The Cost of Building Your New Home
A realistic budget is critical for the success of a project and unfortunately there is a lot of misleading cost information on the internet and TV that is often out of date or is based on self-builders actually providing the labour themselves and assuming they have the spare time and the skills. Building costs rise every year due to material and labour shortages, increased building standards and fluctuating exchange rates for EU imported products.
To give a sense of what is a realistic build cost we have tabulated current approximate construction costs based on completions of recent projects. There are two tables: one for new builds and one for extensions and both are based on your desired internal floor area in square metres. New build home projects are generally zero rated for VAT while extensions will usually be subject to VAT at 20% which will need to be added to the figures in that table.
Other costs to be aware of include site/building surveys, tree survey, ecological survey, traffic/access survey, planning and building control application fees, consultants fees for structural engineering, lighting & smart controls, mechanical & electrical services, landscaping/garden design and of course your architect’s fee.
Our fees will typically fall within the range of 5-15% of the project build cost depending upon the size and complexity of the project and whether it’s a new build or works to an existing property. Works to existing homes will generally be at the higher fee percentage due to their complexity and potential for unforeseen issues.
If you’d like to speak with us about your proposed building budget please get in touch at: info@koruarchitects.co.uk or call us on: 01273 204065
You can find the fifth chapter of our guide here: 'Getting Planning Permission'
