Can I afford to build?

When taking on a self-build project, one of the first questions you should ask yourself is – can I afford to build?

You may also be wondering how much it costs to self-build and if it’s cheaper to build your own home than buy one. The good news is that YES, it is probably cheaper to build your own home.

According to the National Custom and Self-Build Association, you can typically save 20-40% on self-build compared to investing in a new home. On top of the saving, you can be certain you know the building inside-out and that it has been constructed to a high standard.

How much does a typical self-build home cost?

There is no one answer to this question because of the various factors surrounding your personal financial circumstances, where you live and the type of home you want.

However, based on your personal finances and the funds available through a mortgage, you can decide on an affordable amount.

Calculator on plans

Budgeting for materials

While budgeting for your self build one of the most important considerations will be the costs of materials - which typically may cost about 65% of the total project with labour and professional fees accounting for approximately 35%.

So it's vital to have a good understanding of your total materials cost and to carefully consider the impact the materials you choose can have on the cost of labour to install the materials. For example, are specialist skills required?

Consider whole house kits for cost security

One option, to give you greater security over the costs of your self-build project is to opt for a whole house kit. These kits provide everything you need, can be designed for your exact needs and are built in factory conditions for the best performance.

Not only do you end up with a fantastic home - that is comfortable and efficient - but you have full control over the design and peace of mind about your budget!

Try a kit home manufacturer like Scotframe to help you design your home completely bespoke to your requirements down to the last detail.

New build house

Did you know?

It's also important to think about the costs of materials at the outset vs the cost of the running of your home over the long run. Money invested in better performing materials during your homes' construction can pay back with reduced running costs.

To get help with understanding your complete materials cost - we recommend using a professional and expert Estimating Service such as Build Aviator. Their expert Quantity Surveyors are on-hand at very low cost to provide accurate and detailed materials costing for your bespoke project.

Home being refurbished