Grand Designs require a grand budget! 4/5 Houses come in over budget by 34%
Ever wondered how much the average person spends on their Grand Designs project? How much they go over budget? Who went over budget and under budget the most? How much they make on their property when selling after build their Grand Design? Where the most Grand Designs have been built?
Well… to celebrate Grand Designs 20th year of being on TV and all things Kevin McCloud, we have watched every episode of Grand Designs, (all Series 1-19, and yes it took me a long time), and have deconstructed all of the must-know statistics in the show.
Key highlights:
• 80% of Grand Designs projects go over budget, with 7% on budget, and 8% under budget.
• The average Grand Designs budget is £371,213, but in fact people go over budget by 34% (£124,356), spending £495,570.
• 21 properties from the show are built in London, with rural hotspots such as Devon, Wales and Cornwall attracting more than 6 Grand Designs projects since 1999.
• North/South divide exists in the show with only 23 properties being built in the south compared to over 100 in the south – alone in London, a total of £12,870,000 was spent on building the 21 Grand Designs properties.
• The most over budget property was Bram and Lisa Vis who spent £1.35 million more than planned. The most under budget property was the Floating House in Series 14 that went under budget by £100,000. (I can provide details for the other Top 5 most under/over budget properties).
• The majority of houses in the show (22) cost between £200,000-£299,999. In fact 19 houses are built between the £100,000 an £199,999 mark – showing that building your own property is certainly affordable.
• On average, a Grand Designs house goes on the market at £1.29 million – after being built. The Miniature Hollywood Mansion has the biggest ROI going on the market at £3.95 million after costing £700,000 to build.
• The average Grand Designs project takes 17 months to build – 47 houses are completed in less than a year.
Shared by: Seb Burchell – seb.burchell@mojomortgages.com
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