When’s a good time to self build

[nod]

Probably now is a good time to self build Material prices have settled The majority of housing sites are working to sales and mortgage rates seemed to have peaked 

I wouldn’t envisage labour prices going down But contractors will have to base there quotes on hours spent rather than thinking of price and doubling 

 

I wouldn’t imagine land prices will drop Much But at least it gives you time to think before buying 

 

[SteamyTea]

Isn't it like the best time planting a tree.

40 years ago, or today.

[ToughButterCup]

1 hour ago, nod said:

..... But at least it gives you time to think before buying 

 

Excellent points Gary and @SteamyTea

Could I just add one further aspect for potential self-builders to consider :  optimism bias.

 

A few years ago @Jeremy Harris ( the self-builders self builder ) wrote ( in a post started by @SteamyTea ) about the notion of optimism bias   here

Quote

  .. a phenomenon that was recognised in major military projects years ago.  We gave it the name "optimism bias".

 

He goes on to argue ( in the same thread) 

 

Quote

...

I strongly suspect that self-builders are very prone to "optimism bias", for a few reasons.  Few self-builders have much experience of the way that houses are built, and a lack of knowledge can add a lot of cost.  Similarly, few self-builders have experience of quantity surveying, so most probably leave out some elements (by oversight) and assign optimistic costs to other elements.  Finally, I suspect that "mission creep" happens a fair bit, where the spec gets enhanced during the build, with a corresponding increase in the cost.

...

 

I would add that not only are we self-builders - that is people who are actually working on their build - likely to be optimistic by nature (?), but we also tend to solve problems by Doubling Down  .  And doesn't every self build have a good few times when gritting your teeth and JustBloodyDoingIt is what's needed. 

 

Doubling Down is not the only strategy we use. But I accept that that it's in some other contexts  an over-worked term these days

 

Doubling Down on effort and commitment has served many of us well : O Levels > A Levels > Trade Qualifications > Degrees > Professional qualifications > Doing More with Less > looking after parents > grandchildren > Nothing's Too Much Trouble

 

.... until suddenly it is.

 

Doubling Down doesn't work any more - because you just can't. Force Majeure.

The point I want to make is that the self-build pathway is not only financial. It's not just about cost.

And the problem solving  strategy that you've developed in your professional career (Doubling Down)  won't necessarily serve you well in a self-build. 

 

Which is another reason why BuildHub is such an excellent resource. The ability to share  a FooKoop  with interested committed online colleagues is invaluable

 

[Alan Ambrose]

Before the town & country planning act of 1947?

[SteamyTea]

46 minutes ago, ToughButterCup said:

Doubling Down doesn't work any more

Not since the Rwanda policy.

It often shows an ignorant disregard for failed ideas.

Think Zoot and running his heat pump, he refused to try anything that was suggested.

[ToughButterCup]

38 minutes ago, Alan Ambrose said:

Before the town & country planning act of 1947?

 

Well there's force majeure in action for you  (here)

[ToughButterCup]

2 minutes ago, SteamyTea said:

Not since the Rwanda policy.

It often shows an ignorant disregard for failed ideas.

Think [...] running his heat pump, he refused to try anything that was suggested.

 

The thing is, exposing your thinking here (in the form of a post)  is both challenging and valuable. But the final decision is still the responsibility of the OP. At least the guy was courageous enough to post about his heat pump here - and obviously prepared to put the effort in.

 

In @Jeremy Harris terms the  '... ignorant disregard for failed ideas ... ' could well be seen as optimism bias.

[SteamyTea]

1 minute ago, ToughButterCup said:

 

In @Jeremy Harris terms the  '... ignorant disregard for failed ideas ... ' could well be seen as optimism bias.

Or cussedness/stubbornness.