Saving Money Whilst Building Your House

So you’ve finally taken the plunge. You’ve got a mortgage in place, and there’s some land you really want to develop. Does that mean now is the right time to build your own home? And you’re possibly having second thoughts as well: is it cost effective to build the house yourself? Would buying an actual property just be better? Well, no one can say for sure except you!
Building Your House
However, if you do decide it’s time to build, you’re going to want to save as much money as you can in your construction project. You never know when an emergency could crop up during the building process, and you’ll need funds to cover these. At the same time, it’s very possible you’ve underestimated how much it’s really going to take to cover all of the fees you’re landed with. 

Try Going Smaller

When building a house, as humans we always try to go for as much room as possible. People often think the standard 330 square feet of living room simply isn’t enough for them, their partner, and their children all to fit in the same space. However, considering that’s roughly the size of a one bedroom apartment alone, it’s more than sufficient. 
So try to downsize as much as you can in your plans, whilst still allowing breathing room for everyone involved. If the kids have their own space, and you have room for a guest if it’s likely you’ll get them, that’s usually all the extra space you need. 

Shop for Your Contractors

Unless you’re deciding to try and go it alone in your house making plans, you’re going to need people from an architect, to an electrician, to a scaffolding company like, on your side. An owner-builder with no experience can make a lot of mistakes in the process, and that’s not going to work well for your money at all. 
But if you’re hiring a contractor, make sure you shop around first before sticking with one. Offer your plans to multiple people and get bids from each of them, and then get the best deal you can out of these differing prices. You might even be able to haggle a price down if someone really wants the contract!
At the same time, making sure the company you’re choosing has Surety Bonds is going to be extremely cost effective. This makes sure the work will be completed, and if it isn’t you’ll receive compensations for the lost time, work, and money. 

Try to Get Your Own Materials

If you can source your own materials, you’re going to be paying a lot less than buying through another supplier. Similarly, if you know that’s something you wouldn’t be able to manage, try speaking to your builder or contractor to see if they can cut a deal with their own trusted suppliers. You still want good quality material after all, just at a better rate for the entire house. 
Houses aren’t cheap! Saving money whilst building your own house is a considerable feat, so be proud you’ve gotten this far already.

Leave a Reply

Your email address will not be published. Required fields are marked *