Part 2 – How to Set Your Budget

How Much Will Your Project Cost?

A building project is usually one of the biggest investments you'll ever make. Getting a realistic grasp on how much it will cost as soon as possible is well worth it.

It is important to understand how to form a reasonable budget.

We advise allowing between £1250 - £1750+VAT per square metre for all areas of a home being heavily remodelled (structure, finishes etc), and retrofitted (windows, insulation, heating, lighting etc) as part of a project.

For areas of new build construction, allowing between £2500 - £3500+VAT per square metre is a reasonable starting point. Particularly challenging sites with poor access, difficult ground conditions, or projects with bespoke or high end finishes can easily exceed these figures, and many award winning projects are often more like £5000/m2.

On top of these sums, it is important to take account of any Land cost, VAT for construction at 20% for existing buildings, and 0% new builds. Factoring in around 15% on top of the construction cost for professional fees and expenses, and a contingency of around 10% gives you the complete project budget rather than construction cost alone. We will help ground your project in reality with a sound financial appraisal.

Typical construction costs of our projects:

• Side Infill and Rear Extension:
  £100-£125k+VAT

• Rear Extension and Remodel to a Large House:
  £150-£200k +VAT

• Retrofit and Extensions to a Large House:
  £350-£450k +VAT

• New Build 3-4 Bed Family House:
  £500 - £750k

• Large New Build Family House:
  £750k - £1.5mil +

• Private Cohousing Development of 4 Homes:
  £2.5 - £3.25mil