Financial adviser Mr Paul O'Neill is all too aware of the many frustrations and potential pitfalls involved in building your own home.
Last December, having sold the house he owns with his wife Maura in Midleton, Co Cork, Mr O'Neill was told that his application for planning permission had been rejected.
The removal van, due to arrive 24 hours later, had to be cancelled and the buyer for their house told that the sale was off. The couple had been hoping to build a four-bedroom bungalow on the south-facing, sea-view site, but rather than appeal to An Bord Pleanála, they decided instead to put a deposit on another site.
The new site already has outline planning permission attached and the O'Neills are now waiting to be approved for full planning permission.
Despite the obstacles, Mr O'Neill, aged 30, firmly believes in the principle of "self-building your way up the property ladder". With a market value of 270,000 on his current dwelling and a mortgage of just 160,000, the O'Neills already have equity of 110,000 with which to play.
Sites in Midleton cost around 100,000, he says. "If you're paying anything less than that, you'll be out in the sticks, with no neighbours."
Building costs will come to about 150,000, while the local development levy, although not yet in effect, could add about 8,000 to the cost of the project, Mr O'Neill estimates. The balance of the total costs will have to be borrowed, but the 2,500 sq ft bungalow, once built, will have a value of €400,000. This means getting the finance will be the easy part.
"Location, location, location" may be property advisers' favourite mantra, but it shouldn't be ignored, he says.
"You have to find the site that suits you and is in a locality where you will send your kids to primary school. We could buy a cheaper site north of Midleton, but it wouldn't be as close to amenities."
The house, if it goes ahead, will be the couple's second self-built project.
The first time they used the cheaper option of direct labour to build a timber frame house.
"You have to have the time to do this," he warns. "You're going to be choosing the windows, the doorframes... You'll be spending every weekend at it, choosing the worktops, the lighting, everything. It's not like going to see a showhouse and saying to the auctioneer, give me that."
Sometimes people, when faced with too many choices, end up not being able to make any at all, but Mr O'Neill claims he is not afflicted by the condition. "I'm a decision-maker," he says.
Self-build insurance cost the O'Neills 3,175 three years ago. Prices have increased since then, and there is a limited market, however Mr O'Neill strongly recommends taking out cover. "I know some people think it's dead money, but I wasn't going to take the chance."
There were two robberies on the site during construction and he made a successful claim to cover roughly 2,000 worth of stolen plumbing supplies.
This time around, Mr O'Neill is using the timber frame company's full construction service. "You pay more, but it is worth it."
He also recommends that people do not hand over final payments to the builder, contractor or timber frame company until the house is fully completed and the engineer is satisfied.
Sometimes the only way people can afford to own their own property is to build, rather than buy, Mr O'Neill notes.
"People also self- build because they want to be different, they don't want to be part of the sausage machine."
Laura Slattery
