Ideas on How to Save Money on Your Project
Extensions continue to be a current way of increasing living space especially given the high cost of moving to a bigger property. There are lots of ways you can save money during your extension/refurbishment and here’s how:
- If you are carrying out an extension on your property, then keep the design simple. A rectangular or square footprint with a simple pitched roof will be cheapest. Avoid any products that must be made to measure; choose materials that are readily available and easy to use. If possible, avoid complicated ground works, such as building near trees or sewers as these will increase costs.
- Doing some of the work yourself is a fantastic way of saving money. The easiest tasks to take on are labour, decorating and landscaping. Be careful to only take on the work you have the time and skills to effectively complete.
- Most extension work will attract VAT at 20% on labour and materials, but if you use self-employed trades people who each turnover less than the threshold for VAT registration, then you can legitimately avoid incurring VAT. Second hand materials sold by private individuals on the internet will also be free of VAT.
- If you are building near or on a boundary of a neighbour, your extension will need to comply with the Party Wall etc Act 1996 in England and Wales. If a Party Wall Award is required, it will cost around £700 per neighbour plus VAT; this can be more if they use their own Surveyor. You must notify your neighbours in writing about your proposal before you start the works. If you neighbours are happy with your plans and they do not object then this will save you money on fees. It pays to keep neighbours on boards with your project, discussing plans and being considerate about any concerns they might have.
Holly Brooker (Secretary)