The UK has always been a nation of home ownership, generation after generation, the adage of owning your own home in your late 20s was achievable for most people, even on a modest salary. But this in 2011 if you did a survey of 1000 people aged 20-30 today the vast majority would be:-
1. Living in a rented house.
2. Saving for a deposit on your first home, which is now in the tens of thousands of pounds and mortgages have never been harder to come by.
3. Continue to live with relatives and parents.
4. Living in your own property with no hope of climbing the housing ladder.
Over the last 10 to 12 years, house prices have risen to new heights in the UK, but wages have not kept pace, and for most parents of their 20s, the tens of thousands of pounds required As a deposit for the first home buyer is not something they have had time to plan for in the same amount of time. The price hike went up too fast.
First-time buyers are often told they only have two options, rent or buy, but for the first time in the UK, the European self-build option seems poised to offer them an alternative. In Germany, for example, more than 60 percent of all first-time homes are self-build homes and with the UK property market at a standstill, finding land to build on is now a viable alternative to ever-growing size. less than new homes. build homes and apartments in densely populated new-build developments.
Adding to first-time buyers’ list of problems after being able to find the down payment and paying off the mortgage payments, energy costs and being able to afford to manage the home are likely to increase.
Planning permission for a self-build home is much more likely to be granted when it is an energy efficient sustainable home. When it comes to looking for land to build on, here are three popular options:
1. Existing agricultural land still offers one of the best routes to secure detached housing.
2. Realtors sell land too! Stay in touch with your local realtors for land opportunities, sign up for their mailing lists, and keep asking!
3. Find and buy an existing run-down bungalow on a small plot and submit plans to tear it down and replace it with a contemporary, energy-efficient design. You will likely see a significant profit margin at the end of your project and enjoy all the benefits of living in a stunning home at the same time.
