All right you clever self-builders, I need your help.
I've found the perfect site with an existing derelict bungalow on site. I want to knock it down and rebuild a super eco-friendly timber frame dormer. I could realistically contribute £220k through savings and a self-build mortgage, but this community has shown me I'll need £300k + contingency to make this happen.
I could save up for a year to make up the shortfall, which is fine. But the plot will likely be gone by then.
So I need your help. What are other ways we could do this?
Things I've ruled out:
Massive inheritance (our parents are broke)
Personal loan from family (again, our families are both broke)
Build it ourselves (we have no DIY skills. Seriously. We'd botch anything we try. Plus, we want to build it within a year because we're currently renting)
Beg friends to help (we don't know anyone in the area)
Take out a bigger self-build mortgage (we can't afford rent + a mortgage payment)
Live with family so we don't have to pay rent (nearby family don't have enough room for us)
Live in a dodgy caravan on site (we've got an energetic toddler...health & safety nightmare)
Build a smaller house (it only costs £20k more to get what we really want and will last us for years, instead of something that's just ok for now)
Sell a kidney (I was only born with one)
Is there any merit to these ideas?
Only finish the bottom floor, then do the dormer when we have more money (is there any issues with a self-build mortgage if we don't fully finish the dormer?). I know we'd lose the 20% VAT refund opportunity
Wait for details on the government's "Help to Build" scheme, due later this year
Look into possible green scheme grants, though I know the gov't shut down the recent programme and it only applied to existing houses. The existing house is a 1930's un-mortgageable timber frame with an 'E' energy rating.
What ideas am I missing?! No idea too outlandish (except for organ donation, because I need all of mine right now...)