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But you may decide to start constructing your home now, with whatever limited funds you have at the moment. This could work, especially if you’re certain that your income sources will be just enough to finance the project over time. It’s indeed possible to build your home on a tight budget (admittedly, what counts as ‘tight’ will differ across persons, time, and space). You can achieve this if you take the rights steps and manage things smartly. Here, we’ll walk you through some of the things you can do to make this happen.
Get Land At A Low Price
The first step to building your home is acquiring the land on which you’ll build it. If you don’t already have it, you could buy one from an individual/family, or a real estate company. You will have to consider the location in which you intend to build. Land prices differ across districts and states. Look for land that you can afford in places where they are available. They’re usually found on the outskirts of cities, or in areas that are just starting to see some development. Real estate companies will sometimes offer land at discounted prices for a limited period. You can take advantage of such offers and get yourself something on the cheap.Discuss Your Budget With An Architect
Hire a competent architect to design your house’s layout. Make sure to let them know that you’re working with a limited budget. They could come up with something that won’t cost you an arm and a leg. Some people choose to not work with an architect. While this may seem like a reasonable cost-cutting measure, it could be counterproductive over the longer term. Architects will help you avoid design errors that may cost you significantly down the road.Pick A Supplier You Can Afford
Don’t just settle for the first building materials supplier you find. Look around for several of these suppliers, and compare their prices. Go for one that will provide you with what you need, at a decent price. However, you’ll want to balance your desire for lower costs with a need to maintain quality. Ensure that the materials you’re provided with are good enough for use.Sign up to the Connect Nigeria daily newsletter
Reuse Building Materials To Save Cost
Don’t let the materials you’ve bought go to waste. If there’s anything left over from a stage of construction, make sure it’s used when work on the building resumes. Only purchase more material if you’ve exhausted what’s available. Here’s another tip: you can buy used doors from carpenters and wielders, to save you even more money. They’re cheaper than what’s sold on the market.Hire Building Equipment
You’ll need a lot of equipment to construct a house. But if you’re looking to cut costs, you may want to hire them instead of buying new ones. Talk to your supervisor about this; they could know a good source you can get the equipment for a decent fee.Closely Monitor The Construction Process
It’s not enough to have a supervisor who oversees the construction process. Be at the site as frequently as you can to monitor the progress of work. Check the use of available materials by labourers, and verify their account by examining portions of the building already constructed. NB: Work with a supervisor that you can trust. They will be in charge of things at the site for the duration of the building process, so you’ll want them honest as they come.Don’t Hire Too Many Labourers
More labourers mean more costs. One way to make the most of labour is to have them take on multiple roles. For example, a bricklayer who can do woodwork should be employed for both purposes. Let the supervisor know that you want people who can take on multiple tasks, so they can consider this when sub-hiring labour for the project.Pace Your Construction As Your Budget Allows
Building on a tight budget will sometimes mean that funds aren’t always available to carry on with the process. If this happens, you can halt construction until there’s money to continue with it. By pacing things as your budget allows, you could save yourself a good deal of money; you don’t have to get into debt that you’ll struggle to repay, just to finish up your home within a shorter period.Final Words
Having a house of your own is a dream you may think of as being far into the future. But you could make it happen closer to the present with some smart planning and execution, even with limited funds. Featured Image Source: Villa Afrika RealtyGot a suggestion? Contact us: editor@connectnigeria.com
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