The cost of a new build will vary significantly from project to project. If you’re considering building a new home, it’s important to recognise the factors that will influence its cost. We’ve narrowed down these factors to what we believe to be most significant: build route, design and quality of materials, location and extra fees.
Your chosen build route will determine who is involved in your project. Some people prefer a hands-on approach, whereas others prefer an expert to oversee the entire project. Here are the options to consider:
- DIY – This approach will see you taking on almost the entire project yourself. This option is certainly the most cost effective (if done correctly), saving around 30-40% on the total price, but it requires a large amount of time and skill.
- Subcontractors – This stage mixes DIY with the proficiency of tradesmen. Builders, joiners etc. will do the main structural work but you will be responsible for purchasing the materials and some minor DIY.
- Main contractor + subcontractors – A main contractor is a figurehead that oversees the project to completion. A mixture of main contractors and subcontractors gives you a little flexibility. The main contractor will build the structure of your house, and you will employ subcontractors to complete the remaining work. As you are employing subcontractors, you will need to buy the materials.
- Main contractor – This final option is a comprehensive package. The entire project will be taken care of, including all building and material purchases. It is the most costly option but doesn’t require any investment of time from yourself.
Design/ Quality of materials
The quality of materials used to construct your home will influence the overall price. You may opt to use the most basic materials necessary to create a simple domain, or you can upgrade to luxurious materials that will significantly improve the living standards. Here are some examples of materials for each level of luxury:
- Concrete tiles
- Standard softwood joinery
- Simple bathroom with only necessary fittings
- Simple kitchen
- Radiator heating
- Timber cladding
- Clay tiles
- High-end softwood joinery
- Modest bathroom with mid-range fittings
- Modest kitchen with mid-range fittings
- Downstairs underfloor heating
- Natural stone cladding
- Clay tiles
- Hardwood joinery
- Luxury bathroom with custom fittings
- Luxury kitchen with custom fittings
- Underfloor heating throughout the house
- Flint cladding
The cost of building a house also varies depending on location. Unsurprisingly, London is the most expensive city to build a house. In general, the North of England will be cheaper to build in than the South of England, but this will not be true of all areas. It is important to get a sense of house prices in the area you wish to build in and how they are inflated by the location. This will need to be factored into your budget.
Extra costs and fees
Several development costs will influence the price of the build, but there are also planning and legal costs to factor into the budget as well.
- Legal fees: £500-£1000
- Stamp duty: 1% for land or house purchases valued between £125,001 and £250,000, 3% for between £250,001 and £500,000 and 4% over £500,000.
- Topographical site survey: £350-£500
- Design fees: Architects charge 7-15% of the total build cost. For planning drawings from other sources, expect to pay between £2500-£3500 plus a similar figure for Building Regulations drawings.
- Structural Engineer’s Fees: £400-£500
- Planning Application Fees: £462
- Building Regulations Fees: £500-£1000
- Warranty: Around 1% of contract value
- Self Build Insurance: 1% of the project build costs
- Services: £3500-£6000
- Demolition Costs: £5000-£10,000
- External Works: Around 15% of total build cost
- Preliminaries (if needed): £5000-£12,000
High & Dry Renovations work to create new builds at affordable prices. We’ll liaise with you closely to ensure the property is built to your exact specifications. No matter what your home design idea is, our team work tirelessly to bring it to life. Our fully-qualified team of builders can handle all aspects of home construction and are able to cater for everything — from a small extension to an entirely new build. If you’re located in Scunthorpe, Brigg, Grimsby or the surrounding areas and are interested in our services, please contact our team today.