What is a non-standard construction property?
Basically, if your property is non-standard, it means it has been built construction materials that are not ‘standard’. Standard construction materials are bricks and stone or roofs that are made with tiles or slates. A material that is non-standard means it falls outside of the ‘standard’ category. This could be a material like wood or concrete.
If you are considering buying a non-standard property, be aware that the costs may be higher for insurance and building maintenance, compare to a standard building.
What properties are classed as non-standard?
There are a variety of types of non-standard properties. These include:
- Log cabins
- Timber framed houses
- Concrete prefabricates homes
What are the issues to consider with a non-standard property?
There are issues that come with buying a non-standard property.
Concrete properties do unfortunately come with their own issues. Most concrete properties built within the UK were built post war due to the homes lost during the Blitz. This was done as a stop-gap measure in order to provide some affordable homes.
The unfortunate problem with concrete properties are the sourcing of materials. These concrete houses come more so apparent over time, so if you decide to purchase one, you will need to source materials that will be covered on housing insurance.
What is a concretes lifespan?
When concrete buildings get older, they begin to crumble and crack. This is due to the steel binding within the walls corroding. However, there is no real way of telling how long it will be until the property completely crumbles. It is hard to know as the materials make it harder for an underwrite to understand the risk the property may face. Therefore, making it difficult to obtain a modern construction home insurance.
What is the demand like for non-standard properties?
In the UK, in terms of concrete properties, there are only one and a half million. The demand for any non-standard properties is usually limited.
Why? Well, simply because people now understand the difficulties that come with these types of properties.
To maintain the issues that come with both a wooden or concrete housing can be hard as there is no way of knowing whether in the past it has bee sufficiently looked after. If there is any improper maintenance on either types of property, it can lead to a loss of market value on the property quickly.
When a modern building does deteriorate, it can be more costly on non-standard construction insurance.
Insurance on a non-standard property
If you do decide to purchase a non-standard property, there are a few things you can do in order to minimise any hassles you may come across.
To start, make sure you know if your property is standard or non-standard. Non-standard are usually sold at auction, so make sure you know before purchasing.
Another tip is to prepare yourself for any extra costs. These may be extra costs from mortgage costs, conveyancing or legal problems. It is crucial to understand that when you sell the property, you
Our final tip would be to make sure you can find an insurer before buying the property. Finding an insurer that will give you a quote beforehand is key to keeping your property investments safe and stopping yourself from losing money
I started writing for PPO back in August 2019. I particularly enjoy writing about new housing developments and upcoming property events.