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How Do I Plan my Budget for a House Extension in 2024?

A Comprehensive Guide to Planning a House Extension budget in Glasgow


Planning & Budgeting for House extension
Planning a budget for a house extension

Introduction - Planning & Budgeting for your House extension


Expanding your living space through house extensions is an exciting prospect. However, it can also be a daunting task, especially when it comes to budgeting. The cost of house extensions in Glasgow and other parts of the UK varies significantly depending on several factors such as the size, design, and materials used. This blog post will guide you on how to budget for your house extension project effectively.



Understanding the Costs Involved



The first step in budgeting for a house extension is understanding the costs involved. The average cost of house extensions in Glasgow ranges from £1,000 to £2,000 per square metre depending on whether it's a basic or high-end extension. However, these are just averages and actual costs can vary significantly.



The main costs involved in a house extension project include:


1. Architectural or designer fees: These fees can range from 3% to 7% of the total construction cost.


2. Planning permission: If your extension requires planning permission, this could cost between £150 and £200.


3. Building regulations application: This could cost around £500.


4. Construction costs: This is usually the most significant part of your budget and includes labour and materials.


5. Additional costs: These include VAT at 20%, plus any unforeseen costs that may arise during construction.



Setting Your Budget


Once you understand the costs involved, you can start setting your budget. It's advisable to get quotes from several builders or contractors to get an idea of how much your project will cost. Glasgow Extensions & Conversions are just one of a number of professional building firms, based locally in Glasgow and can help you with free quotations, estimates and other advice on getting started.



When setting your budget, consider all aspects of the project including design fees, planning permission fees, construction costs and any additional expenses that may arise during construction such as unexpected structural issues or changes in design.



It's also important to set aside some money for contingencies – typically around 10% to 20% of the total budget. This will cover any unexpected costs that may arise during construction.



Choosing the Right Contractor


The contractor you choose can significantly impact the cost of your house extension. It's important to choose a contractor who is experienced in house extensions and has a good reputation for quality work.



When choosing a contractor, get quotes from at least three different companies. Make sure these quotes include all costs, including labour and materials, so you can compare them accurately.



Remember, the cheapest quote isn't always the best. Consider the quality of work and the reputation of the contractor as well as the cost.



Managing Your Budget During Construction


Once construction begins, it's important to keep track of your spending to ensure you stay within your budget. This includes keeping track of all invoices and receipts and regularly checking these against your budget.



If you find that costs are starting to exceed your budget, it's important to address this immediately. This could involve negotiating with your contractor or making changes to your design to reduce costs.



Conclusion


Budgeting for a house extension can be challenging, but with careful planning and management, it's possible to create an amazing new space without breaking the bank. Remember to understand all costs involved, set a realistic budget, choose the right building contractor and manage your spending carefully during construction.



Experienced builder Stan, from Glasgow Extensions & Conversions Says: House extensions in Glasgow offer an excellent opportunity to increase living space while adding value to your property. With careful planning and budgeting, you can make this dream a reality without unnecessary financial stress.


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