating, reinforces the financial benefits of opting for this route, as the significant savings self-builders can achieve through development gains, lower production costs and an element of positive house price inflation are approximately 25 per cent, with the average finished house value being £717,071.
When examining how self builds compare against the average size of homes in the current market, the North East stands out as having the largest dimensions of 373m2, followed by Northern Ireland. Expectedly, London has the smallest average at just 191m2. Based on their UK location, the size is two or even three times bigger than the current or newly built properties.
According to Jason Orme, spokesperson for The Northern Homebuilding & Renovating Show, “Self-builders are making the most of the market as they know the financial and practical results will be more rewarding than if they were to buy a new house. Building your own home allows you to choose its specifications and customise it for your needs. We can confidently say – self builders appreciate their space.”
The Self & Custom Build Market Report 2017, comprising 112 pages can be purchased online via: www.homebuilding.co.uk/market-report, priced at £750 + vat.
The main source of data that this report is based on is an entirely new comprehensive consumer survey of 500 self-builders who had either recently completed or are about to complete their project. This research was conducted via an online survey in 2017. The overall analysis was compiled based on statistics from HMRC, DCLG and more.