The most common type of move is from a flat to a house, as first time buyers make that first upgrade. This is, on average, a 75-80% increase in value. The frequency of that next jump (perhaps to a 4-bed house) has dropped as people choose to extend rather than buy. House extensions are hugely popular now. With house prices rising rapidly, many people are extending rather than moving. This is great news for building firms as there is so much work about. Its good news for homeowners too. With the stamp duty now over, the stamp duty payable when you move has gone back up:
There are many factors that can delay the completion of a house extension project:
In the UK, the weather can seriously impact a construction project. Rain, snow, wind and heat can all impact your project. Delays are expensive in both time and money.
With so much work available at the moment, delays of any kind have a knock-on effect. Unless the time lost can be made up, the next project has to be pushed back – it’s a domino effect.
Delays mean that the scheduling of contractors goes out the window. Pushing back the date you need, for example, the electricians, on site can lead to them taking other projects. That leads to further delays or you having to find other electricians.
Staff and contractors are usually on day rates. Weather delays often slow down their productivity, as they empty foundation trenches of water or have to mix smaller cement batches so it doesn’t turn. These delay costs all add up.
Building contracts often cover weather delays, but often only if the weather if extreme. If there are penalties for late completion, these can quickly eat into profits for that project.
Many builders are buying all the materials they need up front now. With material costs seemingly increasing constantly, you need to be able to control costs. Is there protected space on site for storing these materials? If you’re not buying up front, delays can lead to either increases in material costs that weren’t budgeted, or not being able to get hold of them.
Whatever the reason for the delay, the increase in costs means a decrease in profits, and that is never good.
One of our team had a loft extension added whilst his wife was pregnant. Adding to the family meant more space was needed. Luckily that project finished on time. Can you imagine the impact of delays on that one?
Whatever the reason for extending your house, you have probably made plans based on when you expect the project to be finished. Perhaps it will allow to have a bigger family Christmas. Perhaps it means an elderly relative can be looked after more easily. If you’re organising decorating or ordering furniture for the extension, delays make things difficult.
Protect your project by covering it. More and more loft extensions have a “tin hat” added to keep the work going when it rains. At ground level ,a marquee does the same job, but then can do so much more:
Adding a marquee to a house extension project isn’t expensive. Prices start at an average of £250 a week. The cost of delays can easily make that figure seem like peanuts. This price compares to around £550-700 a week for scaffolding.
So whether you are a builder or a homeowner, give us a call to talk more about adding a marquee to keep your extension project on time and on budget.