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Self Build Questions

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  • 23-09-2020 12:41pm
    #1
    Shoden
    Registered Users Posts: 90 ✭✭


    Hi,

    So just exploring the possibility of self building. Is there some lenders that don't give mortgages for self builds?

    Also what is the general consensus on the cost of building at the moment. Because of covid the price of building per square meter seems to be very up in the air. Do people think this is likely to go up or down over the coming months?

    I know I'm asking for speculation in the second paragraph but it is what it is.

    Thanks in advance.


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    #2
    ec18
    Registered Users Posts: 2,702 ✭✭✭ec18


    We went through this with a broker and Ulster bank before Covid happened (and briefly during). In general the trend I found was that if it depends on your situation regarding a place to build. Do you have a site or are you purchasing?

    We were purchasing and the line we got from both was that a mortgage will cover up to 80% of the site cost and 100% of the build cost (subject to CB limits). So for example if you budget 400,000 to include site and build. To keep things simple the Site cost is 100,000 and the build cost is 300,000. The bank will give you 80,000 for the site and 300,000 for actual build. You should also be aware that a bank will not give you mortgage approval for a self build until you have are ready to break ground on the site. So all costs associated with getting to that stage will have to be covered by you out of savings or cash flow.

    Price of building? Speculatively, going to go up as the corona virus isn't going anywhere in the short (or medium term) and as such costs and work practices are going to be different with social distance ppe etc so but how long is a piece of string?


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    #3
    burrentech
    Registered Users Posts: 169 ✭✭burrentech


    Doing something similar myself, have already agreed a purchase price with a seller, but the pre planning highlighted an issue in that they want an archaeological assessment as part of the planning requirements.

    How to I go about finding someone to do this work, the interwebs haven't thrown up anything in the area I am going to be building. North West Tipperary. Will also need recommendations for an architect for an eco home in the area too.

    Thanks.


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    #4
    bobbyy gee
    Banned (with Prison Access) Posts: 1,306 ✭✭✭bobbyy gee


    Cost to build 200k
    Building costs should go up

    It takes 6 months to 9 months to build


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    #5
    Tileman
    Registered Users Posts: 1,136 ✭✭✭Tileman


    bobbyy gee wrote: »
    Cost to build 200k
    Building costs should go up

    It takes 6 months to 9 months to build

    Depends on size if house but 12 months would be a more accurate time scale. Perhaps even longer If its a self build. .


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    #6
    bee06
    Registered Users Posts: 4,514 ✭✭✭bee06


    burrentech wrote: »
    Doing something similar myself, have already agreed a purchase price with a seller, but the pre planning highlighted an issue in that they want an archaeological assessment as part of the planning requirements.

    How to I go about finding someone to do this work, the interwebs haven't thrown up anything in the area I am going to be building. North West Tipperary. Will also need recommendations for an architect for an eco home in the area too.

    Thanks.

    When you find your architect they will usually recommend builders that they’ve worked with before. Get a few responses to your tender from the builders short list.

    With regard to architects we went online and found names/websites where we liked the look of their work and met with them. We decided based on who we clicked with, price and references.


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