Financial Aspects and considerations for home
Financial Aspects of creating your new bespoke home
Whilst we’d all love unlimited project budgets, we have to live in the real world where cost is a factor. We believe the project budget should be considered as an opportunity rather than a limitation, with designs and experience helping to create your dream project in an appropriate manner, whatever the budget.
Within the overall project cost you will need to budget for the land and the construction costs, but also professional services, landscaping, warranties, statutory fees (planning and building regulations) and contingencies. We can assist you with a range of financial aspects and work with you to design a project that makes best use of your budget, however big or small that may be. We can also work to develop a project cost breakdown to illustrate the overall costs and how each element fits into the project.
Our fees are based on the level of service and scope of works and generally work on a fixed, percentage or hourly rate basis depending upon project and client preferences. Packages of work can be small, including assistance with finding or evaluating a suitable site.
The tax aspects of building a new house can be advantageous, and you should seek independent advice, but when you create a new build house (or other eligible works) you may be able to claim the VAT back on some or all of the costs. There are also other tax benefits, including principle private residence relief etc. More information can be found from your local Tax or VAT office (put up link).
Having been through the process ourselves, we can assist and guide you through this process.
Cost Estimation Services for your project
We work with a number of consultants and organisations to enable detailed labour and materials estimates to be developed, that show the cost of your building project. Such estimates can be used to benchmark Contractor's quotations or to enable the overall cost of the project where self managed or sub-contractor routes are to be used.