Should you build your own home in 2023 guide, Equity markets and house prices guide, Property stamp duty
Should you build your own home in 2023 Guide
17 November 2022
2022 has been a particularly negative year for business. Equity markets and home prices have seen their values drop remarkably, while inflation and interest rates have gone in the opposite direction, causing the financial prospects of millions of people to change very quickly as a result.
Should you build your own home in 2023 – Advice
Buying a home in 2022-2023
With house prices beginning to drop in 2022 because of a looming recession, many people are considering holding out from the housing market and take a wait and see approach in hopes of finding a better deal down the line. Predicting the future is never easy, especially in uncertain times. Financial planning is therefore really important to avoid the wrong financial commitments that may not work out.
Building your own house
One sure way of almost always saving money in the process of owing your own house is building it yourself. Here’s a small run down of the costs you would save on by doing this:
- You will save money on stamp duty as you are taxed on the land and the value of an existing property.
- You won’t have to pay for a contractor, but even if you did, you would still likely save more than buying an existing home from a seller looking to make more than they paid themselves.
- You can design a house with materials that are more energy efficient and cheaper than homes built 30-60 years ago, as an example: PIR foam insulation or mineral wool insulation offers insulation and fire protection qualities many homes built in the 1950’s and beyond didn’t. Saving you building costs as you go along as well as heating costs once your home is finished.
Avoiding accidents while building
Construction has a reputation for being a dangerous profession in which to work. This reputation is built on firm foundations – each year, a significant proportion of fatal UK workplace injuries occur on building sites.
Unless you’re a jack of all trades, it’s likely you’ll the need the help of engineers and plumbers as well as builders to make your construction project come to life. It’s therefore very important you take into account the added risks of building your own home, against any savings you could potentially make, and prioritise health and safety as accidents at work can happen.
Fortunately, improving safety measures are helping to drive positive change. To illustrate this point, data released by Health and Safety Executive (HSE) shows that the number of fatal construction industry injuries decreased by 25% in 2021/22 compared to the previous year.
In this short guide, we’ll share two of the most crucial measures you can implement to prevent accidents on-site.
- Maintain equipment
Often, worksite injuries take place because of problems with equipment. Before commencing work, make sure that all the tools and pieces of equipment needed are working and free from damage.
Yet you also need to ensure that only the correct pieces of equipment are used for each task.
Encourage workers not to ignore problems with equipment. They should report any defects to a supervisor immediately and take the item in question in for repairs.
- Wear PPE
Ensuring that workers are all wearing the appropriate personal protective equipment (PPE) is one of the simplest yet most effective things that you can do to upgrade the safety of a building site.
This is clothing that protects your employees from health and safety risks that they might encounter during work, ranging from falling materials and dangerous fumes to adverse weather conditions.
Common examples of PPE include goggles, helmets, gloves, boots and hi-vis vests.
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Glasgow Housing Designs
Contemporary Glasgow Residential Property Designs – recent Strathclyde architectural selection below:
The Foundry Cathcart housing development
The Foundry Cathcart housing development
Ingram Street Property Development
65-97 Ingram Street Glasgow
Bridgeton Flats
Bridgeton Flats Muslin Street
Buildings
Key Buildings in Scotland Articles – architectural selection below:
Historic Glasgow : best Glasgow architecture of the past
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