How To Save Money
On Your Self-Build Project
about what you can achieve with the funds
you have.
Every item and issue that adds complexity
to your project will translate to more
money. For instance, vanity items like
chimneys will set you back thousands of
pounds, while simultaneously reducing the
amount of floor space you've got to work
with and potentially costing you more in
long-term heating costs.
Self-build projects offer unparalleled
Overconfidence: Even if you're a builder in
freedom to create the home of your
your day job – don't assume you'll be able
dreams. However to ensure you make the
to make all the correct decisions from the
most out of your self-build budget it’s
get-go.
Hidden Extras
Don’t forget to think about structural
defects insurance before planning your
self-build. These kind of costs may be
essential to learn about where you can
overlooked by a first-timer when initially
make cost savings. In this guide, Steve
There's a trade-off between taking
Mansour from specialist structural defects
the reins on the project and hiring in a
insurance supplier CRL offers some cost-
specialist manager in terms of both time
saving tips for self-builders.
and cost.
Concept
Planning
The planning stage is vital in determining
Cost and time overruns will occur on your
defects insurance from a recognised
the overall cost of your budget and for
project and the quicker you resign yourself
provider before they release funds for
those operating to a tight cost margin, is
to that, the better. However, the chances
a property purchase, both when the
undoubtedly the most important step.
and severity of these can be greatly
property is brand new and if it’s less than
There are numerous factors that'll serve as
mitigated by putting in your due diligence
10 years old.
multipliers for the cost of your self-build
during the planning stage of the job.
project, including:
planning a self-build project. It’s important
to consult an expert to go through the
ins and outs with you so you get the best
possible value from your insurance cover.
UK mortgage lenders require structural
At the same time a new home is normally
A great deal of money can be saved by
the single largest investment in a person’s
Location: Unsurprisingly, where you
comparing materials and services, so
life. Structural defects are not common,
choose to situate your self-build property
before you get started – be sure to break
but they can be expensive. A recent study
will have reams of ramifications, ranging
out the spreadsheets and compare a range
claims it costs £42,000 on average to repair
from the price of the plot, to the cost
of quotes.
a structural claim so it pays to be properly
of connecting power and arranging
infrastructure. Rural locations can come
with their own challenges, such as
planning constraints, local tree or wildlife
protection orders and access to roads.
Scope: Similarly, you may have had your
eye on converting a dream house, slotting
While you may find fancy features or
materials desirable, it's important to shave
as much money off the basics, like bricks
and roofing, before moving on to the more
advanced areas.
protected.
More information
CRL does not shy away from arranging
insurance for unusual projects, covering
new builds, complete or partially
completed builds, timber frame
Complexity
into a plot adjacent to an idyllic village or
Doing the simple things well will always
powering your home almost entirely by
trump outside-the-box thinking when it
renewable means.
comes to self-build. While you may have
been inspired by the marvels on TV shows
like Grand Designs try and be realistic
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constructions, prefabricated properties,
mixed-use projects, conversions and selfbuilds. To find out more about how we
can support your self-build please visit:
www.c-r-l.com