It can be difficult knowing where to start when budgeting for a renovation project, but it’s an important step to ensure costs don’t spiral out of control.
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The largest proportion of your budget will likely be allocated for labour costs and materials, unless you intend to do the work yourself. To give you an idea of what to expect, we’ve set out the average daily cost of employing individual trades (in the North of England). If your project is large scale, you may look at hiring a contractor who will deal with each of the trades on your behalf, charging an overall fee for the project.
These costs are estimates and we always recommend obtaining quotes prior to beginning work.
From personal experience we would suggest living in a property (if its condition allows) prior to making any final design decisions. This way you fully understand how you use the space, what you love about it and what really doesn’t work for you. An interior designer can also help you discover how the space can work for you, and redesign the internal layout to suit your family’s lifestyle. In this scenario you may renovate one room at a time, allowing you to save for the next stage of the project in between. Below we’ve set out average renovation costs per room (including furniture), based on the level of finishes.
The final thing to consider are design fees, which can vary greatly dependent on the specialism, and consultants level of experience. If you are building an extension, you will need to factor in architects and structural engineers fees, as well as the cost of planning permission (unsure if your project requires planning permission - check out our guide to planning your home renovation). As a ballpark we recommend allocating 10% of your budget to design fees. However if all of the layout changes are internal, hiring an interior designer will offer greater value for money, on making the best use of existing space (architects don’t always consider the internal layout). Also, interior designers will often receive trade discounts on materials and furniture, which they will pass on to you as a client.
Unsure which design specialist you need for your project? Check out the flow chart below.
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