Estimating the overall cost of building construction is a complex process. A mismatch between anticipated costs and actual expenses can lead to project failures, irrespective of whether it is a residential or a commercial property. It is also a crucial component of the total housing cost, the magnitude of which is very high in most of the big Indian cities. Effective cost management and value engineering are keys many professional builders rely on for ensuring a profitable business. If you have decided to construct your own house, here are some tips to save on the cost of construction.
Choose a location with potential developments in the future, where plots are available at much lower prices. The level of the plot which is much lower than the level of the road can invite additional costs as it will require more quantity of filling material, thus, increasing the construction costs. Select plots which are at the same level as the road.
Custom designs are costlier. A small floor plan with a square or rectangular layout will require less time and money, while consuming fewer materials per unit built-up area, thus, reducing the overall expenditure. Think about having reduced area by minimising the number of rooms and bathrooms. Building a two-storey structure over a one-storey building, is a smart strategy. High front elevation with the use of structural elements for beautification, can sure burn a hole in your pocket.
Reclaimed building materials
Buy low-maintenance construction materials. Work with your contractor to source the right materials at lower prices which include locally available bricks, cement, etc. Old or reclaimed materials could also be used, particularly for staircases. Perform judicious selection of products, for instance, RCC (Reinforced Concrete Cement) door frames are much cheaper compared to wooden door frames. Negotiate with various stakeholders for discounts while buying materials in bulk.
Prefabrication is one of the latest technologies that is known to not just curtail construction time but guarantee savings as well. Hire reputable contractors who can help in this regard. Modern construction techniques are advantageous when it comes to achieving a greater percentage of accuracy.
Contractors who have stayed in the business for long will possess the skills to keep change orders to a minimum while also ensuring quality compliance. Changes in materials or blueprints which occur during the building process can highly impact the cost of construction. Collaborate with a professional architect and structural designer, to seek advice on saving costs by optimising the house design.