Jane McGowan finds out more about the world of custom build...
Following on from our last piece, where we looked at buying a home on brand new development, here we take things back a step further and consider a custom build.
But what does the term mean? In essence, it fills the gap between self-build (where you take responsibility for every aspect from laying the footings to screwing in the lightbulbs) and buying off-plan (where developers allow buyers to select their own kitchen worktops or flooring). Custom build enables you – with the help of a bespoke developer – to create your perfect home, offering you the opportunity to have as much or as little input as you want.
Garry Walton is managing director of Esher-based Taloe Homes, a bespoke developer that among its many functions offers a ‘design and build’ solution for those already in possession of a viable plot of land who are looking to create their perfect home without the hassle of doing it themselves.
“We are often approached on site by individuals asking if we can build for them,” says Garry. “We provide a ‘turnkey service’ which basically consists of everything from planning experts and architects to fee management and interior designers.”
Garry says that, unlike buying off plan, would-be homeowners who choose to custom or design and build have a bigger say in the look and internal shaping of the property.
“Once planning has been approved on the external elements, purchasers are free to move walls, change layouts, as well as choosing all the different kitchen and bathroom elements. For example, what was designed as a gym and cinema room can easily be transformed into a playroom or office or both. It is totally up to the client,” he explains.
A custom build can also save you money. For example, Taloe Homes currently has a plot on the market in Ruxley Heights, Claygate, priced at £1,250,000 with planning in place for a four-bedroom house in a sought-after gated development. Any prospective design and build client would therefore only pay land tax and stamp duty on that price and not on the end cost of the home which would be worth approximately £3m-£4m. A guaranteed saving, according to Garry, of £200,000.
However, it’s important to remember that all of the funds will need to be available, as developers may invoice on a monthly basis or periodically throughout the build and not all mortgage providers are on board with the process.
Another factor to consider in a custom build is the plot itself. As anyone living in the South East can testify, space is at a premium and Garry says it is crucial people are meticulous in their research should land come up for sale.
“It is really important to find out what the land has been used for before,” Garry advises. “You really need to call in the experts to find out whether there is any contamination, whether a stream may lie beneath or even if there is a covenant on the land which would mean you may not be able to build.”
But once your plot has passed the test, then you are ready to either self-build which, as Garry says, is not for the ‘risk averse’ or to custom build.
“There are lots of things to consider when embarking on custom or self-build,” says Garry. “Such as where you will live while the work is being done, costs and so on but, at the end of the day, you get the house you want, when you want and where you want.”
For more information, visit: taloehomes.co.uk
