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Budgeting for an extension

Budgeting for an extension in Cambridge – watch your wallet

Budgeting for an extension is one area where most people fall, often underestimating the time and money that is required to complete the project.  And if you live in Cambridge you need to know that the best builders get booked up early; so

  • Plan ahead
  • Conduct thorough research
  • Identify at least three builders and choose carefully
  • Draw up a secure contract.

Adequately budgeting for an extension is one of the most important things to consider when planning a project to improve your home.

7 considerations when budgeting for an extension

  1. You should be realistic about what you want to achieve.
  2. Try to account in your budget for planning permission and Building Control charges.
  3. Don’t over-stretch yourself financially. Only take on a project that you feel you can comfortably manage.
  4. Try to leave some money aside for emergency funds in case anything goes wrong or any changes need to be made.
  5. While doing as much of the work yourself as possible could save you on labour costs, it will take much longer and the quality of the extension could suffer.
  6. Remember if you are planning on selling your house that each month the project takes may mean an extra mortgage repayment that needs to be budgeted.
  7. Set some money aside for the costs of decorating the new extension and any new furniture that you may need.

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