Setting up Practice
The Cost of Extending
Introduction
So, you need more space and are thinking of extending – this week we take a look at the cost implications versus the added value of a single storey extension.
Transform your downstairs
A single storey extension can completely transform the downstairs of your home and the way you live in and occupy its spaces. A well designed addition should feel seamless, proportional and improve the natural flow of the house.
Extending out on one level could provide options such as open plan living, a home office, a utility/boot room, a cloakroom or playroom, plus better access to your garden opening up often unused or underused outdoor space as well!
There are lots of options so it’s worth knowing which add financial value, but also which will add the most value to your use of your home.
What’s the cost?
Guidelines for average build costs vary with the standard of finish and type of materials used. For ease these costs per metre squared for the South West can be grouped into three categories:
| Standard of Build | Cost of Build per sqm | Cost for a 4m x 5m |
|---|---|---|
| Basic | £1,500 – £1,900 | £30,000 |
| Good | £1,900 – £2,200 | £38,000 |
| Excellent | £2,200 – £2,400 | £44,000 |
Professional fees
Remember, these are a guide to build costs only, other costs that are likely to be incurred and must be considered for inclusion in your budget are Professional Fees:
Costs will vary depending on the size of the project
| Architect’s Design Fees | 3-7% of Build Cost |
| Site Survey Costs | £500 – £15,000 |
| Structural Engineers Calculations | £500 – £1,000 |
| Architect’s Drawings (Planning & Technical) | £2,700 – £4,000 |
| Planning Permission Fees | £206 |
| Certificate of Lawful Development | £103 |
| Architects Fee to Tender, Appoint Contractors & Administer Contract | £900 – £2,100 |
| Project Management by Architect or Lead Contractor | 15-20% of Build Cost |
| Building Control Fees | £200 – £900 |
| VAT | 20% |
Sneaky fees
| Discharging Planning Conditions | £34 per request |
| Part Wall Surveyor | £700 – £1,000 |
| Tree Report | £250 |
| Flood Assessment | £250 |
| Ecology Reports | £400 |
| Archaeological Report | If site has historical merit |
| Historic Building Report | If property is listed |
Interior fit out
Working out a cost per square metre for interiors is very tricky as everyone has differing taste and different requirements for standard of finish.
A rule of thumb for a spend on any property is to keep the quality and expense of interiors on a par with the value of the property as a whole. A great example is kitchens and bathrooms – costs of theses vary wildly from budget basics to hand crafted, bespoke options. Avoid under and over investment however tempting it looks in the showroom!
Top Tip
Match your interior spend to your property value – i.e. don’t put a budget kitchen in a luxury mansion, equally don’t overspend by putting a high end, luxury kitchen in a typical family home.
So, now you have an idea of what the costs are likely to be when adding a single storey extension to your house. What you need to know next is, what will this add to the overall value of your home?
Financial value is not the only consideration though, it is important to factor in the ‘Lifestyle Value’, that is how much better will your and your family’s quality of life be, with the extra space you plan to add on. This sort of value can’t be quantified with pound signs, but is of great importance and should be given plenty of thought and consideration, especially when designing how the additional space will be used.
Value added
Example values that can be added to your home:
- New Kitchen: 5-15%
- New Bathroom: 3-5%
- Add Open Plan Living: up to 20%
- Adding Usable Floor Space (i.e. Living Room, Utility, Study): 5-7%
- Additional Double Bedroom & En-suite: up to 23%
We can help
The clever move is ensure you don’t spend more on your extension than the additional space will add to the value of your home!
WE CAN HELP
If you’re considering adding extra space to your home then we can help! Studio Arkell are offering a 1 hour Free Design Consultation special offer to homeowners within a 15 mile radius of Christchurch, Dorset. Call us on 01202 232423 or contact us now to book an appointment.
*sources: planningportal.co.uk, realhomes.com, propertytribes.com, job-prices.co.uk, propertypriceadvice.co.uk, nationwide.co.uk.
