Take a drive around any modern town and city, and you are likely to find at least one location where new housing is being built. New homes always look great when they are being built, and the show home at the front of the site is well presented in order to sell as many homes as possible.
If this sounds so great, why is self-building becoming more popular?
The biggest issue is that every house looks the same. Both inside and out, if you have a new housing estate being built then you know that each home is going to be almost identical. While this does not seem a massive problem on the outside it does lead to a feeling of cold, almost soulless batches of new houses being built everywhere.
If you feel that way and wish to commission a custom built house, what do you need to look out for?
Obviously the first thing you need is somewhere to build a home. Finding development land for sale can be relatively straightforward, however there may well be restrictions over what can be built on a particular piece of land. Some development land may be earmarked for commercial building, for example, so ensure that buy purchasing land you are not committing to building something that isn’t a home!
At the same time, you may have identified a location that you find desirable, so it may be as simple as contacting local authorities to enquire about the status of a particular piece of land. The only problem with this approach is that specified development land will be earmarked for electricity, water, and other supplies to be connected, whereas by simply identifying your own land you could be giving yourself an additional cost.
What to Pay
Buying development land to build a home should be approached a lot differently to if you were simply buying in order to sell at a higher price, or subsequently rent the land out for another party to build on.
Ideally, you need to keep around 50% of your total budget for buying the land. That may well sound like a lot, however land is a valuable commodity and it will not come cheap. At the same time, that figure may well change based on the size of the land you are buying – for example you could choose a relatively small plot but build a four-storey town house.
Ensure you engage in a thorough process to find suitable development land for your self-build.
Harworth Estates is one of largest landowners in the UK and has quality agricultural, environmental and development land for sale.