Self Build Construction Cost Guide

“What will it cost to build?” This is the big one. This is the one we always get asked and its also a question we feel uncomfortable answering!

The reason is that every project is unique and there are so many factors which can impact on the overall construction cost including project location, the specification, house size, local demand for builders, timing and your star sign. Well maybe not the last one, but you get the idea!

MAIN CONTRACTOR BUILD COSTS

The average full-build costs using a main contractor have been around £1000 per metre square. This is the average.  Actual figures have ranged from £950 per metre square up to £1,300 per metre square (ex VAT). If you are building off the main land, build costs are generally more expensive and the average can be £1100 per square metre.

These costs allow for site development, purchase of the timber frame system and construction of the house. They exclude the costs of purchasing the plot and provisional sums for bathroom suites and kitchen / utility room units (although it does allow for fitting these).

FACTORS AFFECTING PRICE

Here are some quite obvious factors affecting price:

• Size of House – Generally the cost per metre square is lower on a large house compared to a small house.  Larger projects are usually more attractive to contractors and there are also better economies of scale.
• Location – The further away you are from the contractor base, then the more they will have to allow in their price for travel costs and time.  
• Supply and demand – If builders are busy then the price will be higher than if there is a lot of competition in the market place. With all the doom and gloom surrounding the economy at present, this could turn out to be a really good time to build your own home as builders prices will be more competitive than they have been in many years.  
• Specification – Its obvious, but the higher the specification the higher the cost.
• Building Plot – A level site with good access and plenty of room to store materials is going to be cheaper to develop than a plot 2 miles along a dirt track and perched on the side of a mountain. But perhaps the solitude and the views will be more than compensation for the additional costs!

SELF-MANAGED BUILD

The figures mentioned above are based on a main contractor managing the build for you.  For some customers, managing the build themselves is an option. 

Instead of engaging one firm to handle the entire project from start to finish, you employ several tradesmen and break the project up into its component parts. Think very carefully before deciding to go down this route. Yes, significant savings are achievable but your level of involvement increases enormously and so too may your stress levels (and those around you).

DISCLAIMER

This is intended as a guide only; actual figures can vary significantly from project to project. Phew, glad we got that in! 

SkyeHomes, January 2009