Precisely estimating the overall cost is a daunting task because the anticipated and actual expenses might mismatch. All this can lead to failure in projects, be it commercial or residential property. Furthermore, the fluctuation and the increase in costs, material prices, and labor changes have made it more difficult to do accurate construction estimates.
And all this is making it difficult for people in India to build the house of their dreams. Whether you are about to get your home constructed from scratch or want to do a home renovation, cutting back on expenses is what everyone wants.
And what if we tell you that you can cut some costs and save some cash? Keep reading as we will share some tips on how you can save money through effective cost management techniques while constructing a house.
House Construction Categories
The house construction is divided into four categories, namely;
- Labor cost including manpower, external development, brickwork, other finishing
- Architectural or design cost including floor plan, wood designs, constructing pillars, and MEP building design
- Material cost, including sand, cement, blocks, tiles, bricks, etc.
- And land cost, including the cost of land for construction
Now, either you go minimalist or want to build an exotic house, let’s dive deep into how you can reduce the construction cost from the categories mentioned above.
1. Land Cost Saving
While choosing a plot, consider the plot on the road level from the front, neither too high nor too low. Because if the level is lower, you might end up getting more quantity of filling material to level the plot. This will cost you extra money. Furthermore, it is also recommended to check the Floor Space Index (FSI) of the location because if the FSI is high, the cost of constructing the home will be less. The FSI regulations keep on changing, so make sure to choose the plot that meets your current and future requirements.
Moreover, find a place that has the potential for development in the near future or is available at a low cost. This will help you keep some money in your pocket.
2. Saving in Design or Architectural Cost
The majority of the people prepare CAD drawings but are unaware of the fact that preparing structural drawings of the building is also necessary. Detailed planning of column and bean, framing, foundation, and other components can help save a lot of money. This planning will give a rough construction estimate, and the required amount of sand, bricks, rods can be calculated beforehand.
Consider small floor plans as it requires less money and time, whereas customization will cost you more. The reason is that simple floor, for example, square or rectangular floor plans, requires less material per unit built-up area, which helps to reduce the costs altogether. Additionally, you can opt for minimalist tiles that are affordable and not go for designer tiles. And for the walls, you can make the space more effective by keeping them minimum.
For those who want to use the wood for designing the interior, you can consider economic options such as a wild jack or jackfruit tree instead of going for rather expensive woods.
3. Construction Material Saving
Optimize going for regional cement and prefer using PPC instead of OPC cement. Locals such as Penna cement or Chettinad cement are of great quality. PPC cement helps minimize the occurrence of cracks in the foundation because of its low thermal conductivity.
Besides, compare the cost of fly-ash and first-class bricks and go for bricks that are reasonable. You can prefer using AAXC blocks if you are about to construct more than three floors. These blocks will save cooling costs in the long run. Similarly, for plastering, you can search out local markets such as Neeru.
For flooring, you can use cement mosaic tiles instead of designer tiles hence reducing the flooring work’s cost. However, for house wiring, it is recommended to go for branded wires as it’s not a good idea to compromise the safety of your family. Avoid false ceilings and go for a simple POP finish for the roof.
Do it yourself is the approach you can use to save money when it comes to painting the house. Choose semi-acrylic paint and, if possible, paint the walls yourself.
4. Labor Cost Saving
A resourceful team will help ensure quality and save you time, whereas a non-competent team might initially quote low but will cost overhead in the long run. Going for concealed wiring is a good idea as your house will look aesthetically appealing, but it might increase labor costs.
Mostly, people like to add a great front elevation to give their building a rich look, but it will make a hole in your pocket, and all the money will drain down through it. Keep your house minimalist, and try not to use unnecessary structural elements for beautification.
There’s a thin line between being frugal and being a miser. It’s okay to be frugal but don’t go over the board as you have to live in your home for the years to come. During the construction process, keeping your house comfortable should be your top priority, but it is important to watch your bottom line.
So, tell us; Have you built your home? How you maintained your budget?