One of the key questions aspiring property owners ask is if it's possible to save money when building a new commercial property or home. Considering how timid the banks have become when it comes to offering loans because of the fragile economy, it's no wonder people want to know how to save money on building supplies, construction equipment and labour charges. The quick answer is that you can actually save money on your house construction, provided you keep the following tips in mind.
Purchasing the right portion of land is one of the best ways to save funds when building a house. Do your research before buying the land, and ensure it's suitable for construction — you don't want to incur extra expenses like blasting rocks and clearing the area. While untouched land may seem incredible (especially if it's located on a mountain), the process of clearing the rocks, trees and levelling adds up the building costs. What's more, such land might not have access to sewage lines and drinking water, so adding them will increase the costs.
Size of the house
Another factor that determines the amount of money you'll spend is house size. Each square foot you choose to add to your building's footprint will cost money. Usually, the size of the house impacts each aspect of construction, from the foundation to the roofing and the last paint coat. Experts recommend getting a floor plan that contains all the required space for all the amenities. This way, future modifications can be made at an insignificant cost if you decide to make changes.
Reuse some building materials
Instead of purchasing new building supplies, consider saving money by going 'green'. Reusing throwaways or parts that have been reclaimed from demolition helps save some money and gives the new building a wonderful aesthetic. Recycled building materials come at a reduced cost, meaning you'll save money.
For building materials that cannot be recycled or reused, do your research to get the best deals, especially from wholesalers. Search for clearances, sales, returns and reconditioned or discontinued products. You should find suitable deals that can save you money.
Are you a trained and experienced general construction contractor? Well, you can save money by being part of the building team or being a general contractor. Note that this option is only for people who possess extensive knowledge of the building industry and process. If you are great at being a contractor, you can save money on labour expenses.