Trying to decide if is doable self building in my situation

[Xerxei_Vanex]

Hello there, we are getting ready to get a Mortgage, we saw a land and we are trying to decide whether go for a house or a land and self built. The bank offer 297 000€, the land cost 60 000€ and our savings are 33 000€ which cover the 10% deposit + duties fees. We would like to know if is doable to build with this budget. We didn't think in house size yet but we are aware that wouldn't be a big one. Does anyone know how the stage Mortgage payments works, do we must pay also in every stage payment?
Thanks

 

[Steven Barrett]

The cost depends on what you put in and the size of the house and how much you want to spend on fixtures and fittings as well as kitchens, toilets etc.

It is also very difficult to get sub contractors to do jobs on a once off project if they don't know you. Better of getting a builder to do it for you.

 

[Leo]

we saw a land and we are trying to decide whether go for a house or a land and self built.

Do you know whether it would be possible to get planning permission to build on that land? Research that and build costs very carefully before deciding to go down the self-build route.

 

[KOW]

Hello there, we are getting ready to get a Mortgage, we saw a land and we are trying to decide whether go for a house or a land and self built. The bank offer 297 000€, the land cost 60 000€ and our savings are 33 000€ which cover the 10% deposit + duties fees. We would like to know if is doable to build with this budget. We didn't think in house size yet but we are aware that wouldn't be a big one. Does anyone know how the stage Mortgage payments works, do we must pay also in every stage payment?
Thanks

Completed 3 self builds over the last number of years, Finished last one just over 18 months back. All were without drawing down stage payments.
The fact that you will be drawing down stage payments coupled with the difficulty in securing good trades persons. I would recommend using a builder.