There are two categories of costs as far as construction is concerned. There is the initial and recurrent cost, and then there is the nominal and actual cost. Generally, there are quite a number of ways to reduce construction costs. But first, you will have to understand what these costs are.
Initial and recurrent
The initial cost is the total cost you use in the actual construction until the house is fully up. On the other hand, recurrent costs are the costs of maintenance. These costs usually come up multiple times and are often not fully planned for.
Nominal and actual costs
The actual cost is the exact total cost that has been used, taking into account every single expense. However, the nominal cost is what appears to have been used. Nominal costs do not really take into account the small expenses and most of the time people go with it, which should not be the case.
Ways to reduce construction costs
1. Avoid complicated designs
Of course being a new homeowner could be exciting with all the classy ideas and designs in mind. But at times you will be forced to forget the complicated designs, especially if you are working on a budget. Complicated designs need a lot of material as well as labor and this hugely impacts the costs. Always keep it simple and elegant.
2. Search for best deals in the market
While there are the standard prices for all materials, sometimes different distributors and vendors have a slight variation in price which you can only notice with good research. Different distributors also have different mind-blowing deals. One mistake homeowners do is ignoring this slight difference, which often piles up to something huge.
Another tip you could use here is buying in bulk. Naturally, purchasing a lot of things from one place will always earn you discounts and at times save on the transporting cost.
3. Purchase the materials yourself
In normal circumstances, getting your contractor to do material purchase for you is advisable. However, when cutting costs is one of your priorities, doing the purchase yourself will save you a significant amount of money. Besides, contractors will hardly bargain on your behalf, and if they do, the difference will most of the time go to their pocket.
4. Choose the right roofing style
As unbelievable as this may sound, the type of roofing you install on your house will in one way or the other affect the cost. Going overboard with the roof improves the style but at the same time increases the cost. Therefore, in case you want to reduce the cost, you should consider designs like a hipped roof as well as the gabble. Such designs are simple, require minimal labor and do not consume a lot of materials.
5. Considered storey buildings
Contrary to what most people would conclude, storey buildings are not that expensive to construct. This is why; storey buildings use the same living space or plot to accommodate several rooms, which would have taken up twice as much space. The roofing and foundation materials are also reduced.