Are you thinking about building your own home?

Self build has grown in popularity in recent years and about 22,000 self built homes are now completed in the United Kingdom every year. Timber frame, insulated concrete formwork and self build kit homes are some of the more common materials used. These account for 13% of all new build houses.

For most people, it is a great experience but building your own home needs to be planned. To give your self build project the best chance of success, good planning and a clear strategy is essential.

Some of the factors that affect self build costs involve calculating a ball-park figure that allows you to:

• Decide if it is economically viable to build your own home.
• Work backwards to calculate how much you can afford to spend on a self build plot of land.
• Assess your borrowing and self building mortgage needs.
• Get an idea of the house you can build within your budget.
  Most self build cost calculators work on traditional masonry or timber frame building costs. If you are interested in a specialist build method you should contact specialist companies for estimates.

There are variations in material, labour and equipment prices that affect the total build cost. As you’d expect, London is the most expensive area, followed by the South East. The Midlands, Yorkshire, Wales and the North East are the cheapest.

Economies of scale apply. Pound per square metre build costs reduce as the size of the property increases. Each additional floor becomes more cost effective than the last.

The more you do, the more you save. You can employ a package company but that increases the price however can reduce the stress

Your choice of building products and bespoke design items will have a considerable influence on the cost of self building a house. Better quality usually means more cost.

A steep slope, contaminated ground or a location in the middle of nowhere can all wreak havoc with your budget. The actual impact on your self build costs are often difficult to predict.

You should account for the cost of erecting a garage and any outbuildings required. It is usually recommended to budget the same £/m2 for garages as for the main house.

Build costs are normally referred to in Pounds per square metre (£/m2) with m2 being the total internal floor area of your proposed home. Depending on the influence of the factors mentioned above, a traditional masonry or timber frame building in the UK can range anywhere from £550/m2 to £1700/m2.

For many self builders, buying land is one of the most difficult parts of the process.

There are self build mortgages available from financial institutions. Self build usually conjures images of building on an empty plot but renovation and conversion are also options.

Loft conversions are also increasing which require planning permission.

You may consider looking at unusual properties for sale and converting something a little bit different to achieve your dream home. Alternatively, buying an existing house to knock down and rebuild could be a possibility.

On the whole, self builders have been more enthusiastic about embracing sustainable development and eco homes than commercial house builders who, understandably, have been reluctant to invest until public opinion, economics or government regulation motivate them to do so.

For more on meeting requirements, refer to the Building Regulations, the Code for Sustainable Homes and the Energy Saving Trust.