Are you embarking on your dream to build your very own home? There are actually a number of ways to save money when you build your own home, here are just a few to help you along.
1. Find out what’s really important to you
Before you begin doing anything, try and sit down with your partner and find out what aspects of the house are the most important to each of you. Which areas are you willing to compromise in and which are a must have? Setting out clear intentions will see you saving a lot of money down the line when it suddenly comes up that one partner simply cannot do without marble counter tops, for example.
2. Find the right builder
This is an important one. Firstly, you need someone that understands what you are trying to communicate and someone you can trust. There will probably be a few setbacks, such as an extra rainy winter, or other unforeseen costs, but a good builder will build you a home on a budget
that suits you with the minimum of changes.
A bad builder might mean that they underestimate costs, or aren’t good with working with subcontractors, or have several other jobs on that they focus on. Meet with a few builders and make sure you get their references Word-of-mouth is always good, find out if you have any trusted friends who have had good experiences with builders.
3. Figure out the cost of living while you’re building
If you’re busy building your dream house it means that you don’t have one yet. Unless you are willing to live in a tent or a caravan on your property while you build, you will need to rent a place to stay, unless you already have a second property. Believe it or not this is a cost that people often don’t consider, or they underestimate the amount of room they’ll need over the time of building and rent a place too small for their needs because it is inexpensive.
Do your research and find a place to stay that is within your means as well as your needs, most builds take a bit longer than predicted due to unforeseen factors, so try and find somewhere you’ll be happy to stay in for a while. Here’s a tip: If you can, find a place that is close to your soon to be building site so that you won’t be far from the action if needed.
4. Take advantage of your builder’s discount
As you are building your own home you should qualify for a builder’s discount. Check around and find places where they offer this discount. Builders can often get items at a wholesale price as
well. This can save you a lot of money in the long run.
5. Do some of the work yourself
Are you handy at all? Pitch in and do some of the work yourself. Perhaps you can install some of the easy to install fixtures, if that’s okay with your builder, or perhaps you can lay down tiles, you can certainly paint the walls. This will all add up.
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