House Construction Prices

ADVICE ON ESTIMATING YOUR PROJECTS COSTS

Estimating small building projects is a difficult process because it depends on the many factors that affect the price. You will only get a clear idea of the price for your individual project when all the drawings and schedules of work have been completed outlining your particular requirements, the type of construction and any other factors specific to your project. New build houses tend to be cheaper per square metre than extensions and renovation projects.

It is then advisable to get several builders to price the documents and compare prices. No two building contractors will arrive at the same price, but ensure that the priced document breaks down the items of work so you can compare properly. You also need to take account of how long the builder thinks the job will take and how many jobs they undertake at the same time. Get references from previous customers and visit any similar jobs the contractor has completed.

Below is a simple guide intended only as a starting point for you to assess if your budget matches your ideas and ambitions for your project. The actual eventual cost will depend on a myriad of factors such as geographical location, availability of contractors, complexity of the works and your specification for the construction.

Use the diagram and budget descriptions as guide to the possible costs in pounds sterling per square metre for your overall construction costs excluding VAT.

Estimating small building projects is a difficult process because it depends on the many factors that affect the price. You will only get a clear idea of the price for your individual project when all the drawings and schedules of work have been completed outlining your particular requirements, the type of construction and any other factors specific to your project. New build houses tend to be cheaper per square metre than extensions and renovation projects.

It is then advisable to get several builders to price the documents and compare prices. No two building contractors will arrive at the same price, but ensure that the priced document breaks down the items of work so you can compare properly. You also need to take account of how long the builder thinks the job will take and how many jobs they undertake at the same time. Get references from previous customers and visit any similar jobs the contractor has completed.

Below is a simple guide intended only as a starting point for you to assess if your budget matches your ideas and ambitions for your project. The actual eventual cost will depend on a myriad of factors such as geographical location, availability of contractors, complexity of the works and your specification for the construction.

Use the diagram and budget descriptions as guide to the possible costs in pounds sterling per square metre for your overall construction costs excluding VAT.

PRICE SCHEMA

Average £1,000 per square metre.
Low cost construction with no site constraints. Budget fittings and specification.

Average £1,250 per square metre.
More scope for construction choices and internal fit out.

Average £1,500 per square metre.
Standard construction and structural work. Average range fittings and specification.

Average £1,750 per square metre.
More structural complexity such as underpinning. Bespoke joinery or specialist items.

Average £2,000 per square metre.
Complex structures such as basements. Luxury features, handmade kitchens and wet rooms.

EXAMPLES OF OTHER BUDGET ADJUSTMENTS

London and South East weighting and other ‘hot spots’ could add 15% to 20% to project costs.

Difficult site conditions or access problems could add to project costs.

Size and shape of the project can add to or reduce the build costs. There is an ‘economy of scale’ so that the larger the size of project the more the price per square metre should reduce.

Reductions can be made if you have the skills to project manage the build yourselves by employing individual trades rather than a main contractor. Expect to reduce the costs by 10% to 15% typically.

FURTHER USEFUL READING

Spon’s Architect’s and Builders’s Price Books
Davis Langdon

Spon’s House Improvement Price Book
Bryan J.D. Spain

The Housebuilders Bible
Mark Brinkley

The Site Managers Bible
Len Sales