Growing Interest In Self-Build Properties
It can sometimes be difficult to find a home that meets your needs and that ticks your other boxes in terms of location and, of course, budget.
But it seems that a growing number of people are exploring their options for self-building and the rising number of self-build mortgages available is making this a more attractive choice.
Best Advice recently shared figures from Saffron Building Society, which showed that its self-build completions were up by 144 per cent in the first quarter of 2020, compared to the same period in 2019.
CEO of the financial services provider Colin Field said that the firm is “delighted” that there is more interest in self-build mortgages and stressed that it could be a good choice for even more people as we navigate the uncertainty created by the Covid-19 pandemic.
“With the fluctuations in the market, it is a really feasible option for first-time buyers as a complete build will face too many financial changes - just material cost,” he stated.
The news provider cited figures from the National Custom and Self Build Association, which show that first-time buyers could save between ten and 20 per cent on the cost of their home if they self build rather than buying an existing home.
Mr Field also noted that there’s been an increase in the number of people carrying out property conversions as well, in many cases bringing old and unsuitable buildings back into use.
Earlier in May, Mortgage Solutions suggested that those who are just getting started on self-build projects should use the time in lockdown to refine their plans and save some extra money towards the work.
If you’re looking for house architects in Glasgow to help with your self-build project, get in touch with us today.