How Much Will Your Project Cost?

- Part One | Homebuilding & Renovating

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co. Standard is the minimum level of specification typical of most new build developments. from how much work you do yourself.Part One A detailed budget plan will help you to assess the overall financial feasibility of your project.Part One How Much Will Your Project Cost? . 2 of 14 5/12/2013 9:14 AM . size and height of your design. Costs are calculated for three levels of build quality — standard. Please note. figures quoted are based on an average from our build costs tables and will vary according to region. Quality has the largest effect on the cost of fittings and finishes – most notably the kitchen – and external materials but not on the ‘nuts and bolts’ such as foundations.Part One | Homebuilding & Renovating http://www. to the quality of the fixtures and fittings you choose. from the shape. This guide will equip you with an understanding of all of the factors. good is the level of the average self-build home and excellent – whilst by no means an upper limit – is typical of a top-end build. There are many factors that determine the cost of building your own home. especially the banks. comparing total costs with your home’s end value — something many Home Advice Design Completed Projects Product Directory Community Magazine Shows Your Plumbing Problems Solved Competitions You are here: Home > Advice > Costs > Build cost advice > How Much Will Your Project Cost? .homebuilding. Even the region you live in affects build costs because labour prices vary across the UK. How Does Build Quality Affect My Costs? The quality of the specification affects only certain aspects of the total budget. to the level of professional involvement from an architect or project manager. will want to see before they will release any funds. enabling you to plan your self-build project and weigh up your options to get the very best out of your available budget. good and excellent.How Much Will Your Project Cost? . Where Does the Money Go? This is the breakdown of a build budget for the average house. 3 of 14 5/12/2013 9:14 AM .Part One | Homebuilding & Renovating Much Will Your Project Cost? .

external doors and windows. and for three sizes of house. and are based on gross internal floor area (the inside of the external walls). fixtures and finishes. Finally you need to adjust the total by following the notes on these pages. So What Will My Project Cost? Here's how to assess your future costs and understand how they are affected. from standard to excellent. The H&R Average Build Cost Guide shows the average cost per square metre for building new one-off houses across the UK. you will get a good indication of how much it will cost to build your home in today’s market.How Much Will Your Project Cost? . To work out the build cost you need to find the relevant cost per square metre for your project from the table. Figures are shown for three different levels of quality. represents only 50% of the total costs with the balance going on internal trades. the relatively significant proportion of typical expenditure that goes on sanitary fittings sits uneasily against less than half of it spent on a typical heating system. to allow for the economies of scale achieved on larger projects. The entire cost of the exterior.homebuilding. and multiply this by your total floor area. What Can I Afford to Build? 4 of 14 5/12/2013 9:14 AM .uk/advice/costs/how-much-project-cost-one Seeing where the money goes in your build helps to put certain decisions into context. Figures include labour and material prices. These average figures are calculated from real project costs recorded by the Royal Institute of Chartered Surveyors’ Building Cost Information Service. First you will need to work out the total internal floor area of your proposed plans using a scale ruler (or ask your designer to work this out for you). including chimneys. For example.Part One | Homebuilding & Renovating By adjusting these average figures to suit the characteristics of your individual project.

