Why would the One-for-Two house be so cheap?
This question is answered by looking at some of the reasons houses are so expensive to begin with.
Land is a huge factor, especially in London. We want to combat this by using land which is unattractive for conventional developers. The model of a self-builder means the individual attention these spots of land require is provided.
This model is pinned on Local Authorities signing up and allowing self builders to use this land. Why should they do this?
- It is land that isn’t currently being used.
- It is land that is too small and awkward to be of much interest to private developers, so they can’t be sold by councils for large sums of money
- If a private developer were to buy these plots, they wouldn’t be required to put any affordable or social housing onto it.
- Our model means councils would retain ownership of of the land, get a continuous income from the leasehold, and be free to use the land at the end of the leasehold for whatever they choose.
- One-for-Two builds are an opportunity to improve the estate they sit within.
Self-building provides the next big cost saving in our model. Self-build enables a smaller cost of construction at the same high level of quality at an estimated £1,600 per sqm, compared to a typical £2,500 per sqm in London.
Self-build projects are carried out with closer scrutiny and practical decisions which can reduce their cost compared to developer-led projects.