Having your own house is one of the greatest dreams of everyone. However, considering how fragile the economy is right now and how timid banks are to loan money for new home construction, it is important to find some effective and inexpensive ways to build your dream home. Home building process involves a lot of work. You must be ready before starting this stressful project. Here are 6 great tips to help you cut cost when building your own house.
1. Home Building: Pick The Right Plot Of Land
Firstly, picking the right piece of land could save you a lot of money when you build your new house. Actually, it could easily make tens of thousands of dollars difference in construction and maintenance costs. So before you buy a particular land, make sure that it can be built on without excessive expenses like clearing and blasting rock. Also, check what the land’s been used for in the past. Maybe it’s loaded with DDT or some other noxious pesticide from a farm that existed there decades earlier.
Sometimes you may find a very appealing property but much larger than what you are looking for or can afford. Yet the seller may not be willing to break up that large parcel. In that case, you can share the cost with someone else and split into two smaller lots. You may be able to pick up a great building site for a good price.
2. Visit Many Houses
When you embark on this adventure of a lifetime, you may just have an idea about your dream home. So make sure to visit a lot of different homes to get another perspective and a better idea of what you like. This process will give you tons of ideas and get inspiration for your dream house.
3. Cut Cost: Get Little Help From Friends
If you are looking for other ways to cut cost while building your house, having some friends or family could save you a lot of money. For example, if you are fortunate to have friends who can design your house (architect), kitchen, bathroom and cabinets that could be great
4. Select Contractors Wisely
Take time to research and find the right home contractors. Because hiring the wrong one can be a very bad experience. There are so many shady businessmen out there just ready to challenge your budget. And they won’t meet your expectations. Avoid going with the first person you talk to, even if you love a particular contractor and seem to understand one another. Use only a certified general contractor. The experience of a well-qualified contractor is invaluable to the home building process. Do your homework. Get a list of references and look into their past works.
5. Be Clear With Your Contractors
Another great way to cut cost when building your new home is to be clear with your general contractor. Communication with your contractors is very important. It should be stronger than the communication in your marriage. Be specific, and make sure you are all on the same page. For instance for your dream home, if you really want vinyl siding, but your builder doesn’t know that he could put up something you don’t want, like stucco. Be cordial but direct. That will save you many headaches and arguments in the end.
6. Source Materials When Possible
When it comes to sourcing materials for your dream home, sometimes home contractors may get better prices on home building items. However, it makes sense to do your own digging and buy inexpensively. But still high-quality items on your own. If you want to import some products, make sure that they meet the local building code requirements. Because if your building inspector rejects some installed products as not meeting local code, it will be very hard to return them. When purchasing your appliances or hiring heavy construction equipment then go through a bidding process. Ask for a detailed line item bid list and a general list before making any decisions. That will help you get an accurate idea of each item price and save you money just in case you have to replace or add specific items during the home building process.
Written by Famio Services Team