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Architects always claim the budget is modest... when have you ever heard of one say "oh yeah, it was a shit ton of money so we just went fucking nuts"?
Lad down the road got his extension and loft done 5 years ago and its simple spec and not massive, cost him 120K. A large % of the architects I approached wouldn't touch sub 250k budgets, yeah defo think its north of 300k, maybe not 500K, I remember seeing some 300-400k refurbs and they were this kind of level, maybe not quite so high spec, the joinery and the way the materials meet is insane.
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Not sure how to get around the paywall, but I remember this article putting some numbers to ‘modest budget’ (and making me internally seethe a little)
https://www.thetimes.co.uk/article/how-an-internal-courtyard-can-add-light-and-value-to-your-home-gbn8s56bn
refers here to a "modest budget" lol - no way they're getting change out of 200k for that. at least. def think it looks like 300k maybe, with all that poured/polished concrete, new mass, loft conversion, new joinery etc