Ball park 137m2 build cost

[Dan1983]

Evening all,

Just looking to further my knowledge from my introduction post if possible before we commit to a build.

We have had a slightly off putting experience with extension plans so abit cautious at the moment with submitting plans vs final cost etc.

 

Looking to submit plans for a 137m2 house build with 68.5m2 foot print.

The site is on a slight slope but the present bungalow has a larger foot print than the new build so hopefully would not require much mucking away after demolition.

 

We are in Salisbury so in the south of England.

We really don’t want to waste £1500ish on plans and regs again if budget is going to be out or tight again.

 

Will be wanting  a main contractor do do all the work to a fair/ good standard nothing flash, happy with howdens kitchens and bathrooms etc.

The plot all ready has all services as existing bungalow here.

 

Any advice would be great, we know it’s difficult to estimate as every build is different, we have a maximum budget of 240k for a build.

Below would be the floor plan we would submit, brick built with slate or slate composite type roof tiles.

Changes to the plans would be an oak porch and swap kitchen around to allow bi folds out the back.

Thank-you for any extra input

 

 

[Moonshine]

Ball park, allow £1,500 - £2,000 per m2 depending on how dirty your hands get.

That should be do able in your max budget

[Redoctober]

+1 to the above and that is with a main contractor. 

[Jeremy Harris]

Being in the same area, I'd agree, but say err on the high side, as build costs around here are higher than in some other parts of the UK.  There's also an apparent shortage of good contractors now.  Some of the people we used, and who only had short waiting lists back then, are now looking at not taking on new customers until maybe Christmas or the New Year.  I think the multitude of fairly large developments around Salisbury that have ramped back up in the last three years or so are absorbing a lot of builders and trades.

[Dan1983]

Thanks guys our extension started at 75k, then the floor plan didn’t work so a few tweaks to what we wanted we were told 150k, we were happy with that so submitted plans, then went to get quotes and came back 185k!

We have had a child since then and the floor plan would not have worked so back to square 1.

 

Have an ex builder friend who has recently done (bar 3 walls) a complete build telling me my budget is nothing to worry about and the guy that quoted for our extension saying 230-250k after vat back so abit worried about committing.

We need to decide really as our present mortgage deal comes to an end in August so need to commit to borrow the extra or pay the existing 150k back off the mortgage!

[scottishjohn]

always start with --what price will it be easily saleable for when its done ?

price of others that are similar locally,that have been sold recently ?

 just to check it is worth the grief of doing it .

cost of somewhere to live while build is going on  + add a good bit of extra time for builder not completing it on time ,for what ever reason

[Dan1983]

I think our main issues is we love the location/plot.

We want to remain in the village even if we moved, and where we are now is perfect as houses to front and side have been developed so no nasty surprises from them.

Its down a gravel track so no through traffic etc.

We have looked at houses in budget to buy which are bigger than we can build 180-200m2 but it’s the the plot/ location on them that is compromised.

I think we would be all in inc a double garage build for 650k, I’m not sure what final value would be but 750-800k at a guess.

I have set aside an extra 6k at present to rent a property whilst build is going on.

[Jeremy Harris]

I agree with you, as I think I know where you are, and if I'm right the houses either side are significantly larger and on similar sized plots.  The value of £750k to £800k sounds right for that area, maybe even a bit low, IMHO.

[Dan1983]

Thank-you, yes thinking on conservative side.

end house is probably in the million region and other side abit less.

although both are not particularly attractive houses but are 5-6 bedroom so large floor space.

We all have the same size plot. 

We purchased this place in 2011 so money is kind of on our side with regards to our pricing ourselves if we needed to move  

[eandg]

Looking at those numbers it looks a bit of a no-brainer. You'd need to build your founds out of gold to trouble those sort of valuations where I am!

[Triassic]

If your designing a new house on a large lot, think about how it would work if you wanted to extend in the future.

[Dan1983]

We would not be able to extend in the future as this build will use all of our 30% allowable extra floor space, once that’s used that’s it, not even a conservatory etc!

