8 Proven Methods to Save Cost on Your Building Project
Starting a building project comes with lots of expenses. Some generally are planned expenses while a lot of the expenses may be unplanned. However, there are strategic measures you can implement to reduce costs without compromising on quality or design. In this guide, we will walk through proven and practical ways to save money on material building materials, make informed decisions and save you overall cost during your building project.
How to save cost on your building project
1.Buy building materials upfront
This is just like an upfont investment for long-term gains. With how unpredictable the market prices of good are, if you’re really serious about saving money on your building project, purchasing essential building materials upfront, particularly those less prone to theft is the number one decision you should make. Find means to secure roofing materials (depending on the type of house ) and cement by making an initial payment. With this, you can buy at thecurrent market rate which saves you from potential price increase during the project. Additionally, you can consider crafting certain materials on-site, such as molding your own blocks. While this may demand an initial investment of effort and time, it can yield significant savings without compromising quality.
2.Get Multiple Quotes
Before committing to any expenditure on your building project, always try to get multiple quotes from different vendors, artisans or companies. Getting quotes from two or three sources for various aspects of the project can reveal substantial cost difference. From labour costs to building materials, this helps you to make informed decisions and potentially negotiate more favorable terms. While gathering quotes might also take a bit of time (if you’re doing it offline), the time invested in gathering these offers will save you cost in the long run.
3.Dig your Well
Except in areas where water is easily accessible or cheap, digging your own well saves you daily cost on water supply. It ensures a reliable water supply, mitigating ongoing expenses associated with water provision. By saving costs in this foundational aspect, your project is off to a good start.
4. Efficiency Over Extravagance
Avoid unnecessary shootouts, wall tapings, window artwork, corners etc. All these may add a mordern feel to the building but they serve no functional purpose. Use only minimalist cost-efficient designs that balance modern aesthetics with practical functionality.Depending on land size, minimalistic designs, when combined with wider exteriors and abundant greenery, can save money on your building project.Do away with unnecessary embellishments that only increase costs without delivering any functional value.
5. Compromise on materials that are replaceable
Striking a balance between cost and quality requires caution. While certain materials can be compromised without sacrificing quality, ensure that core structural components like columns, beams, cement mix, building level, wood for roof and skilled labour remain uncompromised. Materials that can be replaced with lower quality include: ready made doors with high grade wooden doors, getting a lesser quality similar design of wall and floor tiles , a less popular paint brand etc.
6. Group utilities together
During the design phase, take an active approach by grouping toilets and utilities close to each other and let them share the same walls. This practical approach minimizes the need for excessive pipe installations. This not only saves cost, but also makes future maintenance easier.
7. Cross Ventilation and Bright Spaces
You can also use natural resources to save money on your building project. Allow for cross-ventilated spaces and wider or multiple windows to reduce dependence on energy-consuming cooling systems. You can also make use of bright-coloured paint coatings on exterior surfaces, this helps to reduce heat absorption and also make your rooms look more spacious.
8. On-Site Supervision
Last but not the least and the most important of all, as much as possible, ensure to have the presence of a trusted family member on-site as a cost-saving strategy. While this might not have a direct financial implication, it prevents costly mistakes or oversights. This oversight safeguards against budgetary deviations caused by unforeseen errors.
Bonus Tip: Mould your own blocks
Molding your own building blocks can save you as much as ₦80,000 – ₦90,000 on every 1000 blocks.In some cases the saving cost can even be higher in places that have “gutter sand” already .With on-site manual block production, you save cost without compromising on quality(your blocks will be of better quality). With this, you can redirect your resources to other aspects of your building project.