Becoming a homeowner is a great milestone in life. There is a comforting sense of security that comes with putting down roots in a community. Buying is the shorter route to owning a home but building takes more time and dedication.
The cost of building varies based on your location among other factors. That notwithstanding, putting up a great home should not cripple your finances. Staying on budget is important if at all you are going to enjoy your transition into the new property.
How do you keep costs low and still manage to build the home of your dreams? Let us have a look at ways you can cut down on building costs.
Size of the Building
It is easy to get carried away when you are presented with lovely design renders of your future home. However, the details might dampen your elation. Complex layouts can be costly to build unless your architect can provide cheaper solutions. Thus, it is essential to find a balance between the necessary and the superfluous. Sometimes, less really is more.
Besides the short-run costs of building, there is also the long-term aspect of maintenance. The larger the property, the more you will incur in terms of maintenance costs over the years.
The Art of Negotiation
Over the course of your home’s construction, you will need multiple professional consultations and services. An architect for the design, a construction team for the build, and probably movers when it is time to relocate. Each of them comes at a price.
It would be a big risk to compromise on using professional services especially if you are not knowledgeable about construction. The point here is to be discerning on whose services you use. Before you engage their services, disclose what your budget is and see if you can come to a consensus.
Using small to medium-sized firms of good repute is also always a great option. As opposed to high-end companies that may charge an arm and a leg, smaller firms tend to offer reasonable rates. Compare different offers, negotiate and choose whichever gives you the best value for money.
Planning and Contingency
If you live in Alaska, you have a very brief window in the summer to build your home. While other regions may be more forgiving, having a plan in terms of the duration of the build is important. Changes in season can drastically affect the quality of construction.
The longer you have workers on-site, the more it will cost you. You can avoid stalling of the project by:
- Securing the necessary documentation, such as permits, ahead of time
- Put together sufficient financial resources
- Seek a commitment, from service providers and suppliers, in regard to timely delivery
Sometimes, even the best-laid plans come across unforeseen circumstances. Contingencies are meant to cushion you when you are dealt such blows. As you make your budget, set aside a small portion of it for any unexpected costs. It will save you the trouble of finding extra funding through costly avenues such as debt.
Supplies and Inputs
Everything you have heard about economies of scale is true. For starters, buying in bulk will often attract wholesale pricing. Similarly, getting your inputs directly from the manufacturer is more affordable than buying from outlets. If you are being frugal, these are all options to explore when buying supplies.
You can further save money on:
Depending on your layout, you may find yourself in need of custom installations. They are usually made to fit your needs for height or width for extra storage. The catch is, they come at a hefty price inike typical in-stock designs.
Consider, for instance, purchasing ready-to-assemble cabinets in lieu of custom cabinets. They are cheaper because they come unassembled. All you need is a skilled carpenter to help you customize and install them. To complete the assembly, a good cabinet hinge manufacturer can custom-make hinges to fit your modified design.
Advanced Building Methods
Innovation has provided so many convenient options you could employ aside from a conventional build. Advanced methods of construction are mostly focused on sustainability and cost-effectiveness. They are also just as safe as any other ordinary house, possibly even more resilient.
Container homes are all the rage recently and for good reason. They are quite unique and are arguably cheaper. Further, they are very environmentally friendly homes.
Prefabrication is highly recommended if you want to complete a structure in a short amount of time. The parts come ready-built and simply have to be assembled at the site to form the house. It takes a much shorter time than laying brick by brick.
When construction is over and done with, you will need to turn the house into a home. Decorating and final touches are crucial in making the space livable. Such tasks are much simpler so you can save money by doing them yourself.
You may not have been handy in digging the house’s foundation but painting can be right up your alley. Consider turning the idea of a moving party on its head and host a painting party instead. Invite a few friends who are willing to help but be sure to offer sufficient food, refreshments, and gratitude.
If you have a green thumb, take on the landscaping too. The building process may have left the surroundings of the property in disarray. Sprucing up the outdoors with some turf and flowers will lend some class to the place.
There are many reasons why people choose to build their own homes. Sometimes you simply can not find what you need in the real estate market. In other instances, you have special needs and accessible housing remains a neglected niche market.
You can build on a budget and it does not have to be a long stressful experience. Now that you have the tips and tricks on how to go about it, go on and build your dream home.