How to Reduce the Cost of Building a New House on a Budget

How to reduce the cost of building a new house on a budget? Here are 8 affordable ways!

building a new house on a budget

Photo by Ivan Samkov from Pexels

Building a new home from scratch is a huge milestone in anyone’s life. You get to make it just the way you want it and tailor it entirely to your family’s needs. However, this also means that this endeavor requires an immense amount of planning and budgeting. You can save a lot of money during the construction process if you only know how. Here are a few tips on reducing the building costs of your new abode.

Choose the right lot

If you think you can save big bucks by choosing an affordable lot, think again. Cheap lots might look like a jackpot, but you will have more trouble with them than they’re worth. First of all, never compromise on the location just for the price. Secondly, a budget lot might hide unseen problems underneath, for instance, a rocky ground that builders are going to have trouble with or trees that need to be removed. Installing utilities is also going to be complicated and expensive. So, make sure you choose a lot you won’t regret picking!

Budget well

Such an expensive endeavor as building a house requires extensive budgeting. Make sure you plan for the process well and have an emergency fund. Be sure to gather as much information on the building process as you can to find hidden costs and create accurate estimates regarding all the expenses. This step is crucial so that you will make the most of the money you saved so carefully for this huge occasion.

Shop around

Next up, before you sign any papers or make any agreements, it’s crucial to “shop around” a bit. Don’t settle for the first contractor, especially if you are not entirely satisfied with their terms. Delaying the construction of your home is more than worth it if this way, you can get a better bid. So, get quotes from several contractors before you make your decision and research them well to make sure they are reliable and can deliver on their promise.

Smaller is better

The next way to save money on house construction is by going for a smaller home. This might sound like a no-brainer, but there is more to it than just paying for fewer materials. Eliminating “phantom space” from a design, for instance, will make sure you maximize your living space and are not paying for more than you can use. A smaller home that has a clever design still gives ample space to fit your whole family but has a smaller eco-footprint and costs less to maintain. Check out display homes in your area to see what great design is all about.

Simplicity saves you money

Similarly, to the previous tip, you should know that the simpler a design is, the cheaper it is to construct it. Your dream home might look a certain way, but a fussy plan with all kinds of shapes, especially if they are nonstandard, can skyrocket your construction expenses. A good way to cut corners is thus by literally cutting corners. The fewer corners there are on your exterior walls, the easier it is to construct the design, and the less it will cost you in labor.

Go green

The next thing you should keep in mind from the very beginning of your construction is eco-friendliness. Thinking in a green way and focusing on building a sustainable home might not save you money immediately, but you can rest assured it will make a huge difference in the long term. Do not try to be frugal here: pay the extra for proper insulation that will cut your heating bills, choose energy efficient-appliances or even implement renewable energy sources. It’s an investment that’s worth it in the long term.

Use recycled materials

Another good way to save a few bucks during construction and even protect the environment at the same time is using recycled materials. Talk to your contractors and ask if you can source your materials yourself. Besides using reclaimed materials, you should also try to salvage whatever you can during the building process. There is always some extra material left during construction and you might be able to reuse the waste created too.

Leave it to professionals

Finally, a piece of advice to live by is: leave it to the professionals. You won’t be building a home very often, so this one time, it’s better to do it properly. Consult professionals every step of the way and don’t go for DIY unless you really know what you are doing. The cost of correcting mistakes will be much higher than what you would have paid to those professionals in the first place.

Constructing a home is not cheap, so you should do your best to cut costs wherever you can. Hopefully, these tips give you a good starting point.

Author BIO

Maggie Holmes is a passionate blog writer who is extremely keen on writing about fashion, lifestyle, pets, and technology. Her exclusive hobby is surfing the net to find amazing articles that can inspire her with some fresh ideas for article writing. She loathes being a common person who wastes her time. Follow her on Twitter.

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