Self Build Aspirations: A Fresh Perspective

ProAktive www.selfbuildinsure.co.uk SELF BUILD ASPIRATIONS A FRESH PERSPECTIVE % New research conducted by the NaCSBA and the Building Societies Association (BSA), around the aspirations of those that want to self build has revealed that 1 in 3 adults in Great Britain are interested in self building at some point in the future. The research was commissioned to gain a fresh perspective of self build intentions and the effect of COVID-19 on people's feelings about their home. ASPIRATIONS In response to aspirations the data found that: Nearly a third of GB adults (32%) are interested in designing and building their own home. 9% of people said they were likely to build their own home at some point in the future. This compares to around 5% of new homes currently being built as custom and self build annually. 18-24 YEARS Interest is highest in the young, with nearly half (48%) of those between 18 and 24 saying they were interested. This aspiration reduced with age, with less than 1 in 5 (18%) of those aged 55 and over being interested. The main benefit for building is seen as the ability to design a home to the owner's exact specifications (74%), followed by the ability to create a home that can adapt to meet current and future needs (50%). A third of people said living in a home that had less impact on the environment and was more sustainable was a ..... key benefit of building a home (33%), and nearly 9 in 10 people (89%) said energy efficiency would be important if they were to build a new home. Finding the money to finance the project, including mortgage finance, is seen as the biggest hurdle (59%). COVID-19 In response to COVID-19 the data found that: Almost 2 in 5 (39%) said the pandemic has made them need a home office space. Almost half (48%) said they would like more space because of the lockdown. 36% said they would like more indoor space and 37% said they would like more outdoor space. Nearly a third (31%) have considered home improvements at some point in the future because of lockdown. 1 in 20 (5%) considered designing and building their own home in response to the crisis. SELF BUILD INSURANCE Before carrying out any new self build project, it is important to ensure you have self build insurance in place to offer protection and piece of mind against potential pitfalls or risks. ProAktive are a leading provider of self build insurance, for more details please visit: www.selfbuildinsure.co.uk/self-build-insurance ProAktive Doncaster: 01302 346 831 | Follow us O00 www.selfbuildinsure.co.uk