Home Cost Guide: What You Need to Know Before Spending
Thinking about the price tag on a new house, a big extension, or fixing a cracked foundation? Most people underestimate how fast costs can add up. This guide breaks down the biggest expense categories, shows realistic price ranges for a typical UK project, and gives you simple tricks to keep the budget under control.
Major Cost Drivers in a Home Project
1. Construction or Build Cost – When you build from scratch, the average per‑square‑metre price sits between £1,500 and £2,200 for a standard three‑bedroom house. Luxury finishes, specialist timber frames or eco‑materials can push that number over £3,000 per m².
2. Foundation Repairs – A crack wider than 2 mm usually means a professional should look at it. Small hydraulic cement fixes may cost £300‑£800, while full underpinning can run £8,000‑£30,000 depending on depth and soil conditions.
3. House Extensions – Planning permission isn’t always needed for modest projects, but the cost still matters. A typical 15 m² single‑storey extension costs £15,000‑£25,000; larger or two‑storey works can exceed £50,000.
4. Interior Finishes – Kitchens, bathrooms and flooring eat up a big chunk of the budget. A mid‑range kitchen remodel averages £8,000‑£12,000, while a budget bathroom can be done for £3,000‑£5,000 if you stick to stock units.
5. Professional Fees – Architects, structural engineers and surveyors typically charge 5‑15 % of the construction cost. Skipping this step may save money now but can lead to costly mistakes later.
How to Keep Your Home Cost in Check
Start with a clear, written brief. List everything you want – from the number of rooms to the type of flooring – and rank each item by importance. This makes it easier to cut or replace lower‑priority items when quotes come in.
Get at least three quotes for every major trade. Most builders will lower their price if they see competition. Ask each quote to break down labour, materials and any contingency sum.
Plan for a 10‑15 % contingency fund. Unexpected ground conditions, delivery delays or design tweaks are normal. Having a safety net means you won’t have to halt work when a surprise pops up.
Consider phased construction. If you need a loft conversion but can’t afford it all at once, do the structural work first, then add interior finishes later when cash flow improves.
DIY where you can. Tasks like painting, demolition or simple tiling can save £1,000‑£3,000. Just be honest about your skill level – a botched job can cost more to fix.
Remember, the cheapest option isn’t always the best. A cheap cement mix might crack after a year, leading to bigger repair bills. Look for value: quality materials that last longer, even if they cost a little more upfront.
Finally, track every expense in a spreadsheet. Seeing the numbers side‑by‑side helps you spot overruns early and adjust plans before they snowball.
Whether you’re building a new home, extending the kitchen, or fixing a foundation, understanding the real cost components and planning ahead can make the difference between a dream project and a financial headache. Use these guidelines to set a realistic budget, stick to it, and enjoy the finished space without regret.