boxing-in. Take away the cost of a plot from your total budget. including design fees and any fees for project management. 3% on plots over £250k and 4% over £500k) and a £6.How Much Will Your Project Cost? .co. supplying materials. planning fees (currently £335 for a new dwelling) engineer’s fees or Building Regulations fees. fitting kitchens and bathrooms. the lower your costs will be.homebuilding. start by getting an idea of your total available budget. appoint the to get an idea of typical plot prices in your area. and statutory inspections as required. DIY Labour If you decide to substitute some or all of the labour costs with your own labour (you can undertake every aspect of the building work with the exception of connecting gas appliances for which you must use a CORGI-registered contractor) you can reduce the average build costs very substantially. fitting skirting and architraves. How Size Impacts on Cost As the size of your intended home grows. the more you take on yourself. brickwork. scaffold. costs per square metre decrease as the house design increases in size. surveyor or engineer is usually retained to put the project out to tender. but just want to work out how large a house you could afford to build. A general rule is If you don’t have any plans yet. The remaining balance is roughly how much you will have to build the house. hanging doors. so if you do all of the work you are allowed to you could reduce the costs further than the table suggests. landscaping. tiling. Supervising Professional On larger projects a professional such as an architect. In practice most DIY self-builders leave the groundworks. first fix carpentry. the fixed costs tend to become less important to the overall budget. then add to this any savings you have and any equity you can release by remortgaging or selling your current home. You can use this figure to work out how large a house you can afford by dividing it by the average build cost per internal square metre for your area and your chosen level of build quality. If this is the case you will need to add an allowance for fees at 5-10% of the total contract value (construction cost). allowing for legal fees and Stamp Duty (1% on plots over £150k. as the building gets larger and starts to require nonstandard structural elements for extra-wide floorplans and openings. co-ordinating the different trades. This is largely because the cost of building more volume does not require a proportional increase in labour and materials. plastering. plant. sockets and switches. however. How Your Own Level of Involvement Affects Costs Project Management Project Management The Build Cost Table shows costs for four different build routes. Talk to self-build lenders (you can find these in the H&R Directory) and find out how much you could borrow. and administer the contract through to completion. As a general rule. Approximately 50-60% of the total build cost is labour. ranging from using a main contractor. to running the build yourself. Make sure you have allowed for this in your budget. The rate of decrease slows. 5 of 14 5/12/2013 9:14 AM . if other factors are kept constant. plumbing and electrics to the professionals and take on the internal second fix trades such as laying floors. Managing the build and doing some of the work yourself can reduce average costs by 15% depending on how efficiently you manage the build.Part One | Homebuilding & Renovating http://www. together with any fees for finance or insurance. etc. and generally requires the same number of doors. and connecting sockets and light fittings. decorating. Design Fees The build cost figures do not include design fees. indicating that there are economies of scale in housebuilding.000 allowance for connecting to services such as electricity and water. Next visit plotfinder.

How Much Will Your Project Cost? . for example. Originally published November 2008 Tags: Finance. Self-build. A square building. in the case of a three storey increased roof pitch. windows. Issue: November 2008 Like 3 Share this: Related Articles: 6 of 14 5/12/2013 9:14 AM . author and H&R Contributing Editor). There are some additional costs involved: staircase. As a general rule. Author: Michael Holmes. doors and wall finishes are affected not only by the area of the building but also by its shape. Shape and Layout The vertical elements such as walls. is more economical in its use of external walls than an oblong building of the same area. the addition of fire doors to create an enclosed 30-minute fire-resistant stairwell as an escape route.000 (Brinkley’s Slope Law proposed by Mark Brinkley. at around 70% of the average cost/m² of the ground or first floors. attic trusses or a traditional cut Some Things To Consider Sloping Sites Building on a sloping site will increase your build costs because of the work involved. Additional Storeys Using the roof space to create an additional attic storey is a popular way to add more living space. Plan. each 5° of slope from level on the site will increase your build costs by £5. The cost/m² of gross floor area for external walling elements decreases as the wall/floor ratio decreases. and. Build costs.Part One | Homebuilding & Renovating http://www. Using the existing volume in the roof is still cost-effective.

co. A lot of people seem to leave some of these considerations out when looking at project costs. Thankyou Anonymous Some great tips here. thank you! Dave .Part One | Homebuilding & Renovating http://www.How Much Will Your Project Cost? How much will your project cost? Part two How much will your project cost? Part three The Hidden Costs of Self-build Self-build Mortgage Enquiry Sign in or register to post comments 7 Comments Anonymous A quick comprehensive run of the basic 'need to knows'.Webmaster @ Builders in Surrey Anonymous 7 of 14 5/12/2013 9:14 AM . Mark @ New homes for sale Anonymous This is a really detailed piece of work and helps in easy step by step processes to determine the realised and hidden costs of a building project. Anyone could benefit from reading this.

Anonymous Great advice. Exactly the sort of info I was seeking.Part One | Homebuilding & Renovating http://www. Anonymous Very well written and nothing superfluous. Well explained and really helpful Anonymous Very usuful and Want the latest advice? Get our newsletter Advice Beginners Costs Build Cost Calculator Build cost advice Project tips Existing homes 8 of 14 5/12/2013 9:14 AM .uk/advice/costs/how-much-project-cost-one Very good advice and guidance. I am building in Spain.How Much Will Your Project Cost? . Very much appreciated.beachlets. Regards Mark but the general gist of what you are saying is very helpful.

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