DIY Home Builds On the Rise

A fall in house prices is leading to a boom in the number of people undertaking DIY home builds, it has been claimed.

This Is Money reports that, with the average price of a plot falling from £199,000 in 2007 to £125,000 today, 20,000 new projects are embarked upon every year by people keen to create more than just a new kitchen or bathroom extension.

Therefore, the publication has offered a few tips to anyone who may be considering going it alone and building their dream home from scratch.

One of the key considerations is getting the budget right and knowing whether costs will be paid upfront or in arrears, the news provider stated.

It is also a good idea to keep a contingency fund of around 15 to 20 per cent of the projected cost in case of unexpected extra expenses.

Having a trustworthy team of builders and architects is also vital.

It was claimed earlier this month by Jason Orme, editor of Homebuilding and Renovating magazine that self builds are a "smart and affordable" way for people to get on the property ladder.

Posted by Tom Homer