How is affordable housing provided in Custom and Self-Build developments?
We have allocated 17 homes (34% of the total number) as ‘affordable’. Some will be offered at a discount to the open market price, some will be traditional shared ownership, and the remaining will be affordable rent.
We feel strongly that Custom and Self-Build should be available to everyone so we would like to offer some plots at a discount to the open market price, not just finished homes, although this has yet to be agreed with the Council.
It is worth noting that Custom and Self-Build provides a small degree of ‘affordability’ over the equivalent traditionally built home. With the buyer taking on more responsibility, lower Stamp Duty Land Tax (as it’s only due on the price of the land), CIL exemption, and the ability to complete homes in stages over time, the same house on the same site can cost a lot less than the usual market price.