The joy that comes with building a custom house is that we get a chance to bring to life the picture we have always had in mind of our dream house. What you may not be aware of is that if not careful, building your dream home can get you into a financial hole that you might never get out of. We are here to let you know that building your home does not have to break the bank. This article aims to give insight into how you can save money when building your dream home.
Self-Contracting Some Works
If you have experience in construction, you can try self-contracting some tasks of your dream home. If you are not experienced but street smart, you can do some research on where to source items and order them by yourself. Bearing in mind that hiring a contractor comes at an extra cost, doing it yourself saves you a considerable amount of money. Some of the tasks that you can self-contract include landscaping, exterior painting works, and sourcing materials like wood, sand and cement.
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Source Materials Locally
Having to import materials or items not only slows the turnover time, but also digs deeper into your pockets. However much the temptation for classy features that you saw online; consider sourcing some materials locally if you want to save money. Locally produced items cut shipping costs, which translates into savings when building a house.
Explore Upwards, Not Outward
The need to have a bigger home for a larger family makes people increase the square footage outwards. More outward square footage results in increased cost of concrete, roofing, and walling. When building upward, you can have the same amount of square footage with much less building cost. In addition, a prefabricated house is a good idea when working under a budget. According to most home building sources, a prefabricated house reduces the cost of building by almost 20%.
Try to DIY Some Tasks
If you are handy and good with tools, you can try out some DIY tasks instead of just watching. Tasks such as exterior painting and landscaping do not have to be left to the contractor since they are simple and short. However, before assigning some of these tasks to yourself, it is always wise to consult with your contractor. This is because if not done properly, some of these can affect negatively their workmanship hence their reputation.
Consider Recycling Some Items
Building a new home does not mean everything has to be new. If for example the wooden floor of your old house is not torn, you can decide to reuse it in your new house and save that money. With just a little spruce up, the old floor can provide the same look and feel as a new one, without compromising on quality.
Stick to the Initial Plan
When building a new home, planning adequately can go a long way in saving you money more than you could ever imagine. When planning, prepare all the paperwork and have it approved before the building works begin. It saves you unnecessary penalties from the city building inspectorate. Changing plans halfway also translates to a loss of materials initially used. It also means loss of tens, if not hundreds of hours of labor input into the previous plan.
Do Not Accept the First Proposal
Most home building suppliers, just like any business, always give some little inflated costs. Instead of accepting the first proposal, do some shopping around and compare the prices. With a rough cost estimate, you can negotiate for discounts and save money.
Hire a Highly Experienced Contractor
Hiring a highly experienced contractor comes with lots of advantages, the main one being savings on the cost of building. A more experienced contractor uses the right materials without so much waste. They also offer professional advice on how you can cut the cost of building.
Be Minimalistic
We understand the need or temptation to introduce luxurious features into your dream house. While this is the dream of almost every prospecting homeowner, it can leave a surmountable dent in your budget. Instead of a roof with so many ridges and gabbles, go for a smaller and simpler roof to cut on square footage of framing wood and shingles.
Remember the goal here is to save money but not to compromise your dreams and aspirations of your home. This is where an experienced contractor comes in. To get one, ask around and take a keen look at their past works.