How to save on costs when building a house?
Despite the currently attractive conditions, the challenge for many developers is to realize their dream on a small budget. Cheap interest rates are a good incentive for construction. The budget for the maintenance and care of the house must be guaranteed aside from this. For many people, the dream of a home can quickly become a nightmare without a trick or two up the sleeve. Who cleverly calculates and knows typical cost traps can save money and reduce construction costs.
Compare prices for building plots The first step of saving on costs is when buying you are looking for the right property and land to purchase. First, do not take the first-best. Compare offers and weigh the pros and cons. Above all, be aware of what you need and what you do not. If a large garden is not important to you and you do not need a big house, then you do not need a large building area. That pays off in the cost. If the plot is in good condition, you do not need to spend a lot of money on straightening or tree felling. Another point is the location of the property. Building land at the city limits and in suburbs is often cheaper. Be sure to remember of your travel times. These could be long-term money and time wasters.
Find cheaper house financing
Those who take more time looking for a suitable bank can be rewarded with high savings. The financing conditions of the banks differ immensely. Small interest rate differentials can save up to several thousand euros over the entire financing period. But a low interest rate does not bring long-term benefits if the monthly repayment installment is too small. Instead, it will take even longer to reduce debt. Builders should consider whether they would like to benefit from the currently favorable interest rates, or prefer to build later more expensive but with more equity.
Save costs on the type of the house
When choosing the right house type, it is the same as in the choice of the property. Future homeowners should be aware of what they need and how much capital they need. Who does not value houses in modern construction, saves money. Simple house shapes, such as strictly cuboid or square houses, are the cheapest on material. With these forms, the property can be optimally used.
Estimate space requirements correctly
Sounds trivial, but is disregarded, according to experts in more than 90 percent of residential buildings. Often, bigger spaces are built when the demand is there. An individual needs assessment of his/her needs and an intelligent floor plan make it possible to reduce construction costs. In that case you should be honest with yourself. Do I need 2500 square feet or is half of it enough? Basically extra dimensions cost extra.
Save on equipment costs
What is the quality of living for you? Many people ask themselves the question of interchangeability here. What is expected to be replaced in a few years and what not? Opt instead for the quality flooring and save on the wallpaper. Thus, you can pursue your changing taste and save costs. When it comes to equipment, you can save at the beginning of the construction anyway and invest later if necessary. New equipment can serve as a reward for work done. Start by relying on older pieces of furniture and parts that you bring from your apartment and reward yourself later.
Save money by own contribution
The so-called "muscle mortgage" is a real austerity measure for many builders. The advantage is that it is considered as equity in financing. In simple areas such as wallpapering or carpet laying, self-performance offers. Things get more difficult in jobs that require a lot of experience. Rough errors can cause time delays and high costs. Builders should be realistic and leave difficult tasks to the expert.
Promotion in house building
Many federal states have regional support programs, for example for young families and developers with lower incomes. In addition, many municipalities promote the settlement in certain building areas. The same is true for barrier-free and energy-efficient construction. It is important to get information from property developers, local home builders and energy consultants. Subsidies must be requested before the start of construction and in part be requested through the house bank.
Costs for garden and outdoor area When it comes to outdoor facilities, it depends on the preferences of the builders. If you value a large garden and a beautiful terrace, you should focus on it.. If you do not want to care for a spacious garden, you have more money for other things. The builders should be aware of how much time they can spend on a garden. Water systems in the garden can cost a lot of money and have to be maintained in every season. If you do not have time for this expensive hobby, you should be aware of it and do without it. The money can be put into other equipment in the house instead.
Conclusion - house construction save costs If you want to save on the costs while building a house, you should be honest with yourself and let your builder know exactly what you need and what you want. It does not help if you have a huge plot of land with a pool, if you have neither time nor money to entertain it. A smaller house saves costs and may be sufficient. All in all, Estimate your needs and take your time with this advice. Then nothing stands on the way of your right perfect home.