Everyone aspires to build the home of their dreams one day. Everyone hopes to construct a home where they may store their memories. But it might be quite difficult to realize a person’s dream when they want to. It is due to the high cost of building a modern home.
Building a home requires a middle-class family to invest their entire lifetime’s earnings. Finding ways to save building costs is an ongoing pursuit.
The cost of building for estate developers increased on average by 10–12% in March over the same month last year.
In the same period this year, residential costs increased from Rs 2060 per square foot in March 2021 to Rs 2300 per square foot, and industrial costs increased from Rs 1900 to 2100 per square foot.
Cement and steel, which make up a significant portion of construction costs, have seen price increases of over 20%.
Because of this, a lot of individuals view it as a significant financial commitment. For this reason, people strive to get the best value for their money by making as many savings as they can.
Additionally, some people take out loans, so it’s important to manage the funds wisely to maximize your gains.
Smart ways to Reduce Construction Cost
Check here the ways to reduce construction cost:
1. Select the Right Plot
First things first, the plot level is crucial when it comes to building a house. Try to choose a piece of land that is both level with the road and even. The overall cost of construction may go up if the plot is uneven, rocky, or significantly lower than the road level on the front. This is because you will need more supplies or tools to level the land.
2. Inquire About Using the Most Recent Technology
Pre-engineered buildings (PEBs) are gaining popularity in residential construction and are already relatively common in industrial construction. PEBs are galvanized steel structures made in factories and put together on-site, to put it simply.
Using cement and gypsum particle boards, the walls and flooring are constructed. PEBs not only facilitate quicker construction but also aid in reducing building expenses. Additionally, because they weigh a lot less, the foundation costs are also lower.
3. Don’t make last-minute changes
Any moment during the final inspection or building phase, unforeseen modifications may occur. It is advisable to stay away from these, though, as they can drastically raise the cost of building a house and even lower its overall quality.
To minimize their impact on time, money, and supplies, try to handle minor revisions or upgrades earlier in the construction process and reserve these for mission-critical changes only, such as emergencies or serious errors.
4. Life Cycle Costs Consideration
You must take into account both the up-front costs of developing your home and the overall costs it will incur over the course of its lifespan, which is normally between 30 and 50 years. You may choose high-quality, reasonably priced materials that will endure longer with the assistance of an architect. By doing this, you can reduce your future maintenance or replacement expenses. Similar to this, adopting environmentally friendly building supplies like blended cement will help you cut down on overall maintenance costs and construction costs in the long run.
5. Choose Professional Architect and Contractor
Even though employing a qualified architect and contractor will cost you money, the overall cost of building a house will be reduced significantly. In reality, a competent architect may assist you in maximizing the space at hand while minimizing material expenses and ongoing maintenance costs.
The majority of cost overruns are caused by unneeded delays in the building process. A straightforward yet effective cost-saving suggestion is to engage with a skilled contractor who rigorously keeps to deadlines and completes the project on time.
Asking your family and friends who have recently built their houses for recommendations is one of the simplest ways to find a competent architect and contractor. They can share their own experiences with you and give some excellent advice.
The next step is to draft a thorough agreement as soon as you have decided on a contractor or architect. Make sure everything is spelled out in this agreement, including who will receive the building materials, the precise costs, the deadlines for project completion and payment, and the consequences for delays.
Typically, contractors charge between 8 and 12% of the overall cost of building a house. As appealing as it might be for you to attempt and handle the building yourself in order to save money, keep in mind that you will need to hire subcontractors or supervisors, so you can’t save the entire sum. However, if you do have the time to handle it yourself, go with a straightforward house plan.
6. Buy construction materials smartly
Purchasing building supplies locally is one of the best methods to save construction costs, whether you’re looking to save money on cement, bricks and blocks, doors and windows, tiles, bathroom fixtures, or pipes. To cut costs, you can also purchase items in bulk, but storage must be handled carefully.
Utilizing the proper cement grade can even optimize cement use, resulting in cost savings and higher-quality building. For example, you can use PPC cement for non-structural work, like plastering and tiling, and OPC cement for structural work, such as building foundations, columns, and roofs.
However, if you need professional technical support, you may turn to a professional Building Advisor, who can advise you on the finest building techniques and help you make sure your home is constructed to the highest standards.
Conclusion
Many people frequently equate affordable homes with being of poor quality or lacking in amenities. Low-cost housing, on the other hand, focuses on bringing down building costs without sacrificing features or quality. Experienced people like Nidhi Aggarwal, founder of SpaceMantra, provides all types of construction materials and interior products at the best price. By following SpaceMantra you can reduce construction costs, you can save a lot of money and build a durable home for yourself!