4 Practical Ways to Save Money when Building a House

Building house

Everyone dreams of having a house of their own. But with increasing land prices, raw material costs, and labor charges, building your house can be financially overwhelming. Below are some practical tips that can help you construct a house without breaking the bank.

Reduce Square Footage

It seems like the obvious solution, but reducing the square footage of your entire home will greatly reduce costs. This does not mean settling for a smaller home. Minimizing square footage can also mean making the most of your space.

For instance, it is smarter to build upward instead of outward. Extending upwards gives you more floor space within a smaller floor plan. This is a wiser choice compared to extending outwards, which increases your indoor living space in exchange for your garden space.

Choose a Stock Design

Making a floor plan from scratch can be overwhelming. Choosing a stock design, on the other hand, saves time, money, and energy. Most contractors and home manufacturers offer dozens of stock house plans that they have mastered over the years. This saves you from possible construction errors and additional costs.

Stock floor plans are designed for general use. You can use one for the moment and just make changes in the future when you have saved up enough money.

Switch to Simple Roofing

The roof is one of the basic components of your house and can easily be the most expensive. A simpler style will result in cheaper costs. Complex roof systems with steeper pitches may be the clear choice if you want to elevate the visual appeal of your house, but they can easily drain your budget.

A flat roof is one of the most practical options in the market. A flat insulation board can cost as low as 80 cents per foot. Taking inspiration from commercial flat roofing, residential owners have also chosen this style to adopt a modern yet affordable look. The Alden B. Dow Home Studio in Midland Michigan, for instance, won the 2019 Modernism in America Awards for their use of flat roofs in recent projects.

Unlike other roof styles, flat roofs are accessible and can be maximized for other purposes. You can easily transform the extra space into a rooftop garden or a relaxation area.

Opt for Flooring Alternatives

There are many flooring options that are budget-friendly but still high on style and quality. Ceramic tiles are generally priced at $0.50 per square foot. These are highly sturdy, resistant to water, and easy to maintain. You can also get vinyl planks and tiles for less than $1 per square foot. They look almost like wood or natural stone flooring but are softer to walk on. Most vinyl tiles are DIY types and can easily be placed over any kind of subfloor. This saves you even more money on installation.

If you’re really keen on getting 100% wood flooring, you can opt for builder-grade hardwood for less than $2 per square foot. But because you are dealing with raw wood, consider additional refinishing costs like sanding and varnishing.

Don’t let budget constraints stop you from building your house. Knowing different construction alternatives can result to more time and profit savings.

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