“It is important to note that dwelling is a process. A house is not a product, it is an ongoing piece of careful, creative work”
Dominic Stevens, Domestic
Naked House is a new generation housing developer that is
not for profit.
We started as a group of young Londoners who decided to develop our own affordable housing model. The idea was born out of desperation as we struggled to find a home that we could afford and that was designed with us in mind. We were frustrated with the “affordable” housing delivered by housebuilders and housing associations. Shared Ownership homes were often uninspiring, badly designed and over-priced.
Do it ourselves
Our model goes back to basics – saving build costs by creating communities of genuinely affordable 'naked' homes.
The Naked House unit will be a well-designed shell. It will provide a base layer that can be built on, improved, adapted and extended over time by the occupant. We have taken the banks’ requirements for getting a high-street mortgage as our brief. The Naked House unit will meet these requirements and nothing else.
Keep it affordable
Driving down build cost is only part of the equation. To make homes genuinely affordable, you need to work on every component of the house building process. We have taken what a traditional housebuilder does, taken it apart and turned it upside down.
Land cost is a significant component. Onsome projects we have removed this cost by developing a leasehold arrangement on public land. This enables us to sell Naked House units for what they cost to build and nothing more. The occupant then pays a monthly ground rent to the Council who owns the land. This brings long-term revenue to cash strapped local authorities and makes the homesmuch cheaper at the outset.
We are not making a profit, so there is no 20% developer profit margin built into our model, just income to cover operating costs. And there are no sales and marketing costs. Anyone can sign up for a Naked House as long as they earn under £90,000 (the government’s current income threshold for eligibility for affordable intermediate housing). We don’t need fancy show homes or sales brochures. The homes will speak for themselves.
To ensure that the Naked House units remain affordable in perpetuity, we have a resale covenant in the lease. This locks in the original discount for subsequent purchasers.
A replicable model
Naked House has established relationships with a number of local authorities and housing associations and have received funding from the GLA. We were one of the winners in the New London Architecture completion for New Ideas for London and are part of the team for the British Pavilion in this year’s Architecture Biennale in Venice.
The Naked House model can be replicated, so we are working to secure other plots of land across London. Over 300 London households have joined the project already and we’re growing every day.