There are benefits and risks to building your own house. Some of the key ones are listed below:
Depending on the specification and location of the build, build costs can vary enormously. The cheapest option is to project manage and/or build the project yourself. Data from Potton (2020) found that the average build cost is circa £1500/m2 for a self-managed build, 8-12% of the total build cost for a project managed build and £1800 upwards for a full build out. However, the average return is found to be a 29% uplift in the sale price of the property.
There are several community led housing groups interested in self and custom build in Wyre Forest. These are Wyre Forest Community Land Trust and Wyre Forest Co housing. Both groups welcome new members. Both have websites:
Many mortgage lenders are beginning to offer self-build mortgages. The largest self-build mortgage broker is Build Store mortgage services. Most warranty providers also offer warranties for recognised construction methods, which helps to maintain the properties resale value.
Custom and self-build housing can help meet a need for a type and/or design of housing that may not be provided by major developers in an area. Many people want to design their own homes that are bespoke to their needs. There is lots of guidance and support available and some of these are referenced later in this guide.
Wyre Forest District Council wants to encourage self and custom build. Therefore, there is a specific Self and Custom Build Policy in its emerging 2016-2036 Local Plan.
The Development Control team at the District Council can also offer pre application advice, which can help with the process of submitting a planning application. Information about the Local Plan and the Development control process, including pre application advice.
Many custom and self-builders aspire to build energy efficient and sustainable homes, using renewable technologies. There is a wealth of information available on our community and environment webpages.