Beat the property blues - build your own home

Struggling homeowners feeling fazed by current mortgage misery should consider building their own home in a bid to endure market uncertainty.

The National Self Build & Renovation Centre said self-build schemes, domestic extensions and renovation projects remained accessible options, despite the credit crunch.

Tim Doherty, managing director of the centre, said current economic conditions made these options even more appealing.

The government has called for more affordable homes to be built but the number of developments being created was "already behind target", according to Mr Doherty.

He said the chances of enough new homes being built over the next few years was diminishing.

"With major housebuilders practically on stop across the country and the falling house prices now may be an ideal time to consider renovating or building your own home," Mr Doherty said.

The benefit of lifestyle renovation and self-build was that they were not so market-sensitive and such projects did not need a guaranteed sale.

And with fewer developers trying their luck in uncertain market conditions, Mr Doherty thinks more land should become available for self-builders.

He said: "Changes to the planning bill now make it easier for homeowners to make improvements to their houses with extension and conversions, rather than trying to sell their property.

"So, while the credit crunch appears to have created a lot of economic doom and gloom for some, self-build, renovation, conversions and domestic extensions sill remain accessible and in the current climate are perhaps even more appealing."