We all dream of owning a house we can call our home with no mortgage dues and any other financial costs that come with the same. Under normal circumstances, one would buy a house or choose to build one from scratch. Whether building a house from scratch or doing a home renovation, it would be nice to cut down on any project construction costs. Although most people save money their entire lifetime to build a nice home, construction costs almost always get out of hand. One fact about building or renovating a home is certain – construction is perplexingly expensive.
Without a good plan and knowledge on how to save money when building a house, you could drain all your life’s savings and never get the project completed in time. Discussed below are five construction tips that can help you save money when building your dream house.
How to Save Money When Building a House
- Decide on the type of house to build: The type of house you wish to build determines how much you will spend in construction costs. Although most people prefer building a ranch, you could save lots of money if you chose a two-story house instead. Although unknown to many, a ranch takes up lots of your building resources in both the foundation and roofing. Nonetheless, choosing a story house over a ranch helps you save half the amount you would have had to spend.
- Land: Avoiding land preparation exercises such as blasting rock, landscaping, and clearing trees can save you an enormous sum of money. It would, therefore, be wise to by the right piece of land that doesn’t require any of the above-mentioned land preparation exercises to be ready. In addition to this, a virgin land may not have access to proper sewer lines, drinking water, electricity and other essentials needed in every home. Although finding a nice plot to build your house may be difficult nowadays, working closely with a trusted realtor could be fruitful.
- Choose contractors wisely: Investing in a good building contractor can help you save money both in the short and long term. The first step to finding a trustworthy and affordable contractor is by learning your state’s consumer protection laws. This should be done before asking contractors to bid on the project. Window-shopping and researching on every viable candidate is a wise idea as well. One of the best ways to do this is by looking for a licensed, certified and experienced contractor. Hiring a licensed and experienced contractor will not only protect you from shoddy or incomplete work but also save you from legal actions.
- Window-shop for building materials first: You can save good amounts of money by window-shopping and knowing what the market has to offer. Some suppliers may charge exorbitantly for building materials that can otherwise be obtained from an affordable supplier or even a second-hand shop. Getting quotes from different providers, then comparing costs and product quality should help you save good money from the same. Having the building contractor help identify suppliers could also help you save money on the same.
- Go Green: The cost of building a house goes beyond the finished space – take efficiency into consideration. Everything you have installed in the house should be efficient by all means. It would, therefore, be advisable to invest in Energy Star rated appliances or even hydronic heating for your house. Using energy efficient and eco-friendly fixtures in your home can help you save more on utility bills.
These are just but a few of the many ways you can use. Adopt to save money when building or renovating your house. You will be amazed at how much you can save by following these simple tips and tricks.