How to avoid going over budget while building your new house
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I picked this topic to discuss because it is common to many readers who have experienced going over budget in the building of their own houses.
More often than not, there are three main reasons for home-building that exceeds a person’s budget: different needs and home-owners’ tastes; commercialisation of construction materials; and unrestricted work and budget plans.
But before delving into the details of the matter, let’s bear in mind the fact that in reality there is no such thing as the perfect home.
That is because key factors that contribute to the completion of the house, whether it is construction materials or workers, are not all 100 per cent controllable.
This is precisely why those opting for home-building have always had unexpected circumstances to relate. No matter how good the planning and teamwork is, a house will never be perfect. And once we accept this fact, we will become less stressed.
Now we will discuss the essentials to avoiding going over budget in the construction of a house.
1. Be clear about your needs and the needs of your family members. Even though not all of those needs can be satisfied, there should be common ground.
2. Pre-study information about home-building. You should:
2.1. Check land, border demarcation and soil conditions to prepare for the design of the foundation of the house, and the environment surrounding your land plot.
2.2 Check access to public utilities, such as electricity, tap water and the Internet.
2.3 Check laws and regulations that will have an impact on home design.
2.4 Check information about construction materials that suit your home functions, as well as construction-material suppliers that are convenient for ordering and delivery.
2.5 Gather information about home-builders.
3. Budgeting comprises three main parts:
3.1 The construction budget (60 per cent) comprises unadjusted main expenses that include home structure and works related to the formation of the house’s shape, while the adjustable element covers decorative works of the exterior and the various materials to choose and replace.
3.2 Interior decoration (30 per cent) is a budget that involves
the aesthetic requirements and taste of the owner, which are elements that can be adjusted. This includes built-in furniture, air-
conditioning, audio system, curtains and wallpaper, decorative lighting and paintings.
3.3 Landscape work (10 per cent) concerns exterior decoration that will perfect the house, such as fencing, gate, door remote device, garden decoration and ponds.
4. Consult or hire construction experts such as trusted architects, engineers and construction subcontractors, or prestigious and experienced home-builders.
5. Small subcontractors must be backed up with a recommendation from a trusted party and information about their office and work samples.
6. If you choose to build your own house, you must select a prestigious and experienced home-builder with a proven work record, clear company profile such as a list of shareholders, capital registration, work team, diverse services, quality control system, clear working system and post-construction warranty.
An important tip for reducing the risk of going over budget is that owners must pay attention to every phase, regularly visit the construction site to check on progress and ensure the house is being constructed according to your requirements.
And, if and when there is a need to correct some work, that must be done soon enough before the construction is complete to make it easy to fix and cheaper than doing the work after completion.
Last, should your budget be lower than your actual needs, here are some tips to help:
1. Adjust materials by comparing them for quality and price, and reduce the options for aesthetics and luxury.
2. Resize the whole or part of the functional space.
3. Design the construction phasing of the house in such a way that it could be completed after you move in when the first phase is complete.
4. Use a home-builder with a contract clearly stating the construction period and costs.
The most important thing is to accept the fact that no home is 100 per cent perfect.
Then you will definitely be more likely to be happy with your home-building.
