Beginner's Guide - Build Costs - Introduction

So you've decided to self-build or renovate - what are the costs?

Construction costs for a new home vary depending on the quality of the specification, the size, the number of storeys and your own level of involvement, either in managing the build or in undertaking some of the building work. You can get a quick estimate of the likely cost per square metre (£/m2) for your project by using The H&R Average Build Cost Guide (found in your copy of Homebuilding & Renovating magazine). The guide is based on figures research ed by the Building Cost Information Service (BCIS) of the Royal Institution of Chartered Surveyors (RICS) for the purpose of estimating rebuilding costs. The Guide to Rebuilding Costs is available priced £45 from RICS (020 7222 7000). The H&R figures are adjusted to remove professional fees and demolition costs which are not always applicable to homebuilding projects. To get an estimate of the likely cost of your project, follow the three steps detailed below.

• Step One
• Step Two
• Step Three

The average build cost figures provided are based on houses built using standard block or timber frame construction methods. They are not applicable to the following: ground conditions requiring specialist foundations; steeply sloping sites; special design features, e.g. oak frame or large areas of glazing; houses of a very high-quality specification; renovation or conversion projects.

Further reading:

• Beginner's Guide: Step One
• Beginner's Guide: Step Two
• Beginner's Guide: Step Three
• Beginner's Guide : Self Build Schedule
• Beginner's Guide: Tax
• Beginner's Guide: Finance