How to budget for a home extension

Bright kitchen with VELUX flat roof window
Are you are considering building an extension to your house but wondering how much it would cost? When you need more space for your growing family, an extension can be a wonderful option. You've searched Pinterest and Instagram to find the perfect ideas for your project, but how much will it cost to make your dream a reality? Get off to a good start with 4 simple steps.
Key takeaways
  • Prioritise your wish list into must-haves and nice-to-haves. Remember while the interior can be changed easily, the structure of an extension is harder to alter so make sure it's big enough and that all key features like electrics and roof windows are planned from the start.
  • Managing your own project can mean immediate cost savings, but you need to be confident in choosing and managing your contractors to avoid expensive mistakes.
  • Avoid dark and gloomy rooms by adding roof windows to your extension, thereby bringing the light deeper into the room

4 steps to help you budget for a home renovation

Whenever you're doing a home renovation, making a solid budget is vital. A well-considered home renovation budget will help you stay on track. These 4 steps will help you get started.

Step 1: Get inspired

You'll have to rein it in soon enough, so when you start your extension project, allow your imagination to run wild. Find inspiration on Pinterest, Instagram, and at your friends’ homes, then make lists and vision boards of everything your ideal home extension should have.

Step 2: Assess must-haves and nice-to-haves

After allowing yourself to dream big, it's time to make a plan and prioritise your list into must-haves and nice-to-haves. Remember that your extension should be tailored to your lifestyle, so assess your needs accordingly.

Also, keep in mind that while your interior can be changed relatively quickly and cheaply, the actual structure of the extension is harder to alter. When you plan your extension, ensure it's big enough and that all key features like flooring, electrics, roof windows and doors are part of the plan from the beginning.

Step 3: Assemble a winning team

Who will manage your extension project: you or a general contractor? There are advantages and disadvantages to both.

It can be difficult to find a reliable and skilled builder to do the job. "Cheaper contractors" are often overbooked or not skilled enough, which can cause prolonged schedules, sloppy work, or costly problems. If you decide to let a general contractor manage your project, take the time to get recommendations from colleagues, friends and family. It's also advisable to thoroughly vet them and see their work before signing a contract.

Managing your own project can mean immediate cost savings, but you need to be confident in choosing and managing your contractors to avoid expensive mistakes.

Step 4: Make a home renovation budget and timeline – and stick to it

Making sure you have enough money to pay for your house extension is the most critical part of the planning process. Before you start the construction, take the time to create a finalised budget.

Making a budget requires a lot of research. Labour costs, materials, and decor should all be considered. Work with your contractor to stay realistic about costs and projected timelines. Budget at least 20% over the estimated cost of the extension to allow for a contingency fund. Something will always come up, no matter how well you run your project.

When you hire professionals, time equals money; delays can cause costs to skyrocket. Carefully plan with your contractor before the project begins to set a definite timeline. This will help you avoid maxing out your budget, as well as hold all your contractors and installers accountable for delivering their part of the project on time.

Don't compromise on natural light

An extension project can cause the source of light to be moved further away from the centre of the room. Avoid dark and gloomy rooms by adding roof windows to your extension, thereby bringing the light deeper into the room. Adding roof windows to your extension is a decision you won't regret!

See your home extension in a whole new natural light

Natural light can maximise spaces and make them seem bigger. Adding roof windows to your extension will make you see your home in a new light, instantly making it feel more welcoming.

Enjoy more benefits

Roof windows are a brilliant way to bring more daylight into your home. They allow light to penetrate deeper into the home than vertical glazing. With VELUX roof windows, you can choose from a wide range of solutions, decide your operational comfort level with the VELUX ACTIVE with NETATMO smart home solution and personalise your home with stylish blinds and shutters.

Whenever you're doing a home renovation, making a solid budget is vital. A well-considered budget will help you stay on track.

Author

VELUX Editorial team

Share

Read more articles

How to plan a home extension
Running out of space at home? Before you start scrolling property websites to find somewhere new, consider building an extension. It’s often the most cost and time-effective option, especially if you love living in your current neighbourhood. You can create more space, improve the quality of life for your family and boost your property’s value, without the hassle of a big move. There’s a lot to think about to make sure you end up with a space that ticks all the boxes for your growing family, so read on for our guide to planning a home extension.
Read the full article
The best roof window solutions for a home extension
Home extensions can be big or small. No matter the size, a home extension can provide more light and space for your house. Maybe you dream of seeing more of your garden each day. Or perhaps you want a conservatory where you can sit and enjoy the long summer nights. Whatever you may have in mind for your home extension, we have roof windows that can provide you with daylight, ventilation, and ambience.
Read the full article
How to budget for your home improvement
You have dreamt of doing a home improvement project for years, and now it’s finally time. But hold your horses. Do you have a budget? Budgeting is tough and sticking to that budget is even more challenging. Creating a realistic budget is the first thing you should do before embarking on a home improvement project. You'll thank yourself later. 
Read the full article
Getting off to a good start with your house renovation project
Planning a home renovation? Read on! A house renovation is a big project that requires detailed planning of everything from budgets and timelines to demolition, reconstruction, and window placement. Get off to a good start with this checklist.
Read the full article
 How to improve indoor air quality
We spend up to 90% of our time indoors. While we hear a lot about outdoor pollution and rising CO2 levels, outside, have you ever wondered about the air quality in your own home? Indoor air quality has a considerable impact on our health. The average person breathes about 10,000 litres of air per day, most of which consists of air from their home. That's a lot of air! We believe that roof windows can provide an aesthetic element to every home and a lot of natural light. In addition, they promote a better indoor climate that will benefit your health.
Read the full article