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Recent Posts by BuildStore

• The Right Time to Build Your Own Home
• Self Build Land in Demand
• Now is the time to build your own
• Make More Space in Your Home!
• Eco Workshop - 12th June 2010
• Beat the Bank Holiday Boredom!
• Basic Building Blocks to a brand new home

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BuildStore's Blog

Now is the time to build your own

In the midst of the struggling housing market, there's an army of self builders who are busy building their way up the property ladder. Some housing pundits say that there has never been a better time to build your own home, and self build specialist BuildStore, is reporting a surge in self build land and finance enquiries.

Many people dream of building their own home, and an estimated 15,000-20,000 Britons make that dream a reality every year.  A self build project can involve a substantial degree of planning, time and hard work, but the rewards can be enormous, both financially and emotionally.

One of the major benefits of self build is that everything is done at cost price, so there is no built-in profit to pay for. Therefore, when construction is finally complete, the value of the property typically exceeds the total build cost by around 25%-35%, securing an impressive instant equity in the new home.

Until relatively recently, the property market was climbing at a phenomenal rate, with an increasing volume of mortgage lending, housebuilding and housing transactions.  These ‘good' times have meant ‘bad' times for self builders; there is generally a shortage of available plots of land for self builders, and the high land values price some self builders out of the market. During a time of increased development and housebuilding, self builders are often outbid by developers.

However, with the slowdown in the property market and the collapse of the private housebuilding industry, land is available in quantities and at a price that has not been seen in years. With the help of plot-finding agencies, such as PlotSearch, self builders now have access to around 8,000 building opportunities, but they have to move fast - good plots are being snapped up quickly. PlotSearch has reported that its enquiries for plots are still high, and have increased even more in 2010, as more people recognise self build as a way to climb the property ladder.  The PlotSearch database has grown significantly in the last couple of years, from around 5,000 development opportunities to over 8,000, and with that, prices have also dropped, making it an ideal time for self builders to grab a bargain. Plots which in early 2008 were priced around £160,000 can now be snapped up for less than £125 - a 25% drop, and below the threshold for stamp duty tax.

BuildStore, the UK's self build expert and service provider, is keen to help housebuilders, landowner and local authorities realise the potential of the self build market, and work with them to help sell their land assets as serviced plots direct to self builders.

Raymond Connor, Chief Executive of BuildStore, explains: "We have seen a steady increase in the number of people building their own homes in recent years, and even throughout the recession, our levels of enquiries for self build land and finance remain buoyant.  Budding self builders who have been waiting in the wings for months are now making the most of the increased supply of cheaper land and availability of self build finance. So, for anyone who has considered the idea of self build, now is the time to act - good plots at low prices won't be around for long."

Another important consideration for building your own home is how you will fund it. Building a home is not the same as buying a house, and mortgages for individual homebuilders are not like ‘normal' house purchase mortgages. There are lenders in the market who offer specialist mortgages for self builders, so consult a specialist advisor to help you get the right funding solution to fit your circumstances.

With any self build project, cash-flow is king and time is money. If you are unable to buy the materials you need, when you need them, or pay your builders on time, and if you can't pay your contractors, they will quickly move on to another job. Having the cash to pay your bills and buy materials will avoid these delays. If you don't have a large amount of cash sitting in your bank before you start, then an advance stage payment mortgage will give you the positive cash-flow you need.

BuildStore's exclusive Accelerator advance payment mortgage provides up to 95% of land costs in advance, and up to 95% of build costs, released in stages, at the start of each build stage.  This also means that you won't need to sell your existing house to release equity to fund your project - so you can live in your home throughout the project, saving you money on temporary accommodation. On average, self build borrowers end up with a 60% loan-to-value ratio at the end of their build, which gives them an impressive chunk of equity.

For more information on building your own home, visit http://www.buildstore.co.uk/

Make More Space in Your Home!

MAKING MORE SPACE WEEKEND

10^th & 11^th July 2010

National Self Build & Renovation Centre

For tickets and information, visit www.buildstore.co.uk/space or call 0845 223 4455

  The National Self Build & Renovation Centre is helping homeowners to ‘future-proof' their homes by creating and adding extra space to suit their needs with a special Making More Space event in July. By converting unused loft space or adding an extension, can maximise home's potential and increase its value.

