Building a new house is an expensive venture, but there are ways of bringing down the total cost of construction. However, this does not mean compromising the quality of the workmanship. Some of these cost-cutting schemes include the following.
Careful Choice of Land
The cost of land is usually included in the final cost of the house. Getting the right piece of land becomes hard and tricky because of scarcity and high prices. The land is more expensive in metropolitan places. You can choose a reputable realtor or land developer to help you get a good piece of land at a fair price.
Invest in Problematic Lots with Caution
Such places include hills and lots located on in-fill. They attract lower asking prices because they have never been developed before. They make a great choice especially when they are close to infrastructure and other homes. However, it is wise to consult your realtor first before committing yourself. This is because though they might be cheap to buy, the cost of developing them might be very costly.
Share the Cost of the Lot with Someone else
In case you find an appropriate lot that you need but it is too big for your needs, then it would be cheaper to acquire if you split the cost with another person. This will bring down the cost of acquiring land considerably. However, you must adhere to the various local laws governing the subdivision of land. Also, find out what can be legally built on such a lot.
Choose Your Design Carefully
A stock plan is usually cheaper because most houses are laid down with such a blueprint, and the builders are familiar with its requirements. If you opt for a custom design, the contractor will have to rely solely on the provided dimensions they have not seen before. As a result, the total cost will likely exceed the initial estimate.
Most people fear to build a house from scratch due to the high cost of construction. However, building a new house is still manageable if you follow the above tips. Found a great article here that will give you 7 tips on how to save money with new construction, check it out here.