Adding to your existing home is a great way to ensure that you have as much space as possible for your family. It is also ideal if you want to make sure that your home grows with you, without actually having to move home.
Extensions are a fantastic idea for a variety of reasons and many people decide on having an extension because they cannot afford to pay out to move home. Whilst it is true that you can save yourself plenty of money by choosing an extension over moving home, this doesn’t mean that they are cheap to do. In fact, they can cost more than you realise (equally they can be lower that you realise too). It really depends on what you want and the materials that you want to be used.
To help you to plan for this long-term investment for your home, we have put together information that will help you to work out a rough amount that you can expect to pay out for an extension to your home.
You should never have a bad quality extension built on your property, after all, they should be built to last and to stand the test of time. However, there is some difference in the quality of finish that you can expect at the end.
Basic quality is the lowest tier that you can expect to be left with and for this level you should expect around £1,320 to £1,630 per square metre. Moving up to a good level of finish and the price rises to between £1,700 and £2,000 per square metre. Finally, you have the high end finish, which can be anywhere between £1,800 and £2,500 per square metre.
Depending on the size of your project, you may be able to manage things yourself. However, if you are planning something quite major, or you simply don’t have the time to spare to plan and prepare for it, then you are going to need help. Having someone to manage the project (this is likely to be a part of a building contractor) means that you are going to need to pay out for their time, which in turn is an additional cost.
One common issue that arises when it comes to working out the costs of an extension is forgetting to add VAT. Most extensions will be subject to VAT on both the labour and the materials. This is particularly true if you plan to use a contractor to carry out the work. VAT is going to be charged at 20% of the cost of the extension, which when you consider how much the initial amount is, could work out to be quite expensive when added to your final bill.
The important thing that you need to know about having an extension on your property is that no matter what it costs, it is going to be a long-term investment for your home. It will help to make sure that you have plenty of space for your growing family, for your work, for your hobbies or for anything in-between.
Not only this, but by having an extension on your home, you will also improve the value of your home, which means that it will be worth even more when the time comes to sell up and move on.