With the housing market still very slow, more homeowners are considering extending and remodelling their existing homes in an effort to guard against negative equity.  By converting unused loft and basement space, or adding an extension, homeowners can maximise their home's potential and increase its value.

Homeowners are invited to bring your plans along to the event for expert advice, ideas and inspiration on creating more space and adding value to their homes.

The event will include a packed programme of presentations, demonstrations and one-to-one consultations with some of the industry's leading experts and professionals, that will ensure homeowners walk away with the confidence and knowledge to unlock the potential in their home. From planning and building regulations compliance, to designing and building new living space, you can learn all you need to know to make the most of your home, whether its open plan living, an extension, or a basement or attic conversion. 

Eco Workshop - 12th June 2010

Eco Workshop: Sustainable Heat & Energy Solutions

Saturday 12^th June 2010

The National Self Build & Renovation Centre, Swindon

For free tickets, visit http://www.mykindofhome.co.uk/ or call 0845 223 4455

Whether you want to get advice on a 1-to-1 basis with an expert or you want to sit in on a few seminars and simply soak up the knowledge, you should find this Eco Workshop, on heat and energy solutions for the home, extremely informative.

You'll be able to dig deep for information on all the eco technologies on the market and find out what new systems could be available soon. Find out what's new, what works and what is practical for your home: this is your opportunity to get the facts straight from the experts and join in the discussions.

Resident Centre expert, Dave Hilton, will be accompanied by experts from British Eco and Genvex, to discuss Sustainable Heat & Energy Solutions, and the Green Team, including an architect who specialises in sustainability, an SAP Assessor and an Environmental Buildings Advisor, will also be on-hand to dispense advice and answer your queries. 

Self Build Land in Demand

Britain’s housing market is one of the biggest casualties of the economic turmoil, plagued with falling house prices, repossessions, a collapsed housebuilding industry, mass redundancies and restricted mortgage lending. In the face of such problems, self build and renovation specialist BuildStore is reporting a huge rise in demand for its services, as the nation’s frustrated homeowners take matters into their own hands. BuildStore has noted a significant increase in demand for self build land and renovation properties through its land database, PlotSearch (www.plotsearch.co.uk). Current subscription levels to the online service are up over 140% one levels six months ago (October 2008); in the last three months, since January 2009, subscription levels are up almost 50%. BuildStore’s Chief Executive, Raymond Connor, explains: “It is a critical time for the housing market, which has been suffering since the start of the credit crunch in 2007. Homeowners are now looking for an alternative way to climb the property ladder, and are realising that by building a house themselves, they can save money, protect against negative equity and get the house they truly want, as opposed to paying a premium for a house that has been designed and built without their input.” This recent surge in demand shows that homeowners are taking advantage of the increase in land availability (up 50% in the last 12 months) and falling land prices (down 20% in the last six months), with average monthly subscription levels already 20% up on last year’s monthly average. The PlotSearch database is currently listing over 9,000 building opportunities, over 60% of which are priced below the current threshold for stamp duty (£175,000 until 3rd September 2009) and a third are priced under £100,000. At a time when new homes and mortgages are both in short supply, self build plots, construction labour and even specialist self build mortgages are accessible and available, and BuildStore predicts that 2009 will see more homeowners become homebuilders.

 Next month, BuildStore will be putting its ten years experience in the self build and renovation sector to good use when it hosts the National Self Build & Renovation Show (15th – 17th May 2009) at its 67,000 ft² National Self Build & Renovation Centre in Swindon. The Show will offer an opportunity for those homeowners looking to escape the turmoil in the housing market to get the advice, information and inspiration they need to build their own home.

For comprehensive and impartial advice on self build, renovation and home improvement, visit the National Self Build & Renovation Show (15th -17th May 2009) at the National Self Build & Renovation Centre in Swindon, just off Junction 16 of the M4. To register for free tickets or for more information, log on to www.buildstore.co.uk/show or call 01506 409 616.

