Save Money and Increase Profits . . . Build Your Very Own Luxury Eco Home

Designing and building your own eco home can save you on average 30 per cent on a ready-built property; and you could find the profits rise to as much as 40 per cent on top of your build costs when the property is completed. Sometimes the added value can be higher still.

Whether its because of the vast array of property programmes on TV: Grand Designs; Property Ladder; Location, Location, Location, et al, more people are seeking greater control over the setting and design of where they live. And “design” not only refers to the appearance of a build, but rather the construction materials and overall spec of the property. And it seems everybody wants their dream home to have the ‘environmentally-friendly’ factor.

Being able to choose the location of your home is a big plus point, particularly around the major cities where space is at a premium and there is a constant demand for land. For example in London, the majority of plots that become available are commercially-owned buildings, garages and yards. One firm of property finders reported that a row of garages behind Eaton Square in Belgravia recently sold for £25 million.

The potential sting in the tail when dealing with former commercial property, is that submitting a change of use application means dealing with planners, so there are no guarantees of success.
Some estate agencies specialise in finding plots of land for clients and will charge a fee on result of a successful find so it’s worth shopping around. You can also try PlotSearch – ‘the UK’s largest single source of available land and properties to convert or renovate’, that charges a modest monthly subscription.

If you’re looking for luxury, financing your eco home may be tricky as the self-build loans market is limited. On the plus side, you will pay less tax on your purchase than with a traditional home. With the self-build option, you will currently pay duty only on the value of the land purchased. However, if the land is worth less than £125,000, you will pay nothing. Another plus is that you can reclaim VAT on building materials.