Prior to getting into the detail of build budgets we have separated the additional fees that may be incurred, simply because they are often overlooked when considering how much a project is going to cost you.
1 Building Regulations Fees: These are likely to be between £500 and £1,000,
2 Demolition Costs: You will want to salvage anything that is salvageable to off-set costs, and in some cases the demolition team may take some of the waste as part payment if it is useful. Some of it may be used in the foundations or for landscaping. It is worth budgeting between £5,000 and £10,000.
3 Design Fees: Architects fees relate to their level of involvement. If the service involves design, working with the planning department, and supervision of the build, you should budget between 5% and 15% of the total build cost. If you purchase Building Regulations drawings from another avenue it is likely to cost between £5,000 and £7,000.
4 Legal Fees: Solicitors will usually charge between £500 and £1,500 for their services.
5 Planning Application Fees: £300 - £350.
6 Self-build Insurance: This is worth shopping around for, and is likely to be between £500 and £800. We have provided some useful links on this page.
7 Services: This is a very important aspect of your project and can be one of those sneaky things that could ruin the profitability. If the services are available nearby you can expect to pay between £3,000 and £7,000 for connections, but if they are over the field and far away you will need to think long and hard about these options and alternatives, such as renewable energies.
8 Stamp Duty and Land Tax: The tax is currently levied at 1% for land or house purchases valued from £125,001 to £250,000, 3% for plots valued from £250,001 to £500,000 and 4% for properties or land valued at over £500,000.
9 Structural Engineers’ Fees: These are usually around the £500 mark.
10 Topographical Site Survey: A typical cost would be between £250 and £500.
11 Warranties: Budget around 1% of the contract value.
12 Removals, Rent, Storage: Although these don’t directly relate to the build project itself, one or all of them could impact on your plans and budgets.