If you’re serious about keeping the cost of your home build down, use these tips to save money when building.
1. Get Several Bids and Select a Contractor Wisely
Unfortunately, it may take months to finally get your home build started. Part of the reason for the delay might be the first contactors you find don’t feel right.
For instance, the first contractor may not even listen to what you want and keeps challenging your budget. The second contractor may seem reasonable, and but their price range is unattainable.
However, don’t give up, the next contactor may be it. They might be exactly what you want at a price you can actually afford. Not to mention, the contractor may become a friend who helps keep your spending at a low.
Don’t just go with the first person you talk to. Even if you love a particular contractor, even if you hit it off and seem to understand one another, and even if you’re friends with the person – especially if you’re friends with the person, in fact – always seek out multiple bids to ensure you’re getting the best possible deal.
Once you’ve gotten a few bids you’re happy with, seek out references. Ask the contractor to give you the names of former customers, then sleuth a few more names on your own by asking those customers if they have any. Contractors are going to give you their best possible references, so it’s a good idea to seek out more people in order to get a well-rounded picture of the person you’re going to work with.
It’s not just the price of the home that costs you money. If contractors drag their feet or fail to effectively manage subcontractors, you may end up paying additional money to correct mistakes or to live in your current home longer while construction drags on. The goal is to find a respected and affordable contractor whose work can be trusted and who sticks to the promised timeline.
2. Elect for a Smaller, Open Footprint
The bigger the home build, the higher the cost – it’s just basic math.
Granted, if you have four kids, two pets and your elderly parents living with you, 1,000 square feet may not cut it. But the point is to focus on the things you really need.
One of the best and most efficient ways to do this is to opt for an open floor plan. It can enable you to use space in multiple ways. For instance, a kitchen with a large counter that opens up to the living room can be used as a living, dining, and working space. And, even though the uses are many, the open plan prevents it from feeling cramped.
The end result is incredibly simple and affordable.
3. Choose a Forgiving Aesthetic
Deciding to go with any sort of “industrial” or “rustic” aesthetic can be incredibly forgiving when it comes to finishing your home – specifically, you can leave some projects unfinished, and the end result still looks purposeful.
4. Do the Work Yourself
You may not be one of the handiest folks around, but your willingness to take on certain tasks can save you cash.
While it’s occasionally been a frustrating and time-consuming process learning how to take on some of these tasks, it’s also been rewarding, and it can bring you to your home.
That said, we wouldn’t suggest you take on every project yourself. Unless you have extensive experience with electricity or plumbing, you should leave running wire and laying pipe to the professionals. The last thing you want is to burn down your house or cause a flood because you didn’t set up your utilities correctly.
5. Source Materials When Possible
Talk to your contractor about sourcing your own materials. In some cases, the contractor and subcontractors can get better prices on bulk items, such as lumber and paint.
However, in other cases it makes sense to do your own digging and buy less expensive – but still high-quality – items on your own.
Generally speaking, we’d suggest you source new materials rather than pre-owned, but that depends on what you’re looking at.
6. Salvage Materials for Reuse
Use whatever you can, however, you can. Construction projects often create material waste that can be reused in other ways and in other areas. Think creatively, and don’t let your contractor simply throw scraps away until you’ve had the chance to go through them. You shouldn’t turn into a hoarder and keep everything, but you also shouldn’t simply discard good materials.
In conclusion,
When constructing your home, be careful, but don’t go overboard. You have to live in the home you build. You want to enjoy it, you want it to reflect your personality and your priorities, and you want it to be a comfortable space to spend your time in. During the construction process, it’s important to watch your bottom line and live within your budget, but you don’t want to cut corners that would negatively impact your long-term quality of life.
See Also: Things That Come with a New Home That Are Not the House
Note: This article is based on research, we encourage you to research more for more information.