At the dreaming stage of a self build!

Bell Eve

I have always wanted to build rather than buy a house. I am nowhere near financially ready to do so at the moment but I’m hoping to get a figure in mind to aim for.

I guess I’m a bit naive, but I assumed a mortgage would cover all the costs involved. I have recently found out that it’s mainly just the house build itself!

So, could anyone give me a rough idea of what the other outgoings would be? Architects, water connections etc? I don’t need actual costs, just a list of things that have to be paid for that wouldn’t come out of the mortgage amount! Hope that makes sense!

JoeA3

Some banks, Bank of Ireland certainly, do allow you to include some or even all of those fees as part of the total build cost.

brav

The mortgage usually does cover all of it, (well whatever LTV rate you are aiming for).
However often the site or fees getting to planning and tender (percolation test, Stage 1 and 2 and maybe 3? of design process) would have already been paid before being able to drawn down mortgage so you would need at least that amount anyway.
If going for an LTV of 80% there is a good chance your 20% could cover that anyway, so you would use what you paid already to help get down the LTV value for lower %

AIB's template for costings for the mortgage is attached to give an example.

Shaunoc

you'll want to budget for a holiday when halfway through to help deal with the frustration of it and recharge for the final push.
then budget for a baby or 2 during the process when all the rooms are bare.
but well worth it