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 one'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!
How does a person choose the best location on which to build his or her new home? If you are new to self building, it is probably best to spend some extra money and hire someone to help you figure out which location is best for self building. This can depend on what kind of lot you want, and it can also depend on local zoning codes. A professional builder will be able to help you find the land you desire without eating up too much of your building budget.
Finding funding for a self build project will be challenging. Lending institutions like to fully understand all areas of a project before they agree to loan money for that project.
Qualifying for a mortgage loan or a loan for a contractor's estimate is easier because all areas of the project will be well defined. With a self build project, the builder might not know ahead of time how much money she will need to successfully build her home. Find out if your lending institution funds self build projects. If they do not, they might be able to recommend an institution that will loan you the money.
Self building can save the experienced construction and electrics expert quite a bit of time and money when it comes time to find a new home. It can also be a fun and exciting project for those who enjoy building and electrical projects.
About the Author:
Tal Potishman, editor of Heating Central, writes articles about efficient heating, boilers, Southwark plumbers, underfloor heating and solar thermal. He specializes in helping save money by advising on efficient heating.
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