Building your own home
First Mortgage looks at mortgages to suit everyone, no matter the circumstances or financial situation. This includes self-build mortgages for people wishing to build their own property. This section gives a brief overview of why people choose to design and build their own home and what to consider when financing a self-build.
Cost-effective ways to get your dream home
Not everyone finds their ideal home on the property market. Self-build is a way of getting the exact home you want, styled and fitted to suit you and your family, with the added advantage of massive savings. With a different approach to building comes a different approach to mortgages – self-build loans designed especially for those creating their own home.
Many people see self-build as a niche market and only to be attempted by experts, but with the right support and advice, it can be an option for everyone. Self-building does not mean you have to do the actual building work. Most self-builders are involved in the design and creative aspects of the build, and in choosing the fixtures and fittings, leaving the main build to a contractor.
- Most self-builds, if managed properly, should be worth much more than you pay to build your home. If all goes to plan this means you get your ideal home for a fraction of market prices.
- Building your own home gives you the freedom to customise your house. It means you can combine all the things you like about homes into one building and make it suit you, your family and your lifestyle. It also allows you to be flexible in how involved you are in the project, depending on your skills and experience.
- You can include things in the build that would be much harder or costlier to add into an existing property, such as underfloor heating and energy saving devices.