Pro­ject plan­ner

If you’re plan­ning to add space to your home, set­ting a re­al­is­tic bud­get is key. Read on to dis­cover what you’ll need to take into ac­count

Real Homes - - Contents -

Dis­cover how much your ex­ten­sion will cost

Get­ting a firm idea of the even­tual price of your ex­ten­sion pro­ject is one of the crit­i­cal paths to suc­cess. You’ll need it pri­mar­ily so you can start get­ting hold of the money – ei­ther from the bank or your own sav­ings – but you’ll also need to have a firm idea of costs to know if the pro­ject makes sense in terms of the ceil­ing value of the prop­erty it­self. The key is not just to have an idea of what the pro­ject might cost, but ide­ally a fixed price that is ac­tu­ally a true re­flec­tion of the real costs. In short, most ex­ten­sion projects cost around £1,500-£2,000 per m2 of new space. So a 30m2 kitchen ex­ten­sion could be es­ti­mated at some­where be­tween £45,000-£60,000. Plus, of course, the dreaded VAT (20 per cent) on top. If that sounds suit­ably gen­eral – that’s be­cause it is. And that’s all you can ex­pect when you have no de­tails or idea of what the ex­ten­sion looks like, or what ma­te­ri­als you’re go­ing to use, or how it is go­ing to be built and by whom. The £1,500-£2,000 price, how­ever, is a very good range of pric­ing based on av­er­ages. Yours is likely to fall within that range, but it might be a bit less if you are able to ➤

Above This side-re­turn ex­ten­sion on a Vic­to­rian home in Lon­don cost £69,400.

The owner man­aged to save money by buy­ing ap­pli­ances at a Miele dou­ble dis­count day, and spent their bud­get else­where in the room with lux­ury Car­rara mar­ble on the cen­tral is­land

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