Would you start a self build in current climate?

[BuddleiasBeesAndButterflies]

We've had an offer accepted on a house, with a plan to knock it down and rebuild. Since our offer was accepted I've read nothing but news articles on building supply shortages, delays and price hikes. Are we mad thinking of starting a project whilst things are like they are? Any experience of people building much appreciated.

We're thinking of an extension, but are just planning it for now, I reckon costs will come down next year (as did the builder I spoke to)

Could you live in the knock down house for a while to appreciate the plot and decide what you do and don't like about the situation? Then knock down?

We're in the middle of a self build and it's taking a lot longer than we anticipated. From what I'm hearing prices etc are expected to come down again next year. Have you got planning permission yet? Or a builder in mind? If not, it could well be another year before you're breaking ground so might be worth getting started now.

I would absolutely not be buying materials at the moment but if that would be happening in 12 months plus then I'd continue with plans.

Thanks for replies, interesting to hear some builders feel things could improve next year, I doubt we'd be starting to build until next spring, so could be better, but if not we'll already have paid a lot fir the plot by then so would have to plough on regardless. We are in the lucky position of being able to stay in our current house until work is completed which obviously helps.