The Right Time to Build Your Own Home

BUILD YOUR WAY UP THE PROPERTY LADDER

Is now the right time to build your way out of the recession, up the property ladder and in to your dream home?

In today's economic climate, is it wise to move up the property ladder, or stay put and ride out the financial storm? You could be excused ‘staying put', given the difficulties in the housing market; however, there is an alternative. An army of self builders and home improvers have started building their way out of the recession and up the property ladder.

In the midst of the doom and gloom and dire predictions about the future of the housing market, some housing pundits say that there has never been a better time to build your own home, and self build and renovation specialist BuildStore has reported a surge in demand for its services in 2009.

With current market conditions creating a more favourable environment, self build and home improvement is becoming a realistic alternative for homeowners. BuildStore has seen a significant increase in interest from prospective home builders, looking to take advantage of the increased in land for sale, falling land and property prices, access to specialist mortgages, and availability of cheaper labour. The company's National Self Build & Renovation Centre is hosting a three-day show in May, offering plenty of advice, support and inspiration for homeowners who are looking for ways to improve their position on the property ladder.

The National Self Build & Renovation Show will be held between 15^th and 17^th May, featuring a programme of ‘walking seminars', product demonstrations, and workshops. Homeowners can get advice on finding land and renovation properties; learn about specialist financial products to fund and protect their project; find local reputable tradesmen; get access to special offers and discounts on materials; book one-to-one sessions with CAD designers to bring their plans to life; meet TV builder Tommy Walsh, and learn how to make their homes more energy efficient.

Tim Doherty of the National Self Build & Renovation Centre, comments: "The problems in the wider economy have left the property market stagnant, so homeowners are beginning to look at alternative ways to move up the property ladder and avoid negative equity.

"We believe that there has never been a better environment for homebuilding and home improvement projects, and predict that 2009 will see more homeowners turn into ‘home builders'.

"Our Show is interactive and dynamic, and with a refreshing mix of seminars, face-to-face consultations with experts, inspiring and informative exhibits, and live product showcases, all under one roof - it's unlike any other event or exhibition. Whether you need help choosing your building system, want to learn how to tackle problems found in a renovation property, discover the latest in home appliances and tools, find reputable tradesmen, or discover the benefits and pay-back of the latest eco products, you can learn it all at the Self Build & Renovation Show and really get your property projects off the ground."

For comprehensive and impartial advice on self build, renovation and home improvement, visit the National Self Build & Renovation Show (15^th -17th May 2009) at the National Self Build & Renovation Centre in Swindon, just off Junction 16 of the M4. To register for your free tickets or for more information, visit www.buildstore.co.uk/show or call 01506 409 616.

Beat the Bank Holiday Boredom!

    With the first of eight Bank Holiday weekends of 2009 fast approaching, the sun is starting to make an occasional appearance and we are all looking forward to longer weekends and shorter working weeks. But last year, more than two-thirds of us stayed indoors over the bank holiday weekends, preferring to watch TV and surf the internet.

Whilst less than 10% turned their hand to DIY on a bank holiday last year, BuildStore, the self build and home improvement specialist, wants to help the nation's homeowners get to off the couch this year and has put together eight ideas to help you, and your home, get the most out of the 2009 Bank Holiday weekends.

1/ In search of inspiration: If you need advice or ideas for improving your home, whether its an extension, a loft conversion, major renovation, or building a new home from scratch, pay a visit to The National Self Build & Renovation Centre in Swindon. The Centre is open five days a week, including Bank Holiday Monday's and you can find lots of inspiring ideas for your home. You can also talk to a range of experts about planning your project, arranging finance, and selecting products and building materials. Log on to www.mykindofhome.co.uk for more information.

2/ Lower your energy bills: Don't be left in the cold when winter comes around - make sure your property is as energy efficient as possible, and you will benefit from lower energy bills in the winter months. Insulating your loft is something you can do yourself over a weekend, and that little investment of time will soon be rewarded when you see your energy bill falling. Make sure you minimise draughts as well - you can buy draught strips to fit around window frames and door frames, which will help to stop heat escaping and the cold getting in.

