As a building surveyor, I'd like to remind everyone to be mindful of the value added when making improvements. It's important to avoid overspending on renovations that won't significantly increase the value of your property. For example, investing £25,000 in a kitchen renovation when it only adds £10,000 to the property's value is not a wise decision. It's crucial to spend wisely and make improvements that will have a meaningful impact on the overall value of your property.
Fair point but unless you are an investor, adding value is just a bonus. Not everyone is extending to make money - most just want additional space in their home to make it more comfortable and aesthetically pleasing for them and their family.
Good idea and sensible But if you have .over into your forever home and plan to spend 30 years in their Buying a expensive kitchen may be appealing to some ( I wouldn't ) but it's not always about adding valve
Living on the southcoast property prices are quite high. Instead of selling my oroperty to buy a larger one, i spent 80k during lockdown on a front and rear extension. I completely remodelled the ground floor and im very happy with the result. Btw im not a builder and not great at DIY. Whilst the value increase was around 100k I gained the exact propert I wanted and did not have to pay the costs of buying and selling. Just my experience.
You’re very welcome! I’m starting an online community for UK home-extenders, with access to courses, tools & support. Let me know if you’re interested and I’ll send you an invite. 👍🏻
When calculating m2 do you just factor in the additional space or the total space once extended. E.g. I want to add 18m2 to an existing 20m2 space (extended kitchen). So the new kitchen would be 36m2 - do I base costs on 18m2 or 36m2 (the old 20m2 space would need to be “gutted” for the next kitchen)
Hi @zippo-john I would treat that as two different cost calculations. One for the 18m2 extension. So calculate the £/m2 for this additional space. Then do a separate calculation for the new kitchen and the renovation of the existing space. This is a bit more difficult to accurately price because it's a renovation there are more unknowns to factor in. That's usually the best accurate way of calculating the total cost of a 'hybrid' job where there's an extension plus a renovation together. 👍🏼 Do you know what your budget is for the new kitchen?
Thank you so much, I understand now. So “x” for extension then “y” for the complete renovation (new kitchen, consistent flooring, painting etc). I suppose at least those costs are more in my control. Re: budget we’re actually looking to purchase a house and the kitchen would need (at some stage) extending - so we’re just looking at what a ball park is to understand if we can save for that in the next 5 years or so. Thanks for your help again.
To be honest that depends on the level of finish you want. It’s possible to build and finish your extension for these costs, but you can also choose to spend a lot more!
Hi @lhiiman the upper end of the price range is for most of London and the South East. But some areas of London will definitely be higher than that! 👍🏻
This clip does not say anything new. Thought there would be a breakdown of the costs and margins…but that’s inside info. Anyways, 80k for an average loft is a joke. I suspect the mark-up is constructions exceeds easily 100%.
As a building surveyor, I'd like to remind everyone to be mindful of the value added when making improvements. It's important to avoid overspending on renovations that won't significantly increase the value of your property. For example, investing £25,000 in a kitchen renovation when it only adds £10,000 to the property's value is not a wise decision. It's crucial to spend wisely and make improvements that will have a meaningful impact on the overall value of your property.
Thanks Sandeep, good point well made! 👍🏻
Fair point but unless you are an investor, adding value is just a bonus. Not everyone is extending to make money - most just want additional space in their home to make it more comfortable and aesthetically pleasing for them and their family.
I agree! This is definitely where most people are coming from. 👍🏻
Good idea and sensible
But if you have .over into your forever home and plan to spend 30 years in their
Buying a expensive kitchen may be appealing to some ( I wouldn't ) but it's not always about adding valve
Living on the southcoast property prices are quite high. Instead of selling my oroperty to buy a larger one, i spent 80k during lockdown on a front and rear extension. I completely remodelled the ground floor and im very happy with the result. Btw im not a builder and not great at DIY. Whilst the value increase was around 100k I gained the exact propert I wanted and did not have to pay the costs of buying and selling. Just my experience.
Thanks for sharing. It's always nice to hear a success story! 🙂
You got lucky with builders.
Very informative, thanks for sharing your knowledge.
You’re very welcome!
I’m starting an online community for UK home-extenders, with access to courses, tools & support.
Let me know if you’re interested and I’ll send you an invite. 👍🏻
When calculating m2 do you just factor in the additional space or the total space once extended. E.g. I want to add 18m2 to an existing 20m2 space (extended kitchen). So the new kitchen would be 36m2 - do I base costs on 18m2 or 36m2 (the old 20m2 space would need to be “gutted” for the next kitchen)
Hi @zippo-john I would treat that as two different cost calculations. One for the 18m2 extension. So calculate the £/m2 for this additional space. Then do a separate calculation for the new kitchen and the renovation of the existing space. This is a bit more difficult to accurately price because it's a renovation there are more unknowns to factor in.
That's usually the best accurate way of calculating the total cost of a 'hybrid' job where there's an extension plus a renovation together. 👍🏼
Do you know what your budget is for the new kitchen?
Thank you so much, I understand now. So “x” for extension then “y” for the complete renovation (new kitchen, consistent flooring, painting etc). I suppose at least those costs are more in my control. Re: budget we’re actually looking to purchase a house and the kitchen would need (at some stage) extending - so we’re just looking at what a ball park is to understand if we can save for that in the next 5 years or so. Thanks for your help again.
So loft conversions arent the cheapist option like they used to be then?
@@Rob-e4f I don’t think they’ve been a cheap option for quite a while! 🙂
Good video, but those prices are rather low if doing anything at all in London. Maybe add another 50% on top.
Great to know, thank you! …maybe I should make a ‘London Special’! 🙂
Hi, great info. Are prices based on first or second fix ?
Hi @TheHotstepper76 the prices are all based on a fully finished extension. 👍🏻
Construction or finished costs? Presumably we need to materials and fitting of kitchens, flooring, bathrooms, paint a decorating to this?
To be honest that depends on the level of finish you want.
It’s possible to build and finish your extension for these costs, but you can also choose to spend a lot more!
The picture you showed for a single story extension is not a typical size.
@@raydawson2767 Good to know, thanks Ray. 👍🏻
Excellent, looks like they've halved in price since 2020!
Nice to know! 😂
Is the upper end of the price range for London or is that going to be higher than the upper end?
Hi @lhiiman the upper end of the price range is for most of London and the South East. But some areas of London will definitely be higher than that! 👍🏻
extending your home can add more space.😮
It’s true! 😂
😊
Loft for living space? You kidding, right? I thought it is purpose is for isolation from outside
This clip does not say anything new. Thought there would be a breakdown of the costs and margins…but that’s inside info. Anyways, 80k for an average loft is a joke. I suspect the mark-up is constructions exceeds easily 100%.
Fkn hell its expensive!!
Yep, it certainly can be! 😅
What are thinking of building?
.