You’ve decided to transform your home with a side return extension, embracing the trend that’s reshaping London’s residential spaces. As you embark on this journey, understanding the cost of side return extension in London is crucial. The price can be as high as £4,500 per square metre, making it essential to explore different funding avenues. At Build Team, we specialize in delivering exceptional side return and loft extensions, and we’re here to guide you through your financing options.
Understanding Side Return Extensions
A side return extension utilizes the narrow alleyway alongside Victorian and Edwardian terraced houses, turning underused space into valuable living areas. In London, the cost of side return extension projects can vary significantly, influenced by factors such as size, materials, and finishes. Knowing these costs upfront helps in planning and securing the necessary funds for your project.
Savings & Personal Finance
Using personal savings might be the most straightforward way to fund your extension. It’s interest-free and avoids debt. However, if savings fall short, personal loans offer an alternative, though it’s important to consider interest rates and repayment terms carefully.
Home Improvement Loans
Specifically designed for renovation projects, home improvement loans can be a viable option to initially help cover the cost of a side return extension in London. They often have favourable terms compared to standard personal loans, but it’s crucial to compare offers and understand the implications on your financial health.
Refinancing Your Mortgage
Refinancing your mortgage to release equity can provide a substantial sum for your project. This method spreads the cost over the lifespan of your mortgage, potentially making repayments more manageable. Nonetheless, it’s vital to consult with a financial advisor to ensure this strategy suits your long-term financial goals.
Government Grants and Schemes
In some cases, government grants or schemes may be available to help fund energy-efficient home improvements. These can reduce the overall cost of side return extension in London, although eligibility criteria can be strict.
Partnering with Design and Build Firms
Choosing a design and build firm like Build Team can offer advantages. We understand the intricacies of managing the cost of side return extension in London and can sometimes offer flexible payment options or advice on managing your project’s finances effectively.
Additional Cost-Saving Tips
Careful planning and budget management can also help control costs. Consider phased construction or choosing materials and finishes that offer value without compromising quality. These strategies can make your extension more affordable.
Cost of Side Return Extensions in London
The journey to extending your home in London need not be daunting, despite the significant cost of side return extension in London. By exploring various funding options and working with experienced professionals like Build Team, you can achieve your dream space without compromising financial stability. Remember, thorough research and careful planning are key to successfully funding your side return extension project.
Ready to transform your home with a side return extension? Contact Build Team today to discuss your project and discover how we can bring your vision to life within your budget.