3/ Polish up your skills: If you are going to undertake a home improvement or home building project, you could save some money on labour and professional fees by learning some basic practical and project management skills. There are a number of one-day seminars and weekend DIY and construction skills courses available to teach you the tricks of the trade. The National Self Build & Renovation Centre runs courses throughout the year. See www.mykindofhome.co.uk/courses for more information.

4/ Go plot hunting!: If its always been your dream to build your own property, or perhaps renovate or convert an old wreck then why not make the most of the weekend and go plot-hunting. Use a plot-finding database, such as PlotSearch (http://www.plotsearch.co.uk/) to help you find what's available in your area and then go and visit the plots for yourself. While you're there, talk to the local residents, browse the adverts in the local paper, visit estate agents, and even see if you can put up some notices in local shops to let people know that you are looking for a building opportunity, whether it's a plot of land, an old cottage, or a barn.  

5/ Out with the old: As the heart of most family homes, the kitchen can be one of the most expensive rooms in the house. If you are thinking about replacing your kitchen, then you could save yourself some money by ripping out the old one yourself. It will take two people a day or two, but it will save you paying for someone else to do it.

6/ Don't forget the outdoors: With the warmer weather no too far away, many people will want to spend more time in their garden, whether it's a relaxing read or a garden party. Make sure that you have somewhere nice to enjoy the sun by doing a bit of landscaping. Laying a new patio, or some decking is a good weekend project and doing it yourself can help keep the costs down.

7/ Planning & Preparation: If you are planning a major building project, whether it's a new extension, a loft conversion or a new home, make sure you spend plenty of time planning and researching. Rushing into a project without taking the time to plan can result in disaster and costs could spiral out of control. Consider everything, from the budget breakdown and schedule to the type of fixtures and fittings, and tradesmen you'll need. Seek expert advice on things like finance - BuildStore offer a range of self build and home improvement mortgages, and design - i.e. an architect, to make sure you've got the basics right. Independent advice is available from The National Self Build & Renovation Centre in Swindon (www.mykindofhome.co.uk).

8/ Shop around: When it comes to buying materials and products for your home improvement project, be sure to shop around. Your local DIY or hardware store may be just down the road, but you should also visit local builder's merchants and contact suppliers directly to compare costs and quality. To help you save even more money, you can apply for a TradeCard (www.buildstore.co.uk/materials), which you can use at a number of merchants, suppliers and tool and plant hire companies to get discounted prices and exclusive offers.

For more information and advice about self build, renovation and home improvement, visit www.buildstore.co.uk

Basic Building Blocks to a brand new home

In today's economic climate, is it wise to move up the property ladder, or stay put and ride out the financial storm? You could be excused ‘staying put', given the difficulties in the housing market; however, there is an alternative. An army of self builders and home improvers have started building their way out of the recession and up the property ladder.

In the midst of the doom and gloom and dire predictions about the future of the housing market, some housing pundits say that there has never been a better time to build your own home, and self build and renovation specialist BuildStore has reported a surge in demand for its services in 2009.

For those who are now starting to consider a self build or home improvement project, the National Self Build & Renovation Centre in Swindon is holding a weekend event next month (4^th & 5^th April),  dedicated to helping you get the basics right.

Tim Doherty, managing director of the National Centre comments: "When it comes to planning your self build or renovation project, don't forget ‘The Three P's' to make sure your project runs perfectly - Preparation, Preparation, Preparation!  To help you get the foundations of your planning right, the experts at our ‘Basic Building Blocks' weekend is ideal for novice self builders and renovators who are feeling a little overwhelmed and baffled about where and how to start."

The event programme will take you through the first steps of any building project - the ‘who, what, where, why, when and how' - helping you to understand the basic principles and key decisions involved to get your project off the ground. Covering everything from finding land, securing planning, and choosing a construction method, to budgeting, project management and sourcing your trades and materials, the event will provide the answers to prepare you for any project.

The Basic Building Blocks weekend includes a programme of presentations and seminars, and you'll have the chance to book one-to-one consultations with some of the industry's leading experts and professionals, as well as meet real-life self builders and renovators. If you want to build up your knowledge, this event will give you the confidence and know-how to plan a perfect project!

