How to Budget – Extend/Remodel

Overspending happens in most self-build projects, but good preparation will minimise the impact

June 2014 resized

Top tips to stop your budget spiralling out of control…

Budget before you buy

Be realistic - a lot of people arrange their borrowing too early when they only have outline planning permission. The planning process is slow and it could be up to a year before you are ready to start work and the cost of materials and labour may have increased, making your budget outdated.

Keep a contingency fund

Add a minimum of 20 per cent contingency on top of your expected total build cost for any unexpected costs that may come up.

Hire a quantity surveyor

Accurate estimates from ground works to glazing are vital if you want to keep within budget. A quantity surveyor can help you plan a realistic budget and the cost of their fee will be offset by the money they can save you in the long run.

Split it up

Break up your project into the build stages as this will make the finances more managable.

Record everything

Keeping track of what you are spending will prevent your budget getting out of control. Keep all job sheets, invoice and receipts on file, and update your accounts at least once a week.

Cut back

If your budget is being swallowed up rapidly, make cut backs. It’s vital that you spend money on the fabric of the building, so spend less on fixtures and fittings that can be easily upgraded at a later date.


Useful Tools

firsttime tradefinder mortgagecalc

Latest Press Releases

Latest Products, Services and Tradesmen from our Trade Finder

Build Archive

a-modern-french-home

A modern French home

Vicky Thornton's decidedly modern home was designed to blend perfectly with its...
the-government-s-new-right-to-build

Right to Build

Ted Stevens discusses the government's new Right to Build... You may have heard...
an-oxfordshire-barn-conversion

An Oxfordshire barn conversion

When David McLaren started hunting for a new home in rural Oxfordshire, he had a...
conversion-1780-s-stables-house-turned-holiday-home

Conversion: 1780's stables house...

Conversion: 1780's stables house turned holiday home A collection of crumbling...
where-to-find-a-building-plot

Where to Find a Building Plot

A plot is anything and anywhere – it’s just knowing where, and how, to look A...
balconette-launches-unique-frameless-juliet-balconies

Balconette launches unique...

New – Frameless Juliet Balconies from Balconette Now there is nothing to obscure...
a-glaswegian-kitchen-refit

A Glaswegian kitchen refit

When Glasgow-based lawyer Marion Venman decided to improve her architect-designed...
plots-without-planning-consent

Plots Without Planning Consent

As a general rule there’s no use buying a plot of land without planning...
riverside-new-build

Riverside new-build

Steve Clarke and Amanda Boot's ingenious home by the Thames in Surrey rests on a...
solid-wall-insulation-greengauge-advises

Solid wall insulation – Greengauge...

A significant proportion of the houses in the UK were constructed before 1920. If...

Expert videos

expert video2 2