Owning or building a house of your own is a dream of many, but what goes into turning this dream into reality is a lot of safe and smart planning. Although constructing a home is not as easy as it may sound, with increasing market prices of plot, building material prices, etc. the challenge only gets grave.
People often find the task of building a low budget home construction in India to be challenging and unfulfilling, as they are unaware of the ways through which this could be accomplished.
In this blog we tell you the necessary tips and tricks you can imbibe to save your construction cost.
1. Shop around for the best prices on materials and labor
The major challenge that you might face while deciding to build your own house is to search and stock the best low-cost construction materialsavailable in the markets. You can visit 3-4 hardware stores and get a quote of the materials you would require. Compare the construction material rates and select the best option out of it. Doing this would help you select the quality materials at the best prices and eventually would save you a lot of money.
Second step is to invest in dedicated labor who would stick to the deadline of completing the project in time without unnecessary delays. For this, you can rely on your contractor, who might get you the right quality of labor for your project.
2. Look for ways to reduce energy costs, such as installing energy-efficient windows and appliances
Energy efficiency refers to the process of using less energy to do the same jobs, reducing your home’s energy consumption and saving money. You do market research to select and install the materials that would be energy efficient. For example; utilize Low-E windows. These windows can help keep your interior cool during summer and could also block harmful radiations from the sun from entering your house.
Other energy efficient materials that you can install in your house to save the energy cost are; thermostat radiant barriers, wood or plastic composite lumber, vacuum insulation panels, and insulated concrete forms.
3. Take advantage of tax credits and other incentives for energy-efficient construction.
To help provide incentives for homeowners to make energy efficient home improvements, the federal government offers tax credits as a way to offset the cost of these repairs. This is not a cash in your hand, but a credit you can claim on your annual tax return that may reduce the federal taxes you pay as a homeowner.
4. Consider using prefabricated components to save time and money.
Prefabrication is a practice of assembling the building components in a factory or at a manufacturing site and then transporting these elements from the assembly site to the site of construction of the building or structure. This process is majorly utilized by the contractors for the construction of big projects and houses. This process is cost effective, as moving modular components from a factory is often cheaper than moving materials to a site.
Prefabricated building materials are the building materials that are manufactured off-site and shipped later to assemble at the final location. Some of the commonly used prefabricated building materials are aluminum steel, wood, fiberglass, and concrete.
5. Reuse existing materials whenever possible.
While rebuilding an already existing house or structure, a lot of building components could be retrieved as it is without damage. You can utilize the same instead of purchasing the new building materials for construction.
Many building components and construction debris can be reused. For example; wood can be recycled into engineered wood products like furniture. Doing this can save you a lot of money on purchasing the fresh components for your house.
6. Hire a contractor who is willing to negotiate on price
A contractor who would be ready to negotiate on the price or is willing to come down on the initial rates that he quoted can save you a lot of money. The greatest investment you can make while building your house is to hire a potential contractor who is willing to work according to your budget restrictions.
7. Ask for discounts from suppliers and subcontractors.
Getting what you want at the lowest price is not always the goal when negotiating with suppliers. Other issues, like shipping fees/times, payment terms, or product quality, might be worth negotiating over.
The majority of business owners would consider a good bargain to be one that satisfies all the criteria. However, there are a lot of other things to think about, such as if you would want to work with a supplier again.
8. Consider doing some of the work yourself to save money
building a home is to get your hands dirty at some of the stuff. Doing some work yourself could save you some unnecessary expenses spent on the construction of your house. You can give inputs on stuff like whitewashing the house after the construction finishes, etc.
People sometimes equate low budget home construction with low-quality housing construction, which is false. Since low-cost housing focuses on lowering building costs while maintaining high construction standards. The above mentioned advice or points will help you analyze and select the best construction material rates. And would also help you manage the money in hand to best optimize the output.