Is this a realistic self build budget?

[Irishstout]

Hi all,

I'm just wondering if we're being completely insane. We're drawing up for outline planning at the moment, want to make sure we can get something before spending £££ on full plans.

We have savings of around 80k. Can we build a house for that? We're thinking very simple rectangular shaped, possibly steel or timber frame. We have a digger that we can use to do a lot of the foundations with (understand this may need to be tidied up by a pro). We have friends in trades who will help with bits and DH is a very practical sort. We're happy to put in a second hand kitchen and bathroom, use standard windows etc.

Am I dreaming that this would be enough money?

Your PIL are very out of touch I’m afraid. You also need to factor in all the electrics, heating and hot water, plastering inside, rendering outside, windows etc on top of the cost of the shell cost. Connecting to the services that are there is also expensive - our neighbour is going to have to pay about £1000 to move and reconnect an electricity supply whilst he demolishes a house and rebuilds.

However, there was a Grand Designs programme that followed an Architect in Ireland building a home using shipping containers relatively cheaply so you could have a look at whether that type of thing would be doable or acceptable from a planning perspective?

There’s a book called the Housebuilders Bible that breaks down steps and stages with costs but it goes out of date pretty quickly - especially now. Have a look on self build forums and ask there too. There may be people who have done alternative build methods who can give you a better estimate of what you could achieve.

I’m a QS.. steel is going up by the day. I think honestly with the cost of materials at the moment,+ a labour shortage, cost of hiring plant… I can’t see it happening. Baring in mind cost of things people don’t think about like connecting utilities to the property can easily be a grand a meter for the pipe work. So say you need to hook it up to gas, mains water, mains sewerage and need trunking for electric cables… say 5 meters each to get to the mains, that’s £20k before you’ve done anything else.

My garden room cost £17k. One room

So I’d say…. No chance

I’m getting towards the end of my build.
My budget and contingency’s blown due to planning delays, covid, useless utility companies and rising costs of materials - and that’s with a contract with my builder. No solid gold loos here; just (mostly) unavoidable issues.

If you’re going to do it, look at kit houses / single storey. You need stable, fixed costs.

Contracts with reliable trades - don’t fuck around trying to do things you’re not competent to do. All stages of work will need sign offs for building regs and insurance.

If you do get a self build loan, check what you need re insurance and warranties. Don’t skimp.

You need a (several) spreadsheet to work out all fixed costs.
Don’t guesstimate. Be realistic.

Please don’t rely on goodwill from friends.

Look at £100k house series. Some good practical advice with a sprinkle of outside the box / frugal design.

OP, if you haven’t already I recommend you watch “The house that 100k built”. If it’s not on iplayer anymore you might be able to find it on YouTube. Bearing in mind it’s a few years old now, I think it’s great to show you the reality of building with a very limited budget.

my news extension (currently being built) has cost 55K and its single storey, so you may struggle.

*new extension!

The House that 100K built

I forgot.

To keep costs down, ask builders etc…

• if you can buy materials yourself. You need to be on the ball with this, as delays in sourcing stuff costs time = £. They might be abalone to source stuff cheaper, but…
• check how trades are accounting for their profit. Some add on 20% on top of work and materials sourced. You would need them to give you a fixed profit amount, rather than profit on % spent. This way you can change your mind about materials without it affecting your total build cost.

No. It isn’t likely. We are currently going through a remodel/extension process with our architect so I’m very aware of current costs.

@AuntyFungal

I forgot.

To keep costs down, ask builders etc…

• if you can buy materials yourself. You need to be on the ball with this, as delays in sourcing stuff costs time = £. They might be abalone to source stuff cheaper, but…
• check how trades are accounting for their profit. Some add on 20% on top of work and materials sourced. You would need them to give you a fixed profit amount, rather than profit on % spent. This way you can change your mind about materials without it affecting your total build cost.

