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Can You Really Afford To Build Your Own House?

Can You Really Afford To Build Your Own House?
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The opportunity to build your own home is something that so many of us would love to have. It means that you have the house of your dreams, designed exactly to your needs and wants. If you want a light up dance floor in your basement – crack on. If you want a garden in the middle of your hallway – go ahead. It really is a chance to create something truly unique and specific to you and your family.

 

The problem is all of these needs and wants come with  a price, and that price can be high. The level of planning, organizing and budgeting involved is enough to put the faint-hearted of people off and lead them to buying a regular house from the market. However, if you are determined to build your dream home, there are ways to keep the costs down to an affordable level. Here, we are going to look at some of the ways in which you can do this.

 

Set a budget – and stick to it

It is absolutely essential that you set a budget, whether you are a multi-millionaire or doing it on a shoestring. It makes it easier to stick to the plans and not go off on a tangent, and helps you from spending more money than necessary; something that everyone wants! Ensure that you do this right at the beginning of the design process and communicate it to your architects, project managers, contractors, suppliers and everyone else involved in the design and build process.

Research your suppliers

If you have a project manager, they will usually take control of organizing suppliers and will work within your budget. However, if you are managing the build yourself, this is something that you will need to do. Before you start buying, research the different suppliers of Building products. Remember, while you do not want to blow your budget, the cheapest is not always the best value for money. This is your home; you want to live in it safely and comfortably for years to come, so make sure you consider quality as well as cost. It is sometimes better to compromise on some design features rather than the quality of your building materials.

 

DIY where you can

If you can do something yourself, do it! Labor costs can be one of the most significant expenses of a house build project, so this is a way of reducing them. Even if you have never picked up a drill before, you can perhaps get involved with decorating or gardening rather than pay someone to do that. Some tasks – anything to do with plumbing, electrics and gas systems should always be done by a professional contractor for obvious safety reasons.

Building your own home can be more than affordable. With the right planning, the right research and choosing a team of quality contractors and doing what you can yourself, you can keep costs affordable to allow you to have the home of your dreams. 

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