You might be thinking about finding your dream home on the market this year. Perhaps, you’re thinking about moving out of that small property that you’ve put up with for too many years, and now you’re ready to move to a bigger place.
However, there is a problem with this. First, buying your dream home may not be possible because it’s just not on the market. Imagine, if you wanted an affordable home with a private pool in South England? Finding a home with a pool won’t be a massive hurdle but trying to pay for a house that is probably on the market at over a million definitely will. Instead, you should be looking for ways to get your dream home without paying the obscene price tag.
The best idea? Don’t buy, build.
Find Your Land
The first step is making sure you find land where you can build your new dream property. To do this, you should look at land and areas that are already in development. That way, you can purchase a plot in an area that will already be supported by a growing infrastructure. If you’re interested in this possibility, you need to check out some property investment sites. You’ll see there’s a wide range of areas currently in what is referred to as active development.
You might choose the opposite approach and build in the build of nowhere. It’s not a bad idea, but you do need to be careful and make sure you don’t build in an area where the environment could be a problem. For instance, if you find land that is being sold at a low price, it might be because it’s part of a flood plain.
Managing The Development
Whether you are building a brand new home on untouched land or renovating an old property to make it your dream home and rebuilding it, you will run into legal issues. For instance, your plans may not have approval from the local council, or perhaps you are building in an area where people don’t want a development. As such, you should hire a property development solicitor to manage these issues effectively for you. Property development solicitors are highly skilled at resolving the problems that people often face when they decide to build and invest in a brand new property.
Budgeting The Build
You might have heard that building your home is always going to be more expensive than buying. This isn’t true at all. In fact, it’s entirely possible that you can get a great home that is better than one on the market and considerably cheaper. Why is this? You’ll be in complete control of everything from the materials used to the number of rooms in the home as well as unique features. You should take advantage of this and ensure that the home you build fits snugly into a budget you’ve probably already settled on.
Lastly, at this point, you’re probably wondering how long it would take to build and move into a brand new home. Well, it could be completed in less than a year, and that gives you plenty of time to sell your current home as well as finding the perfect place to build. As well as this, you shouldn’t forget that a new home isn’t just a personal investment. If you work to build a brilliant property one day, you can sell it and make an absolute fortune.