Budgeting
Extensions
Most builders will estimate the cost of an extension on a square metre or square foot basis. The average cost in London is about £2200 per square metre. This covers a standard basic build including standard quality fixtures and finishing. If a build is technically difficult, for example, lots of glass, very expensive kitchen, bespoke roof, difficult ground conditions etc. this cost will escalate accordingly. Obviously if you build a single story extension you're going to incur the same amount of costs in the ground as a 2-story extension, so it is better value to build a 2 story building as the cost per square metre goes down.
Tradespeople
If you're looking for qualified tradesmen on a daily basis, expect to pay anything from £150 - £250 per day for one or 2 days' work - with discount if the work continues for a longer period. With this you should get a thoroughly professional and guaranteed service. Don't be taken in by adverts that list membership of a string of organizations. These federations are normally just clubs that you pay an annual fee to be a member of and few of them actually check the quality of work. For example, most plumbers that are time-served are more than capable of doing any job, without the need to be Corgi registered.
Renovations
Renovations are the most difficult building projects to quote for. Especially in older properties, where you really don't know what you're going to find until you find it. It's very rare that a renovation job runs smoothly or on budget. Under these circumstances you'd be wise to make sure that whatever quote you receive, you'll keep an emergency fund of around 30% extra to meet unforeseen costs.
Our advice on renovations is: don't live in the house while the work is being carried out! Move everything out and put it in storage. You'll recoup the costs because the job will be done much faster. Water & electricity can be turned off & the job will be finished much faster and with much less stress all round.
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