How much does a project cost?
Why is it important to know your Budget at the start of the project!
Architect’s HQ Ltd recommends that every project big or small starts with a cost estimate so you fully digest where the money is spent and more importantly that your project is feasible and budgeted adequately.
As you take when someone tries our free calculator below, each estimate will vary as every project is different due to their location, type, size and specification. With our vast experience of working on all size and types of project we have in-depth knowledge of the latest market rates to apply to your project.
Project Cost Calculator
Certain additions can vastly increase the value of your project. But before you pour money into a project, it’s important to know what return – if any – you’re likely to get. Also how do we know we’re splashing all that cash on the right projects? At Architect’s HQ we have the right experience on offer and will guide through difficult stages with essential advice to how to add significant value and to ensure you get the best return on your investment.
Generally, we advocate the following principles before you start any project to manage your expectations can be successfully delivered;
- By using our Build Cost Calculator we can assist you to establish a true budget for your project
- Even better, you can change and review your expectations at any time by updating your budget estimate with detail what type of design and spec you may want.
Typical Extension Build Costs 2018
Budget Cost Breakdown for typical Commercial or Domestic Project
| Average Extension Build Costs In £ per m² | |||
|---|---|---|---|
| (Costs for 2018 in North of England) | |||
| Basic Spec | Medium Spec | High Spec | |
| Single Storey Extensions | £1,250 | £1,825 | £2,500 |
| Double Storey Extensions | £1,000 | £1,600 | £2,200 |
| Basement Extensions | £2,000 | £3,000 | £4,000 |
| Refurbishments | £500 | £1,250 | £2,000 |
- Material & Labour
- Reserves for Unforeseen Events
- VAT
- Statutory Permissions
- Party Walls Application
- Design Fees
Typically each Construction Cost (or Contract Value) will take 50 – 60% of the budget for a house extension. It is vital for each project you set aside a 5% contingency for unforeseen items and 20% for VAT payment (however for domestic project if the house has been empty for 2 years then VAT can be 5%, of which is a great potential saving) and this will take it up to about 85%. You need to set aside about 5% for Planning, Building Control and Party Walls and finally 10 -15% is on professional fees.
On complicated projects phasing or decanting would be required to minimise disruption and speed up the construction phase.
Why don’t you try out our Project Cost Calculator to give you an approximate overview of your budget cost by confirming a few facts. If you need assistance or clarification, please don’t hesitate to contact us.
Let Architect’s HQ help you develop your project budget cost
The simple approach to arrange the budget for your project is using a pie chart to show how your money is split per activity/stage and provide vital advise you if your budget needs to include abnormal cost, such as retaining walls, deep foundations and other fee applicable to your project.