Build an Extension to Save Costs
A DIY Manual can help
Since 2007, the number of people moving home has halved. There has been a real economic downturn and it is increasingly difficult to sell a property. But there is a solution to improving your present home. You can build your own extension and avoid Stamp Duty, which you can use towards your extension costs.
You can also avoid the worry of wondering how long it would have taken to sell your own property. A year is not a long time for a property to be up for sale.
But Where to Start?
Here are some tips to help you reduce your building costs for your new extension.
Keep the design simple. As soon as you try to merge curves and corners you will increase the cost. So make the shape either a rectangle or a square. A simple pitched roof is cheaper, too.
Use standard materials, don't choose anything fancy, and make sure these materials are easily available. Do not choose materials that have to be shipped in from another Continent. Using concrete block work for walls will make the job simpler.
Avoid any groundwork for your extension that is near drains, or other underground services or even trees, if possible, as costs will increase here.
Labour costs are extortionate, between a half and two-thirds of your budget. If you feel able to do some of the work yourself you will be able to save a significant amount of money on your extension.
Tackle the easiest jobs like labouring or decorating or landscaping and then if you feel a little more confident consider fitting some kitchen units or skirting boards.
There are plenty of DIY manuals around to guide you through the processes but only tackle what you feel you have the basic skills for. And you must be prepared to give up the time to do it. You must take your time on these jobs, otherwise you may find you've completed sub-standard work. Then, of course, you'll have to pay someone else to put it right and you will have wasted the materials.
Project Management of the Building Extension
You will find that a builder will add on 20 % to your final bill to manage the project. You can manage the building of the extension yourself by liaising with designers
Save on VAT
Most extension building will have 20% VAT on labour and materials. However, if you use self-employed tradesmen who turn over less than the threshold for VAT registration, you will not be charged VAT, thus saving on labour costs.
If you buy second-hand materials advertised on the Internet they will be also free of VAT.
Keep Friendly with the Neighbours
If your building extension is on or near the boundary of a neighbour, your building extension will need to comply with the Party Wall Act. If you have a party wall settlement then you could incur costs of around £600 and even more if they use their own independent surveyors. Try to get an agreement in writing and avoid surveyors. Keep your neighbours informed of what you are doing at every stage, discuss your plans with them, and be considerate about any concerns they may have. Imagine you are the neighbour and they are building the extension!
Save on Fees
If you are building an extension
There are cowboys in every trade and if you are project managing the building yourself you need to be aware of these people. Approach several builders and ask for extension quotes from all of them.Those who give you the least breakdown of costs may have plucked a figure out of the air whilst a ridiculously low extension quote may be to draw you in before they demand more money at a later date.
To avoid a costly experience, insist on references from these builders and check out their earlier work. Never pay a builder in advance unless with a protected account. Wait until the work has been completed and you are entirely satisfied with it.
If you are measuring for the building extension yourself make sure you measure once and then measure again. You may find that making mistakes that waste both materials and labour are costly. Take that bit of extra time in the early stages of design and planning and you will save money. Thorough design should avoid putting plumbing in the wrong place, hanging doors badly or getting floor levels accurate. Once it is right, stick to your plan as making changes later will be costly. Always consult the DIY Manuals for guidance.
Reuse, Recycle and Repair
In this climate of tight economic conditions it is advisable to reuse materials where possible. You can recycle doors, old floorboards, kitchen units and bathroom materials by cleaning them up and giving then a new finish.
If you can't reuse some of the items then sell them. The money you make will, again, save on you overall costs.
Buying salvaged items from salvage yards or the Internet can save money as can buying second-hand items. Second hand items offering good value are bricks, roof tiles, internal doors, fireplaces and floorboards.
Negotiate Trade Discounts
Research where those in the trade buy their materials from and try to get trade prices for your building extension materials. Check if they will offer a trade discount for cash. Get a receipt for the purchases as this is a good way of keeping a close eye on what you are actually spending on the project.
If you bulk buy from the same supplier you may be able to negotiate a better discount and reduce delivery costs.
You can also save a lot of money by buying end-of-line deals like carpets, kitchens or appliances. Shop around for the best deal.
Building an extension will take a lot of detailed pre planning, a great deal of research to find the best suppliers and tradespeople and close reference to DIY Manuals. Most of all you will need time and patience.But building an extension will give you years of added pleasure and a great deal of satisfaction knowing that you were involved in the project at some level, either as the labourer, the Project Manager, the decorator, or the researcher.
You will have also avoided the worry of wondering whether you would have eventually sold you property in its original state!
DIY Manual to answer all your questions
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