The cost of a homebuilding project is a key concern for those considering embarking on such a venture. A few decisions will need to be made prior to calculating an accurate estimate, as the total depends on a number of different factors.
Site – the location and conditions of your plot of land will influence the cost of your build. Where you are in the country will affect how much trades will charge, for example, a carpenter in central London is likely to command a greater fee than one who operates elsewhere. If your land is in a remote position, then this will increase costs in terms of connecting services. Restrictive access could cause issues and also affect delivery charges if goods need to be double or even triple handled to reach you. The topography of the site can impact costs, for example, if a crane needs to be used or the property needs to be split level. Soil conditions are important to consider, if anything other than standard foundations are required, this can detrimentally affect the budget.
Design – the complexity of the design will be a factor in determining expenditure. If your home includes a complicated roof structure, large glazed sections, vaulted areas and other bespoke features then this will be much more expensive. You’ll need to weigh up whether the money needed for such features is worth the additional cost.
Specification – the finish you want for your home will, of course, impact what you will be spending on the build. If you want a state-of-the-art contemporary kitchen, home automation, a swanky bathroom and renewable technology incorporated into your house, then this will be more expensive than having standard fixtures and fittings. It is easy to get carried away with all that is available on the market, but do think about what elements are important to you, your family and the way you want to live. Some things may be nice to have, but could easily exceed your budget.
Build Route – the method of construction you choose has a major influence on the costings of a project. If you are hands-on and plan on physically building the house yourself, this can be the most cost-efficient approach. But not everyone has the skills or time to do this. If you want to be majorly involved but aren’t confident you’d be able to carry out the required work yourself, then you may want to project manage the build, bringing in professional trades such as groundworkers, electricians and carpenters. This can save money but involves a lot of responsibility and is essentially a full-time job, so is not suitable for everyone. If you decide the best route is to hire a main contractor then they will take on the project management role, but you will pay more overall for your home.