10 Tips to Lower the Cost of Building a Home

Building a home is not always cheaper than buying one, but sometimes either option can seem out of your reach.  If you are thinking of building a home, here are some tips you may be able to use to lower the cost. Even if you use just one or two it will mean some kind of savings.

  • Some blocks are quite big, more than you really need for a home. If you have a good friend or relative who is also wanting to build a home, consider going halves with them in a bigger block, then dividing it in half. But remember, it has to be someone you won’t mind having for a neighbour. And you will have to be sure that council will allow the division.
  • Some blocks are challenging to build on due to the shape or size, or the fact that they are on steep ground. These blocks can often be priced more cheaply than blocks that are easy to build on. However, be careful of steep slopes because what you save on the block may need to be spent on the construction of the home.

  • If you would love a waterfront home, choose a canal or lakefront rather than an ocean view as these are likely to be cheaper – and you won’t have to worry about wild weather washing away your land.
  • Use building materials that are low maintenance; steel roofing and vinyl cladding don’t have to be painted and are very durable so are unlikely to require repairs. This saves on costs over the lifetime of the home.
  • Haunt demolition sites where you can often get building materials for the cost of carting them away. These can often be recycled into your own home, creating something unique.
  • Don’t splurge on things that are not essential to the cost of things that are. Structural components of the home should aways be top quality.
  • Never change oars in mid-stream. If you change something in the plans halfway through the build process it will cost you heaps.
  • Some people build an extra large carport or garage so that it can be used for storage. In fact, a garden shed is much cheaper and will store just as much as that extra bay in the garage. Other storage areas might be an attic, basement or under the stairwell.
  • Choose a site that doesn’t need a lot of work to prepare it. Levelling, hauling dirt in or out for fill, blasting rock or removing trees will all cost more.
  • Don’t build bigger and better than the rest of the area. The value of your home will be assessed taking into account the value of the other homes in the neighbourhood.