Asking about their profit margins

@Lastqueenofscotland

I’m a QS.. steel is going up by the day. I think honestly with the cost of materials at the moment,+ a labour shortage, cost of hiring plant… I can’t see it happening. Baring in mind cost of things people don’t think about like connecting utilities to the property can easily be a grand a meter for the pipe work. So say you need to hook it up to gas, mains water, mains sewerage and need trunking for electric cables… say 5 meters each to get to the mains, that’s £20k before you’ve done anything else.

Do you see prices coming down any time soon?

It can be done. We do property development as a side business and have recently last year completed a full new build converting and existing barn from ground up for £65k and it was to a high standard. Granted my partner did the majority of the work but we did hire a builder on a day rate to do the brickwork, a plasterer and obviously an electrician/ gas fitter to commission the works.

If you are to pay a builder on a contract to do the build then you stand no chance but doing the majority of the work yourself is possible. We had designer radiators, oak and glass staircase, solid oak flooring downstairs etc so it wasn't that we put the cheapest in possible as we didn't. It wasn't large but we averaged £77 sqft

We built 15 years ago and build cost was £113k which didn't include kitchen and bathrooms, but included all groundworks, electrics, plumbing and joinery. 4 bedroom brick built house - big but not huge.
Material costs have gone up a lot recently so you definitely need to take that into account.

My sister built a house. They owned the land. They got a building company in to build it at a very competitive price . She was South West 15 years ago.
Four bed, but not including kitchen as they had this fitted themselves.
They paid £135k which I think it's a fair reflection.

Rebuild costs for another family member on a second property, small semi detached three bed were costed out at £150k last summer.

So I think with todays inflated figures and material costing so much more, if you are looking to build a small detached three bed I would be setting aside £180k minimum.

But this very much depends on your construction type and how much of this you could do yourselves.

We've just put a stand alone, very well insulated wooden garden office to habitable standard in our garden. With building regs, electrics and heating it was £12k. We built it ourselves so apart from the electrician it was material cost alone.
Then we had a quote to put a single wooden floor down for £3k, I couldn't believe the cost.

Prices have risen steeply.

@implantreplace

When we tendered for our build, some of the companies included a line in their costings which was their profit. Others showed a flat 20% on all materials and services, which made up their profit total.

This was organised by our architect, so fairly normal process.

The first way shows certainty on a fixed tight budget. It also means if you change your mind and go for cheaper materials, the builder isn’t loosing out.

[quote AuntyFungal]@implantreplace

When we tendered for our build, some of the companies included a line in their costings which was their profit. Others showed a flat 20% on all materials and services, which made up their profit total.

This was organised by our architect, so fairly normal process.

The first way shows certainty on a fixed tight budget. It also means if you change your mind and go for cheaper materials, the builder isn’t loosing out.[/quote]
They included their profit margin?!m
Rookie error!

@AwkwardPaws27

We're about to spend £40k on a 7m² extension and that doesn't include kitchen units, bathroom suite etc...

£5.7k a m²! 🤯

We wanted to build a basic 3 bed for £450k, absolutely basic build costs were £180k for building alone. In the end we couldn’t find a good enough plot, but it would have been really tight to do for £450k all in. The land, connections and fees would have been £250k leaving £200k for build and finish. It wasn’t enough in the current market as everything is expensive at the moment and delays are long.

Even for a smaller house you won’t be able to build for under £100k, £150k more realistic

We built our house 12 years ago. We did our own plans & got the planning ourselves, did our own project management with the assistance of our builder. It cost us about £200k though we did have to have piled foundations because of nearby trees. Material costs have escalated since brexit too. Don't forget the professional fees for structural engineer, utilities, legal expenses. At the time we built everything was vat free on a new build, check if that's still the case.Good luck but I think you may need more ££

What about a kit house OP:

Kit + installation £75-93k

My husband is a builder. His company did our loft conversion before the pandemic. Bog standard one big room and an ensuite. Mid terrace property. It was £40k then. The costs of materials has sky rocketed since then.

I don't think you'll be able to do it.