Bathrooms - Self-build ''has financial advantages''

07/02/2008

The ability to choose the ideal layout and interior design is not the only benefit of building your own home, according to a mortgage expert.

David Murphy, sales and marketing director of The Mortgage Business, said that government housing policies have helped to raise the profile of the concept of self-build.

This has been reflected in the growing number of enquiries about specialist self-build mortgage products the lender has received from people who are aware of the financial advantages of such schemes.

Mr Murphy explained: "There are a host of benefits in building your own home not least the fact that VAT can be claimed back."

He added that although finding and purchasing the right plot of empty land could be problematic, many self-builders were becoming aware of the potential of buying an old property in a good location and knocking it down.

Jason Orme, editor of Homebuilding & Renovating magazine, recently advised anyone hoping to make money from a self-build project to fit at least two bathrooms in order to ensure the property is attractive to buyers.