There are always residential construction projects in process, but they don’t always work with the client or team’s budget. Costs can get out of control due to delays, labor shortages and other factors. This guide explains how to reduce construction costs when building a home so contractors, homeowners and teams can make the best decisions for their financial limits.
1. Source Construction Materials Carefully
Investigating the source of each material is the first step industry experts can take to reduce construction costs. Essential supplies like cement, steel bars, brick and sand may be more costly from specific suppliers. Construction management teams and procurement professionals may be able to find rebates from dealers by establishing new partnerships compared to standard retail procurement offers.
This step could not come at a more critical moment for clients and construction teams. Industry experts found that the cost of lumber alone rose by 32% in 2021 because demand continued to increase while labor and material shortages hurt the supply. Partnership rebates and online discounts will make residential construction easier while those challenges last.
2. Get Multiple Quotes
Clients can talk with various local construction teams about plan details, structural elements and projected schedules for their future homes. Comparing each quote will reveal which company can fit their budget before committing to anything.
One company may offer a shorter timeline, but another could match that price and offer customizable composite materials that make any construction project look like it uses authentic wood or masonry. Homeowners must think about what’s most important to them alongside their budget to settle on the best quote for their construction project.
3. Rent Equipment Instead of Buying
Construction companies have to charge clients a specific rate based on many factors, including the price of their equipment. Although that won’t change for any machinery already in use, management teams could consider renting their equipment instead of buying new machines to save themselves and clients more money.
It’s already a popular option that is only becoming more common every day. Research shows that 50% of people involved with residential construction rent equipment like heavy machinery. Anyone seeking to reduce construction costs can look into equipment rentals to limit their spending for unique sites or ongoing builds.
4. Consider Prefabricated Materials
Homeowners or construction crews looking to cut down on costs can consider prefabricated materials if their build hasn’t begun yet. Instead of putting everything together on-site with more costly supplies, prefabricated materials reduce the work and expenses involved in building homes.
Prefabrication companies make materials like concrete sections and steel systems off-site. Construction teams order what they need and ship them according to the project’s timeline. It saves everyone time and money, which is especially important for anyone looking to reduce construction costs.
5. Minimize the Project’s Scope
Revisiting a project’s scope is another way to reduce construction costs when building a home. Making plans more efficient could reduce the project’s stages, making it faster and more affordable to construct. Experts and clients could take this step by eliminating empty square footage in rooms that don’t need it, like closets or bathrooms.
Every eliminated square foot reduces the needed materials for foundational work, framing, finishing and everything else that follows. The project’s total cost will substantially decrease and everyone will save more money.
6. Opt for Stock Designs
Clients may desire a custom home design without realizing how much it could expand their budget. Brand new designs require more time for planning and engineering, adding fees to paying the teams who put the floorplans and site maps together.
Buying and utilizing materials may also feel like a gamble. If the construction crew runs into any issues and needs to reorder supplies or go back to the drawing board, there’s no way to ensure that it won’t happen again because no one has built the plans before.
Stock plans are trustworthy because teams have built them so many times before. Cost estimates and potential construction timelines will be much less likely to change. Adding one or two new features to the plans could be an excellent compromise for clients who want a home that matches their vision and budget.
7. Change Roofing Materials
While investigating ways to reduce construction costs, industry experts and clients can discuss changing roofing materials or designs. A single ridgeline is much more cost-effective, whereas multiple ridgelines and steeper pitches will increase a project’s cost. Switching between types of shingles can also make a significant improvement in a client’s budget. It depends on what they want for their home and the materials needed to meet that vision.
8. Choose Drywall for the Ceiling
Opt for drywall instead of finishing a home’s ceiling with pine paneling. It’s more economical than pine or cedar paneling. The wood may look great in photos or seem like a solid material before team members apply the final coat of paint. However, construction costs will only increase if drywall isn’t the primary material for a home’s ceiling.
9. Leave Room for Future Upgrades
Construction crews install things like appliances and other household features before the homeowners can move in, but that isn’t always the best option for clients on a budget. Anyone can reduce construction costs by leaving the more modern or high-tech appliances for future upgrades.
Installing basic models or features like tubs will keep the project’s cost minimal. Homeowners can always upgrade to a jet tub or smart laundry unit when they’ve had a few weeks or months to save money after moving in.
This is also an option for homeowners who dream about expensive hardwood flooring or the latest window models. Trained professionals can always swap standard materials for what the homeowners want after construction completes within the original budget.
10. Plan Every Detail Early
Last-minute order changes after projects have begun will quickly add up. Industry experts and clients should plan every minute detail as early as possible. There won’t be any financial surprises because all of the materials will already be on-site and everyone will know what’s next in the project’s schedule.
Begin to Reduce Construction Costs
Anyone can learn how to reduce construction costs when building a home. Whether they’re working in the industry or considering getting quotes to start constructing their dream house, these tips will keep everyone informed on ways to minimize spending without compromising the design vision.
Emily Newton is the Editor-in-Chief of Revolutionized, an online magazine discussing the latest technologies changing our world.