[Pocster]

12 hours ago, scottishjohn said:

always start with --what price will it be easily saleable for when its done ?

price of others that are similar locally,that have been sold recently ?

 just to check it is worth the grief of doing it .

cost of somewhere to live while build is going on  + add a good bit of extra time for builder not completing it on time ,for what ever reason

As a LL and indeed on my build ; this is the first question I ask myself ! What would it be worth finished . Wether an investment or your dream home - there has to be equity in it once complete.

[Dan1983]

I think the main issue is hassle of a build vs moving in this instance.

Bungalow was valued at 600k last summer, in reality we could move and pay all the fees say circa 25-30k and end up with a bigger house but be compromised on location or still need money spending, all in though mortgage wise we would be better off doing this if we bought at say 800-820k

Or for not much more we could stay here and do a build and with VAT saving be marginally better off on the valuation at the end.

[Gone West]

10 hours ago, Dan1983 said:

Or for not much more we could stay here and do a build and with VAT saving be marginally better off on the valuation at the end.

So the question for you is, do you want all the hassle of doing a self build to be marginally better off on the valuation at the end.

[Dan1983]

Being honest not 100% mainly due to the money side of it.

Im sensible with money and worried about going for it with a proper quote etc then running into issues and going over budget etc.

Although I guess most first time builders are like this? And should be fairly safe using 1 main contractor.

It’s the location that makes us want to do this as unless you have unlimited budget it seems every house has a compromise 

[Jeremy Harris]

I think all self-builders have one or two stressful moments during the build, and often they are directly related to things costing more than anticipated.

 

I budgeted on our build costing £1200/m² (in 2013).  I costed everything pretty carefully beforehand, and shopped around a lot to get the best prices on materials.  We went a fair bit over budget, and came in at about £1,380/m², which amounted to about £24k over budget in total.  The main consequence of this was that the build just took longer, as we weren't prepared to compromise on what we wanted, so I just opted to do as much work as I could myself.  Not being skilled meant that things just took a lot longer, as I had to learn the skills as I went along. 

[scottishjohn]

just for a laugh see what you can get in an area thats has low property values,

https://search.savills.com/property-detail/gbglrsgls140163

[scottishjohn]

@JSHarris

In another thread you stated main build was £630per sq m --but your final cost was  £1380 sqm

-just shows the difference between basic shell and finished article -and that how people go way over budget, in the finishing off if not careful ,

which you obviously were

Edited June 5, 2019 by scottishjohn

[Pocster]

2 hours ago, scottishjohn said:

just for a laugh see what you can get in an area thats has low property values,

https://search.savills.com/property-detail/gbglrsgls140163

F me ! I’m buying it !

[scottishjohn]

1 hour ago, pocster said:

F me ! I’m buying it !

unbelievable value   i know 

cos pretty sure the owners ran out of money --so maybe a quick offer under the 1,000,000 might secure it

when you look through the picces you can see where they spent their money

that,s what brexit and threats of another scottish ref  does to house prices

Edited June 5, 2019 by scottishjohn

[Russell griffiths]

2 hours ago, pocster said:

F me ! I’m buying it !

Can you imagine the heating bills. 

[scottishjohn]

3 minutes ago, Russell griffiths said:

Can you imagine the heating bills. 

plenty of space for a GSHP system 

would make an ideal wedding destination /function   hotel  you would think .

big downside i see is only 3 bathrooms --so everyone would expect ensuite now- 

but even then it still looks a gift 

 

 

 

[epsilonGreedy]

On 05/06/2019 at 09:39, JSHarris said:

The main consequence of this was that the build just took longer, as we weren't prepared to compromise on what we wanted...

 

 

Where do the duration-related extra costs creep in? I can think of material price inflation, extending site insurance, regular travel to the new build and temporary home rental costs though I know in your case this did not apply.

 

Edited December 5, 2019 by epsilonGreedy

[Jeremy Harris]

4 minutes ago, epsilonGreedy said:

 

Where do the duration related extra costs creep in? I can think of material price inflation, extending site insurance, regular travel to the new build and temporary home rental costs though I know in your case this did not apply.

 

 

We took out a small mortgage to fund the build, so incurred interest payments for longer than planned (roughly £600/month), I drove over here every day, which was a 32 mile round trip, and site insurance costs were about double the cost of normal house insurance.