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Self-Build Property Cost vs. House Valuation

  • 08-07-2022 9:02pm
    Registered Users Posts: 77 ✭✭

    Curious if anyone has gone the route of building a house in the past 2-3 years (ideally in the past 6 months) who also had their house valued subsequent to the build being completed?

    Looking at a self-build of €400,000 with a site that was €50,000. We hoped to avail of the HTB scheme, however the rules are that it is not the building cost of the house that determines whether you fall under the €500,000 threshold and is instead the valuation of the property after it's built. We had no intention of getting near €400,000 originally but price of materials and cost per m2 at the moment has pushed the cost of the build way up.

    I'm wondering is there typically much difference between the building costs + site cost and the valuations people subsequently get for their built property? I'm thinking that it's very possible that our build will be valued above €500,000 if it costs us €400,000 for the house to be built and €50,000 for the site.

    The house will be approx 190m2.


  • Registered Users Posts: 507 ✭✭✭mike_2009

    Isn't it more about the price of similar houses in the locality than materials/site cost in the end? I can build the house in two different places in a City and in one it's valued at 350K and in another 650K. The build cost would be very similar in both cases.

    In my case my build cost is above the finished value of the house and the bank will only loan me 80% of the LOWER amount. If I built in a swankier area of the city I'd be ok and only be limited by my salary etc.

    I'd look at the property price register (add VAT) and asking price for houses locally and even chat with an estate agent to see what they think?

  • Registered Users Posts: 81 ✭✭CuriosityKilledtheCat

    It might be an odea to find out who the likely valuer will be and go to them with your plans first and ask for their opinion on completed value.

    Like mike_2009 says in his post, just because the build + site costs will be in €450k region, it is not a given that your completed house will be valued at this level. Depending on other factors it might be valued higher or lower.