For comprehensive and impartial advice on self build, renovation and home improvement, visit the Basic Building Blocks Weekend (4^th & 5^th April 2009)) at the National Self Build & Renovation Centre in Swindon, just off Junction 16 of the M4. To book tickets or for more information, visit www.mykindofhome.co.uk/blocks or call 01506 409 616.

A boost for new homes and construction jobs

BUILDSTORE CALLS FOR MORE LENDING TO PROVIDE NEW HOMES & CONSTRUCTION JOBS

With construction workers currently at the top of the dole list, self build specialist BuildStore is calling for more funding from lenders to help meet the demand for self build and pull construction workers out of the dole queue. The company is reporting enough demand to double its mortgage lending to self builders and boost the flagging construction sector with thousands of new jobs, saving the state tens of millions of pounds in benefit payments.

The potential for larger scale self build is significant, says BuildStore, and its enquiry levels in 2009 demonstrate that there is a growing demand from frustrated homeowners. BuildStore normally arranges around £500 million in self build mortgages every year, but is appealing to lenders, including state-funded banks and local building societies, for more funds to meet the demand and boost the construction industry, supporting local labour supply and skill bases, and providing investment in local communities.

Raymond Connor, Chief Executive of BuildStore comments:  "It is a critical time for the housing market, and we believe that self build housing can play a big role in kick-starting activity, by providing new homes and new jobs.  BuildStore believes that the social and economic benefits of self building are too significant to ignore, and is therefore urging lenders to make an allowance, however small, for the self build mortgage market.

"State-funded banks now have an obligation to put money back into the economy and local building societies could be doing more to support their local communities. Further investment in self build lending will help solve the housing shortage and can help to bring skilled tradesmen off the dole and provide real investment for local communities."

Self build has proved resilient during the credit crunch, with a panel of lenders still providing up to 95% funding for land and build costs through BuildStore and facilities like the National Self Build & Renovation Centre in Swindon providing information and education to give people the confidence to tackle their own home-building projects.

The stagnant property market and shortage of new homes is now beginning to take its toll and homeowners who need to secure their position on the property ladder are looking for alternatives.

The self build market has outgrown its ‘alternative lifestyle' label, and with a raft of professional services, experts and support, modern day self build has an established independent marketplace, making it far more accessible and the rewards even more appealing, although it remains relatively under-represented, as compared with other nations.

At a time when housebuilding output is at its lowest for decades, mortgage lending is restricted, and thousands of construction workers join the dole queue, self build could become a real alterative to delivering the UK's housing needs, providing quality homes, supporting the troubled construction sector and local workforces.

Construction Dole Queue

The recession has put the construction industry under immense pressure, leading to tens of thousands of job losses, and the lowest level of housebuilding in decades, creating a shortage of new homes and an ever-increasing dole queue.

The UK construction industry employs 1.29 million people, but over the last year, the rate of construction job redundancies was higher than any other sector, including the banking & financial sector. Most of these job losses have been in the housebuilding sector, which accounts for almost 40% of the overall construction output in the UK.

Figures published by the Office of National Statistics last month reveal that construction workers are at the top of the list of out-of-work dole claimants, costing the Government nearly £4million each week. Construction trades, such as carpentry, bricklaying and plastering have all recorded over 100% increases in workers claiming dole payments in December 2008, compared to December 2007, with 78,540 more tradesmen joining the dole queue at the end of last year.

BuildStore believes that there has never been a better environment for self build and as the construction industry has been hit hard by the recession, the opportunity to safeguard skilled construction trades and provide better quality housing is there for the taking. With the current annual output at 20,000, the self build market provides 28,453 full-time construction jobs, with a total spend on construction labour and professionals of £1.19bn each year.

Construction labour & professionals required for each self build project:

By enabling an extra 5,000 self builds each year, 7,113 full-time construction jobs are created, representing an additional £298million spend on labour.

Mr Connor concludes: "The Government's target to build three million new homes by 2020 is under threat, but BuildStore believes that self build housing could make a significant contribution to this target - we have the demand from self builders, the availability of land and labour, and the access to funding to make it happen. We can also safeguard thousands of jobs and keep skilled labour and local economies thriving, by enabling the delivery of more homes using the self build model."

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