Last year 14,000 people built their own home. Where should you start if you’re a self build novice?
If you’ve only ever attempted some minor DIY before, the idea of building your own home may be rather daunting.
Prices for building plots are down by around 25% since 2009 and labour costs have also fallen, which is good news if you want to build your own home. But it’s harder to get a mortgage than it was before the credit crunch and there are plenty of pitfalls for the unwary. Moving into a house that’s the result of your hard work (or at the least built to your specifications) is very rewarding, but you have to know what you’re doing and where to turn to for advice if you're thinking of building your own home.
House prices fell in January and there’s speculation that they may fall further. Good or bad news?
The average house costs just under five times the average salary and many first time buyers are unable to raise the deposit they need to get a mortgage.
It was around a year ago that house prices starting rising and much to everyone’s surprise they kept on going. While it was good news for some people trapped in negative or low levels of equity, it didn’t help those who wanted to buy their own home but couldn’t afford it or struggled to get a mortgage. With uncertainty around the election and increased supply due to more sellers, what does it mean for you if you’re thinking of buying or looking to sell?
There are plenty of costly mistakes that unwary buyers can make if they don't know what to look for when buying a leasehold flat.
Have you ever read a lease? If you haven’t, you’re not alone. Every year thousands of people buy leasehold flats without having much idea of what they’re letting themselves in for. In many parts of England and Wales, if you want to buy a flat, the only option is to buy one that’s leasehold. And the lease is the legal contract you sign up to when you buy. Home information packs (HIPs) provided upfront information about the lease but now they've been suspended you should ask to see the lease as soon as you can.
