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Right time to build an extension?


Tom77
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Morning,

 

I was just wondering on people’s thoughts as to whether now is the right time to build an extension?

 

I am aware of the high demand but also the lead times on materials and the increasing prices which are causing issues for builders. On top of that it will only increase demand for trades and whether there is enough quality trades available to do the work.

 

I am keen to get a single storey extension but also I am not in a huge rush to get it done either so just split on whether to hang on or go ahead and get it booked.

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There's no right time (or it's always the right time!) If you can get someone to do it now then do it, the market is very volatile at the moment so you might get a higher price, but if you wait hoping to see price decreases, they might never come - there are contract clauses which address price fluctuations which might be worth looking into 

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Went through the same issues, and we decided to delay our build by a year as its very volatile (or was about 3m ago when we made the decision). Finding a builder was virtually impossible as everyone was booked up for 6-12m in advance, at least the good ones.

 

Keeping a keen eye on material prices and the timber futures are now headed in the right direction (downwards). Remains to be seen when this is reflected in end user prices.

 

Labour wise, I'm fully expecting this to be higher due to general market conditions and the shortages we're seeing across the economy anyway. 

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  • 2 weeks later...

Just received a first quote through from a Design & Build Company for a side single extension and also a slight extension to the back to make it level in the Manchester area.

 

Quote has come back at £97,000 which I wasn’t expecting anywhere near that based on people I know who have had extensions in recent years. Obviously other costs which would be a new kitchen and flooring which would be needed to be added on.

 

Will see how things look when I get a few more quotes.

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12 minutes ago, markc said:

£2771.00 per square is on the high side but anyone quoting at the moment is/can exaggerate their prices because they don’t need the work. Plus extensions can be messy and problematic.

 
Okay, appreciate the response and understand the market at the moment means prices have gone crazy.

 

Not in a desperate rush, so would rather sit it out and see how things settle next year.

 

Would be easier just buying a new house, although preferable would like to design our current one as we want it.

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  • 2 months later...

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