Self-Build Timeline – Stage 1, Securing the Land

13/06/2014

A self-build timelineA self-build is a daunting task. There’s a lot of risk, a lot of work and a lot of different stages to go through before you can move into your dream home. To help you focus on your goal and to keep track of everything that you need to do we’ve put together a timeline of all the different stages that you need to complete in order to build your own home.
Arrange a mortgage in principle
The first stage is to find out how much money you will have available to you. Contact different self-build mortgage providers to find out how much money they will lend you in order to complete your build.
Plan budget
Once you know how much mortgage you are entitled to you can assess your other financial assets and set a figure for your budget. Make sure your budget  is realistic and achievable. The main reason for a self-build failing is a poorly planned budget.
Locate potential plots
Now you know what you can afford you can start finding plots. This stage could take a long time before you find your perfect location to build. There’s a huge variety of plots available, some come with planning permission already, some may have a derelict property that will need knocking down before you can start and some may just be plots of land with building potential. Either Plotfinder, PlotBrowser or Plot Search  are good places to start if you’re looking for land to develop.
Assess plots for development
There are a number of things that you need to consider. Assuming the land is in the right location for you, then how you access the plot, available services and likely planning restrictions all need to be considered before you start investing significant amounts of money.
Valuation
Have the site valued by your mortgage provider so they agree that the price is fair and you will get the maximum mortgage for it.
Site survey
Carry out a thorough survey of the site before you purchase so you know about any factors that could cause delays or difficulties further down the line.

Purchase site
Once you have completed all of the above and both you and your mortgage lender are happy it is time to fully commit and purchase your site. Congratulations!
The average self-build takes around 2 years from start to finish, with only 6-9 months of this being on-site construction. It’s not for the faint hearted, but it can be incredibly rewarding. To find out what happens next, look out for the next article in our “Self-build Timeline” series of blogs.

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