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Househunters 'could save £46k by commissioning tailor-made home'
25/02/2008
Homebuyers in the north-west could save as much as £46,000 by having a home built especially for them, new research has suggested.
According to propertyfinder.com, buying a ready-made home costs an average of £222,295 in the region, whereas the cost of land, materials and labour amounts to £176,500.
However, the cost of land in north-west has risen by almost three per cent in the past six years, while the cost of building a new home has risen by 71 per cent in the past five, reports the Salford Advertiser.
Nicholas Leeming, director of propertyfinder.com, told the paper: "Built costs have risen faster than the cost of buying a new home but it can still make financial sense depending where you live and how your pain threshold is.
"Aspiring homebuilders in the north-west can make a good saving, but may feel that £46,000 is not really worth the hassle."
The recent Barker report stated that there is a shortfall of 600,000 homes in England. The government has promised to build around 200,000 a year.
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