DO ALL BUILDING BUDGETS GET BUSTED? PART 1

Embarking on your building project can be such an exciting time. Unfortunately a project that starts full of hope, promise and expectation can soon become the stuff of nightmares. If I have learnt anything over the last quarter of a century, it’s that having a well organised and realistic budget will be paramount to the success of your project and your overall wellbeing. Read on and take note of the following commonly overlooked expenses.

Can your current hot water arrangements cope with the extra bathrooms, appliances and heating load?

It stands to reason that your current hot water arrangements will have been designed and specified for your existing space and it may not be sufficient once you have added extra footprint, bathrooms and appliances. If it is inadequate pre remodelling then quite frankly you could be in big trouble if you don’t have a realistic figure for a complete upgrade.

Equipment that has been happily chugging along serving 8 radiators, 2 bathrooms and a kitchen may well protest at the thought of your impending extension. Expecting that you can add radiators, wet underfloor heating and extra bathrooms to the current system may well be incredibly optimistic.

Always consult the experts and get a full appraisal of the current systems capabilities and concise prices for an upgraded or replacement system. As always it is a good idea to get several quotes.

This is an expense that is often overlooked when budgeting for renovations and extensions and can add some quite staggering numbers to your budget.

Thinking your garden, drive and paths will just need a bit of a tidy up once the builders have gone.

It starts with the rumble of diggers and dumpers and within a week your garden resembles something akin to a swamp. Then come the network of drainage trenches and before you know it, there are gaping oozing wounds through your drive and garden.

Your building work may be finished internally and be looking mighty fine, however your garden is a wreck and you have to walk the plank to get to your front door. It is impossible to build an extension and not impact the exterior space.

If you don’t plan properly for the exterior building work and consider it as an essential part of your project you may well be frightened to look out of your beautiful new windows. In fact you may want to keep your blinds firmly shut. i think they call that denial. Overlook this significant expense at your peril, or yours will be a life of mud, mud and yet more mud !

Communicate with your building contractor at planning stage and get a realistic idea of the collateral damage your renovation will make to your outside space and then build in a realistic budget for the exterior building and landscaping works. Again get several quotes.

Oh dear we totally overlooked the professionals fees

Given the significant cost of building work it could be a safe assumption that in the grand scheme of things a few engineer’s and architect’s bills won’t make much difference to a build budget. Wrong and wrong again.

Professional fees can really add up and factoring these into your build budget is paramount. Planning approval is not the end of your fees. Typically when you are extending or remodelling your home your architect or designer will work with a structural engineer to produce the building regulations, this is a significant cost and overlooked at your peril.

By the time you are ready to start your building project, typically you will have paid for planning drawings, planning submission, building control issue drawings, building regulation submission and the building inspector’s fee (private of local authority). Depending on your particular project you may also have to have a drains test, soil test, party wall survey, environmental survey: the list goes on and so the costs add up.

In addition to the essential and basic fees, you may want to engage the services of  other professionals perhaps an interior designer or a garden designer would take your renovation or extension from good to great. This all costs money and it all adds up.

More top tips coming soon………………………..