When it comes to building or expanding your home, you almost always get what you pay for. Cutting corners usually leads to poor workmanship, which will inevitably come to bite you in the rear in the long run. But there are ways that you can save a few dollars on home construction without hurting your cause.
Build Up, Not Out
First of all, if you are building an addition to your home, consider building up as opposed to out. The most expensive part of construction is the foundation, and the smaller the footprint of your addition, the cheaper your project will be. Since excavation and foundation work cost so much, it makes a lot more sense to add a second story than to make your blueprints a sprawling plan.
Go for Experience Not Just Price
Secondly, you should choose the home builder who comes to you with the most experience. He won’t be the cheapest, which at prima facie seems counterintuitive. But think about the fact that using a less-experienced (or, heavens forbid) an unlicensed builder can eventually cost you untold thousands if your project goes over budget or if they make sloppy mistakes. A builder who is a true professional will know what pitfalls to anticipate and will give you the most realistic idea of what you will be spending. And you’ll have peace of mind knowing that your build is safe and sound.
DIY Whatever You Can
Another way to cut back on the bucks you spend is to act as your own contractor. This alone can save you about 20 percent of the cost of building or renovating your home. And it’s not as crazy a thought as you might initially imagine. Realtor.com recommends The Owner-Builder Book, by Mark and Elaine Smith, which comes packed with several DIY forms to make the building process run smoothly. Of course you will subcontract the work you can’t do yourself, like the plumbing and electrical.
Price Out Your Materials First
A final tip? Before you start building, price out everything… every last nail, piece of wire, and drawer handle. What grade materials you use - builder or custom grade, for instance - will greatly impact your bottom line, so make these decisions before you strike the first hammer. When you make that decision, it’s always best to opt for the grade that offers long-term warranties.
In short, you can save money on home construction, but you have to be smart about it. Only cut corners that make sense, because in the long run, unwise shortcuts can come back to haunt you.
