The burden of living with a 20 year mortgage can be draining and that's why an increasing amount of people are choosing to build their own houses cheaper. Imagine the relief of only having to pay off the house in 6-7 years instead of 20! However, there are also certain challenges which come with this idea of building a home cheaper, such as land ownership and also getting a loan for the cost of construction. This is why the budget has to kept as low as possible. Unfortunately, there is no easy tricks to build a cheaper house, but with a lot of long-term financial planning and budgeting, it is definitely possible to achieve. We've compiled some basic tips here, but you will clearly need to more research of your own. We've also included some helpful links and tags to articles and directories on homify to inspire you a little more.
Do not make impulsive decisions based on first impressions when it comes to choosing a contractor to build your home, even if they were recommended by a friend. Make sure you get several different bids on the prices so that you are aware of the range of market prices available. Narrow down the list to the contractors you feel most comfortable with in terms of their work ethic and price. Next, ask these contractors for references from former clients. The goal should be to find a respectable contractor who has an efficient team and can meet the timelines for the project. For more information, please also read building a house: hire a contractor or do it on your own?
The best way to save money is to build a small home. However, it is not enough that it is small, it should also be designed properly so that it is space-efficient. One design that works well is the open floor plan, which enables residents to use spaces in multiple ways. For example, a living room with a small kitchen can also be used as a dining room and study room. Basically, with an open floor plan, you have less walls, doors, windows, wiring, plumbing and hallways, reducing the cost of building your house drastically. For more inspiration, take a look at our article titled 2018 trends for building and designing a house.
There are many trendy and popular styles such as the industrial design style and rustic style, which can help you to lower your budget and still have a beautiful modern home. For example, with the industrial design style, walls are left bare without plaster or paint and the concrete on the floor is exposed, saving lots of money. Low-key styles also often used recycled furniture or reuse things such as pallets and wooden crates to furnish the homes. For more ideas, have a look at our article titled Love rustic homes? Install fake wood beams.
Do-it-yourself and you might save some money. However, make sure you are well informed about what you have to do and have some assistance if needed. There are many things you can do on your own when it comes to building a home even if you are not well informed such as installing sinks. doors and windows. Here are 14 different designs of space-saving sliding doors for your inspiration.
You may be able to save a lot of money by sourcing your own materials if you manage to get the proper contacts, but this requires extra effort and lots of research on your part. However, in some cases contractors can often get better prices since they order in bulk, so it could end up being a better deal but it's always best to be aware of the best prices available on the market for the materials you require to build your house so you can negotiate the prices with better clarity.
It is important to keep priorities straight. Aesthetics are important, but far more money needs to be spent on making the house secure and safe. Make sure you set aside enough money for the security of your home. And never try to save money when it comes to building the foundations on your home. Opt for the better quality material, although it may be more expensive. It will actually save you money in the long-run. For more ideas, here are 12 home facade designs for privacy and security.
Many materials can be salvaged for free sometimes from big junkyards. Even seemingly useless scrap metals and pieces of wood can be used to build something for your home like a fence or perhaps even a garden bed. Old car tires are also great for making outdoor furniture or even swings for the kids.
We hope you've been inspired by the tips here. For more ideas like this, check out our article titled building a house based on SIP technology.