How Much Is A Home Extension Going To Cost?
I have been in the building industry for over 40 years now and the question most often asked when interviewing or consulting with a potential client is how much is my home extension going to cost?
There are many things to consider before even contemplating what the end cost is going to be and simply giving a cost per square metre would be irresponsible and incorrect without first obtaining all the relevant and necessary information.
We first need to consider what type and how many rooms are required, What the rooms are going to be used for, is there going to be one or two bathrooms? Is a kitchen going to be part of the new extended floor area or is the existing kitchen being renovated? What size are the rooms going to be? Is it going to have a second storey? and so on.
As you can see it is not as simple as a costs per square metre, every home extension is diverse and every need and want is specific and unique, obviously, the more bathrooms your extension has then the higher it will cost per square metre. However, there are some basic techniques that I have developed over the years and use to formulate a price guide or indicative cost estimate for the proposed house extension or renovation.
Should I Extend Or Move?
Moving could cost you more than you think. You need to consider the disruptive effect to family members such as children of school age or university students. To uproot kids from school & friends can be a stressful, distracting, frustrating and detrimental to their school grades.
You also need to consider the financial cost of government stamp duty and the removal and relocation costs. If on the other hand you are contemplating demolishing your home and intend to build a new home, the same applies, with the added burden of high short term rental costs.
The benefit of extending your home, in most cases, will be the increased value to the initial cost of your home, thereby, increasing the total capital value of your assets. There will also be the added improvement and comfort to your lifestyle with the additional living space.
All this can be achieved without the inconveniences associated with moving an entire family. While there would be some form of disruption to your lifestyle while the home extension is being built, it certainly will be a lot less than moving an entire family.
Should I Have Plans Drawn Up Before Getting A Quote?
A growing trend in the industry is having plans or working drawings drawn up by an architect or draftsperson and then sending them out to tender to a number of builders. More often than not the potential client finds they are disappointed and disillusioned with the process because the quotes are more than what was initially expected. What a total waste of time, energy and your money.
The general cause of a budget blow out is, and I have seen this far too many times, the person responsible for the working drawings or plans is not up to date with the actual costs for a house extension. These costs are ever changing from year to year to meet new legislation, regulations, insurance costs and the rising cost of raw materials.
It simply stands to reason that engaging a reputable builder to carry out preliminary drawings and providing a quote according to the design, drawings and budget that has been provided is a no brainer. It would solve the problem of a budget blow out, disappointment and unnecessary waste of time and money.
I have often asked myself what should I be looking for in a builder or building company if I was contemplating on extending my home.
I have come up with a top 5 list of questions which should be helpful when considering to extend or renovate your home.
- Do you want to and are you committed in extending or renovating your home?
- Do you have a budget, how much are you prepared to invest into your home and future?
- Do you want to increase the value of your home and total capital assets?
- Do you want more space, comfort and improve the way you live?
- Do you want a functional design that will meet your budget and modern lifestyle?