4 TOP tips when thinking of building an extension
Matt Poole ??
Mortgage Expert for Business Owners | Simplified, Fast-Track Solutions Using Your Business Profits - Not Your Personal Income!
There are many reasons why you may want to extend your family home.
This article will show you what to think about when looking at your options.
It is becoming more and more common to extend your current property rather than move house. It can save the cost of:
- Stamp Duty
- Legal Fees
- Estate Agent Fees
The possibilities are endless with an extension. You could complete a single storey extension for more living space in the property.
You could complete a double storey extension for more living space and an extra bedroom for example.
There's no exact science on how to calculate the cost of an extension but key elements include:
- Location
- Size of the build
- Specification
As a general guide it may cost between £1,000 and £2,000 per square metre.
The main cost when looking at an extension is always the foundations and the roof. So whether you are looking to complete a single storey or a double extension these costs will be similar.
There have been some legislation changes at the end of May for rear extensions. These changes have made it more flexible without needing planning permission. If you have a terraced or semi-detached house then you may go back 6 metres with an extension. With a detached property this increases to 8 metres.
It is always worth checking with a local architect or your local council if you are unsure about planning permission.
The planning Portal website is a great place to start for any information you need on planning permission.
My TOP 4 tips when thinking about an extension are:
- Have any of your neighbours had extensions built? Ask them for advice and how they went about building their extension. Did they need planning permission? Was this done through an architect?
- Use your professional network on LinkedIn. LinkedIn is a great place to look for local architects and builders who can give you guidance on your project. Other social media platforms, such as Facebook are great to ask for recommendations. People will only recommend people who have done a good job for them.
- Make sure you will make a return. By wary of the ceiling house prices in your area. You don't want to invest too much and be out of pocket if you decide to move house in the future.
- ALWAYS add 10% extra to your estimated cost. When tackling a big project like an extension there will always be hidden costs that will come out and surprise you. Always make sure you have a contingency of at least 10% to counteract these costs.
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