Estimating the overall cost of building construction is a complex process. A mismatch between anticipated costs and actual expenses can lead to project failures, whether it is a residential or a commercial property. It is an important component of the total housing cost, the magnitude of which is very high in most large cities.
Effective cost management and value engineering are the keys that many professional builders rely on to ensure a profitable business. If you have decided to build your own house, here are some tips to reduce the cost to build a house.
- Construction Lot: Choose a location with potential growth in the future, where lots are available at very low prices. The level of the plot which is much lower than the street level may invite additional costs because it will require a greater amount of material, thus, increasing construction costs. Select lots that are on the same level as the road.
- Simple Design: Custom designs are expensive. Consider reducing the number of rooms and bathrooms to be less area. Building a two-story structure on a single story building, is a smart strategy. The high front height, along with the use of structural elements for beautification, can certainly burn a hole in your pocket.
- Reclaimed Building Materials: Buy low-maintenance building materials. Work with your contractor to source the right materials at low prices including locally available bricks, cement, etc. Older or reclaimed materials may also be used, especially for stairs. For example, judicious selection of products, RCC door frame is much cheaper than wooden door frames.
- Smart Technologies: Prefabrication is one of the latest technologies that is not only known to reduce manufacturing time but also guarantees savings. Hire reputable contractors who can help in this regard. Modern construction techniques are beneficial when it comes to achieving a greater percentage of accuracy.
- Experienced Professionals: Contractors who have been in business for a long time will have to place change orders to minimize skills to ensure quality compliance. Changes in materials or blueprints that occur during the construction process can greatly affect the cost of construction. Collaborate with a professional architect and structural designer, to get advice on how to save costs by customizing the design of the house.