How To Save Money Building Your Own House
SAVING MONEY ON BUILDING YOUR OWN HOME
Building a house is an extremely tedious and expensive venture.
Especially today, people want to get the most for their buck and yet have the most to show for it.
There are ways to save big bucks when you're building a home....or anything for that matter.
Let's look at some of the best ways to bring down the high cost of building a home.
TIPS ON SAVING MONEY WHEN BUILDING A HOME
If you want to save between 5% and 10% on your new home, the best way to do that is to be your own general contractor. However, in order to do this, you have to have some knowledge of the construction industry and obviously how homes are built.
Some of it is about saving money of course. But other parts of building a home are things like safety, energy efficiency, where you live, what materials will work and which ones won't.
If you have a passing knowledge of construction, you might not be cut out for the job, but if you do think you can handle it, look on line and study more on what it takes to be your own general contractor. If you think you can do it, go for it!
In order to build a house, you have to have property to build it on. Of utmost importance is knowing that any piece of property you want to build on is equipped for building upon!
It has to have access to utilities, drinking water and sewage to be buildable. It also should be looked at in terms of type of soil and location.
For instance, you don't want a home built on soil that is made of primarily silt or soil that will not withstand heavy rains.
You also don't want a house on a slope or too close to the edge where again, with improper soil and the right weather conditions, you could find yourself "moving" whether you liked it or not!
What type of house do you want? Design has everything to do with how much a house will ultimately cost you. It also has to do with whether or not it will fit on a certain piece of property.
For instance, a split-level house will fit on a much narrower piece of property than a ranch style house.
On the other hand, if you're set on a ranch style house because of age and other factors, you'll have to accept that it will probably cost more to build....simply because the foundation for a split level home compared to a ranch style will be about double!
The property of course will have to be wider to accommodate a ranch style home so that is also a consideration in pricing.
TALK OVER SAVING MONEY WITH YOUR BUILDER
Talking it over can save you money. No matter who your builder is, he will most likely be familiar with the concept of a buyer trying to save money!
Be up front from the beginning and once you begin the project, talk about it frequently with him.
Tell him that you want to save money and to do that, you're willing to do many jobs yourself.
Some of the things that you can do yourself to save money?
TIPS AND TRICKS ON SAVING MONEY WHEN BUILDING YOUR OWN HOUSE
Here's some of the things you can do to save money when having your house built.
- Job clean up. Keeping the areas
clean while the house is being built is essential to a timely work
schedule. You can save the workers time
by keeping things out of their way and making sure they have free access to
what areas they're working on. It also
can assure you that cigarette butts and nails won't get buried under your
carpet that you won't discover until years later when you redo the flooring!
- Painting. Just about anyone can paint. If you offer to paint your own house, you'll be saving thousands of dollars right off the top. Again, make sure you've mentioned this to your builder from the beginning and make arrangements with him about timelines. You can paint trim, you can paint doors, you can paint walls, and you can paint the entire outside of your house to save money. Enlist friends, family and neighbors to help and you'll get done even quicker.
- Flooring. If you know how to do flooring, ask the builder if you can handle this part of the construction project as well. Perhaps you know how to lay carpeting or you have a friend who'll do it for peanuts. Work it out with the builder and save money doing it. Even if you can't lay tile or you can't put in wood flooring, you CAN buy the supplies on sale and have the materials delivered. You can negotiate with the builder on how much his subcontractors charge or you can hire someone.....again, a friend or someone who works for less to do the job for you. By buying discontinued flooring products, you can save buckets of money.
- Repurposed materials. Scour salvage yards, hardware stores or any place you can think of to find used or slightly damaged fixtures, bathroom supplies, and more. Look online or inquire locally to find out if there are any sources for picking up used supplies or what are called surplus supplies. You're not only saving money but you're helping the environment as well by recycling. Also consider buying floor models or remnants of carpeting for example. As long as it fits and is the right color, it doesn't matter whether it's new or used.
- Scratch and dent. Look into scratch and dent stores, online stores, or discount stores such as Costco for appliances. You need functional....you need the best that you can buy but you don't need the best that money can buy. You can save thousands on appliances by buying them used on Craigslist or eBay. There are even many floor models or barely used choices to pick from. Put on your frugal thinking cap to save money on appliances for your new home and then spend the dough to have them installed properly. Do the same with sinks and tubs, shower enclosures, etc.
- Doors and cabinets. Think salvage for things like cabinets, cabinet doors, doors, windows or window frames, closet doors. Even lighting fixtures can be refurbished and cleaned up and if you get them at a steal, more money in your pocket.
- Landscaping. Get the yard you want for at least half the price. Make arrangements with the builder to do your own landscaping work. If you need help putting up a fence, buy the materials that you want and even stain it yourself, but have the builder hire a subcontractor put that up. If you know how to put up fencing, do that yourself too. For all the other landscaping, you can save a ton of money buying your own dirt, sod, trees and plants. You'll just need the sweat of your brow and your elbow grease to make it all work. Look online for resources on gardening and landscaping or consult with local nurseries and rock yards. They even have classes at stores like Home Depot and Lowe's that can be invaluable sources when it comes to landscaping or how to build things for landscaping.
- Decking. If you think you can put up your own deck, do it. If not, have the builder pay a subcontractor to do it but see if you can't be the apprentice. There are all kinds of odd jobs that you can do to save money but make sure you're clear on how much of a discount you'll get for your help before investing your time and sweat. The great thing about being an apprentice on your own house building is that you learn all kinds of tricks and tools that you can apply someday to something else or advice you can give someone else on how to build their own home.
HOW TO SAVE MONEY WHEN BUILDING YOUR OWN HOME
No matter what major or minor ways you can save money building a new home, there is really no limit to what you can do.
The most important point is having a builder who is willing to work with you on saving money! You'll get the house of your dreams and you'll save money too. It's a win-win situation.
Do your homework and always buy on sale or get the best deal possible.
Don't discount online shopping and even coupons or rebates from major manufacturers if you're buying high end ticket items like doors or windows.
Try and invest in energy efficient products for your home and even check with your local energy company to find out if there are certain products that are eco-friendly which might also offer discounts or tax credits.
Also ask about rebates from the electric company on energy-efficient products or tips on who to buy from.
Building a house is one of the most expensive things you'll ever encounter but with a little creativity and some work, you can save money!
If you have more money-saving tips on how to save money when building your own house, please leave your comments below and enhance this article.
Sources for Building Your Own House
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