Self Build to Save Tax on Your New Home

With the Build It live exhibition to take place at Bluewater from 28th February to 1st March, Self Build is a term that home buyers will become familiar with.  They will learn why, particularly for luxury home buyers, it now makes sense to buy a building plot and employ a house builder to build a home for them rather than to buy an existing house.

 

First there are all the advantages of choice.  Self Build does not mean laying the bricks yourself. Having a home built especially for you gives the opportunity to choose style, design, fittings and interiors that really do make a home distinctive and individual.  High insulation levels are built in to all new homes reducing energy costs and increasing comfort.  These have long been a benefit enjoyed particularly by luxury home buyers. 

 

There is a huge choice of designs available.  Many local architects specialise in the design of individual homes, and can assist in the planning process too.  Also there are timber frame companies providing a wide range of ready made designs and structure for those who wish to adopt an off the peg approach.

 

Now there is another powerful reason why home buyers should consider self build -  saving tax.

 

Exemption from Community Infrastructure Levy (CIL) available to self build can save tens of thousands of pounds making it easier for private buyers to compete with speculative house builders for building plots.  This means that there are many more plots available for those who genuinely wish to have a home built for their own occupation.  Luxury house builders such as DBS who specialise in self build have produced details of infrastructure charges applied by the local borough and district councils.

 

Recent changes to Stamp Duty Land Tax (SDLT) favour those buying a plot and having a home built on it rather than buying an existing home, especially when we are talking of a high end property.  DBS have calculated that the saving could be around £122,000 in tax on a home with an end value of around £2m making it far cheaper to to self build than buy an existing home.

 

Finding the right plot is the first hurdle that the self build buyer has to cross.  In addition to enquiries of local estate agents a good source of plots will be available from specialist home builders like DBS who will put together schemes themselves for self build, often preferring to build direct for a private client rather than speculatively.  Specialist home builders employ a full range of professionals able to handle site acquisition, planning and environmental matters as well as sourcing the materials and the construction.  They are well placed to advise on planning matters, costs and timescales.

 

Today the advantage for home buyers of employing an architect or specialist home builder is to  self build a luxury home that is distinctive and special as well as offering a substantial tax saving.

 

Details are available from DBS:  sharon.peck@dbshomes.co.uk

Latest Blogs

Who may hold the ultimate title? Don't just take our word for it, here is what one of our customers has to say Now it's time to deliver on the promise - More new homes Stamp Duty changes create a boom in self-build in Kent Self Build to Save Tax on Your New Home Denis Minns asks - Will Buy to Let attract another new tax? Urbanisation and globalisation are driving today's labour market Misguided Mansion tax is the Blunt instrument of envy What is the solution to housing affordability? Is shared ownership the answer to housing affordability? Town and Country planning associated publish their analysis of UK 2011 Census Bungalows Is it time to slacken the grey belt? With a chronic housing shortage should we make room for Micro homes? Are private house sale websites now the way to sell your home ? Self Build and save money House Building Boom Housing Markets better facilitate renting rather than ownership. How do we swing the balance back toward ownership? Housing is increasingly being seen as a growth driver for the economy The Government is sure it wishes to see more new houses built but seems far less sure how this is to be done ''They who now will bless the poor, shall yourselves find blessing.'' Carol - Good King Wenceslas Housing markets in United States have turned the corner. Housing starts have increased and there are signs too of rising house prices The Government has implemented a number of measures to increase House Building and getting Housing markets moving. Denis Minns offers House Buyers a Chance to Choose House building has become an expensive game of chance with less players willing to take the risk Am I a man more planned against than planning Denis Minns, Managing Director of DBS Homes wants to give credit where it is due Today, the green vision of Eco towns is stuck in the 'Brown' legacy of environmental red tape and regulation. 'Keen to be green'

Latest News

The ultimate bespoke home for purchaser Offset Stamp Duty to Design & Build your dream home DBS Homes' excellent reputation precedes them Birchwood & Sunningdale, Chelsfield Park - Coming Soon Surrey Collection Coming Soon A modern world in a period shell DBS Homes Housing Association - Shepway Today Wisteria in the Weald Purchasers find that quality shines through DBS Homes - Always thinking about tomorrow Choose an enviously green lifestyle in a DBS home Pinecroft - advertorial Oakwood, Otford - advertorial Stylish design & just 17 minutes from the city

© DBS Sevenaoks Limited 2017    
tel: 01732 240555       email: