How to Create Your Dream Property
We all have our dream property in mind, but itâ€™s not always easy to achieve this goal in reality. With recent figures showing that there has been a further decline in the number of new properties coming on to the market and that many are now selling for over the asking price, is self-build the way to go?
Research from the National Association of Estate Agents (NAEA) shows that many people who are looking for a property are now prepared to pay more than the house is on the market for, simply to secure the right home. In March, 19% of the properties that were sold went for over the asking price. The number of properties that agents are selling has started to rise as well. In March, NAEA branches sold on average 10 properties, compared with nine the month before.
One of the main reasons behind this is the fact that there are fewer properties being put up for sale. Last month this figure declined for the sixth month in a row. On average in NAEA branches, 42 properties were taken on in March, compared with 57 last September. This is almost at the lowest level for 10 years and has been one of the key factors in buyers being prepared to pay more if they really want a property.
Should You Consider Self-Build?
Whatever youâ€™re looking for in a property, whether itâ€™s a landscaped garden, a cast iron balcony or a large family kitchen, thereâ€™s no guarantee youâ€™ll find exactly what youâ€™re looking for. The only way to get precisely what you want, without making any compromises, is to go down the self-build route. This isnâ€™t a choice thatâ€™s right for every home buyer, but it could be the way to create your dream home.
Over the past few years, self-build has become an increasingly popular way for house hunters to get the property they really want. Whether itâ€™s to create something in the right area, at the right price or to the exact specifications, a self-build home could be the answer. However, this is definitely not an easy decision to make and there are plenty of areas to consider before you start.
Where youâ€™re going to build this home is one of the first decisions to make. In order to find the right plot, you should speak with local estate agents, architects and auction houses, which should all have a good insight into whatâ€™s available. There are also websites you can browse through that show land for sale.
Your budget is also a key factor in making a decision on whether to self-build or not. You might have elaborate dreams about creating a large detached property with a cast iron balcony, but you need to ensure that this is achievable. Speak to your bank about how much you can realistically borrow and think about what savings you have to include.
If youâ€™re serious about self-building, then it can be the perfect way of creating your dream home â€” somewhere that you want to live forever.