One of the most important and also expensive investments that you will ever make is building a new home. And while the thought of having a house that’s customized to your personal liking is definitely something to look forward to, we’re pretty sure that you’d like to know about some of the ways that you can save on expenses in the process.
So, in order to make the construction process as affordable as possible, we’ve provided you with a list of five tips for building a new home construction when you’re on a tight budget below:
Get several estimates. It’s understandable that you might be really excited to get started on your new place. However, this doesn’t mean that you should go with the first contractor that you meet. In order to get the most professional team working on your house at the most cost-effective price, it’s a good idea that you make the time to get between 3-5 estimates. For each contractor, personally interview them, ask to see their portfolio and request some references of similar projects they’ve done that are like yours. That will help you to decide which contractor you should go with.
Consider a prefabricated home. While there used to be a time when a lot of people frowned on prefabricated homes, as upgrades have been made, it’s now considered to be a pretty viable option. If you’re not familiar with exactly what a prefabricated house is, it’s a home that has many parts of it built away from your property and then brought over to you. Prefabricated houses are considered to be extremely well-built, energy-efficient and because of that, it can save you money on your construction costs.
Install some “green” things. One thing that we recommend you do when building a new house is to have some “green” things installed. These would include using sustainable materials, putting in a low-flow toilet and showerhead in your bathroom, adding a tankless water heater and when it’s time to put in some appliances, using ones that have an Energy Star label on them. By doing all of these things, you can reduce your energy costs by as much as 30-40 percent annually.
Build during the off-season. There’s a pretty good chance that in the midst of your house project, you will need to use a crane company like Bigge Crane in order to ship certain materials or pieces of equipment over. Well, if you happened to ask the manager of a crane company about something else that you can do to reduce construction costs, one thing that they might recommend is building your house during the off-season. For contractors, that would be during the winter season because that’s the time of year when people tend to focus more on holiday shopping than house building. So, look into getting quotes around early-mid December. You might be surprised by how much of a discount you can get by doing so.
Do some projects yourself. Thanks to websites like This Old House, Bob Villa and DIY Network, there are a lot of projects that you can do yourself. That said, while we recommend that you leave the structuring of the house to the experts, when it comes to doing a lot of interior work, consider doing things like painting, tiling your floors and putting an island in your kitchen yourself. It’s cheaper and you’ll feel really proud about taking on some of your house construction projects.