One in three people are interested in building their own home, but finance remains the biggest barrier to realising their dreams, according to research released to coincide with Right To Build Day.
The findings of the survey, jointly funded by the National Custom and Self Build Association (NaCSBA) and the Building Societies Association (BSA), show that 9% of respondents said they were likely to build their own home at some point in the future. This compares to around 5% of new homes currently being built as custom and self build.
Other key findings of the survey show
- Interest is highest in the young, with nearly half of 18 to 24 year olds saying they are considering a self build, compare with fewer than one in five over the age of 55.
- The main benefit for building is seen as the chance to design a house to their own specifications (74%), followed by the opportunity to create a home that can adapt to their current and future needs (50%).
- Financing the project is seen as the biggest hurdle (59%).
- One-third of people said living in a home that had less impact on the environment was a key benefit of a self build (33%), and nearly nine in 10 people (89%) considered energy efficiency an important factor.
The key findings have been reinforced by a separate independent survey undertaken on behalf of Ipswich Building Society. It also showed than one in three respondents were considering a self build, with 40% citing finance and finding a plot (20%) as the biggest obstacles.
The IBS survey shows that those considering a self-build project believe that location is their most important consideration when choosing a plot (40%) followed by price (17%).
People are also mindful of whether full planning permission has been approved (12%) and the size of the plot (12%) as well as whether outline planning permission has been approved (9%).
Right To Build Day marks the first anniversary of the date that local authorities were required to meet the demand for self-build plots in their area.
Anyone looking for a plot is urged to sign the Right To Build register to pressure local authorities to meet local demand in their planning policy.