How to Save Money When Building a Home
10 June, 2018
So, you are building a home and you want to keep your budget within reason without having to compromise on the quality of construction. We have got some great tips for you.
Now that you have selected the right builder for your home. If you want to save money, then you have to omit features and amenities that are not exactly necessary. Here are a few ways to save money when building a house.
Can’t afford your dream lot? Buy from a relative!
If it is a large lot, consider buying it with a family member or a friend. After the purchase, you can split it into smaller lots. This way you will be able to acquire a great site for a good price.
Consider buying a narrow, infill or hillside property
These are problem lots that don’t fetch a good price. But if you have got the right house plan and an efficient contractor, you can build a great home even on a difficult lot.
Buy waterfront properties
If you are interested in a waterfront site, buy a bay or a canal lot. It is less expensive, but it still has access to water. Also, these properties provide better protection against hostile weather.
Choose low maintenance materials
Buy building materials that require less maintenance, for example, metal roofing and vinyl siding. They may be costlier as far as installation is concerned, but they require less maintenance and you don’t have to replace, repair, or repaint them.
Use salvaged materials collected from demolition sites
You will most probably be able to have these materials for free. Of course, you will have to haul them away.
Resist the temptation to build a house that is too large for the neighborhood
If your home is bigger and better than other homes in the neighborhood, it might make you feel proud, but when it is time to sell, the property won’t fetch a fair price. The assessment will most probably be influenced by the less expensive homes around it. That said, do not skimp on important structural components. Buy the best doors and windows you can afford.
Hire an experienced general contractor
Their experience is invaluable. What’s more seasoned contractors have trade relationships with subcontractors and suppliers.
Omit features that are not exactly necessary
Do you need a fireplace? Your home will run without it. So omit it if you can and you will be able to save hundreds of dollars on labor cost and materials
Do you really have to build a well-furnished game room in the basement? Game rooms are a great way to make use of the basement space, but they don’t have to be fully furnished.
In some climates, the porch isn’t useful all year round. In this case, you can omit it. In any case you can add the porch later.
Many houses have full basements, but they are not a necessity. If you need a full basement, it will require more digging and deeper foundations.
Build a two-story house
If you plan to build all the rooms on a single floor, the cost of construction will be higher. Two-story houses require less excavation, less foundation walls and less roof.
If you are keen on cutting costs, choose simple architecture. Rectangular houses cost much less than those with an irregular shape.
If you live in an area where winters are particularly cold, you cannot omit insulation. But it is not all that important in other areas. So, use the kind of insulation you can afford.