Building a home is a dream of every Indian family guy. One earns and saves his entire life to come up with a home that suits his lifestyle. He dreams of a house that has everything in it that he desires for his family. It’s a very tough job for a person employed in a service sector with a fixed monthly income to build a house of his own. A lot of time and money is invested in the construction process. He also needs to think about what size of house can he afford to build given his monthly salary and also the size of his family.
Planning comes first
Careful planning about what size house he can afford is very important. He’ll have to start everything from the very foundation. He must keep in mind the cost that the material would require plus the cost of labor. He will also have to pay 7% of the total amount of the land for the registration and 3% as court fees and also he’ll need to pay to the lawyer for his service.
In general, most of the people rely on home loans to build their home. Here you need to be very careful with the budgeting of your house. You’d not like to land up in a position where your work isn’t completed and you have not money left. To be safe from this problems you need to select the size of a land that can fit your budget. Hire contractor who is very experienced and efficient in his work who can not only work effectively but could also help you to cut down the cost employed in buying the material. It will help you save a bit more for the interior of your house after the construction.
Knowledge is the key
First thing that’s gonna cost you is the construction material, then comes the labor. You need to have the knowledge of the materials and how much material would be required in construction each step. By having this knowledge and by following these steps you can save a lot on your construction material.
A lot of time and money is wasted if the desired portion of your house is fallaciously constructed. At times the dimension of the house are not constructed according to plan or walls are not proper and straight. This is gonna cost you a lot, as you’ll have to not only bring down the oddly constructed part of the house but also rebuild it in a proper manner. Your time and money invested will get doubled as you’ll need more material plus the cost of labor employed will increase.
There is no guarantee that the contractor you’ll employ will not make any such mistakes inevitably costing you a lot. So you’ll need to have the complete knowledge of construction process, the material and labor.
Some key pointers where the construction process brings an unnecessary burden on you in respect of both time and money.
1. Time to start the construction
|This depends on your geographical area as the seasons and weather differs from area to area. Generally, the best time to start the construction is before monsoons. It helps in two ways; first is that you get the initial material at a much cheaper rate and secondly the material is not wasted due to heavy rains.|
2. Payment to labor and contractor
You can either opt for daily payment system where you pay the contractor directly the total amount for the day or you can opt for a payment system where you’ll be paying the contractor not on the basis of per day wages but on per sq. ft. basis. Both the payment system has its ups and downs. If you are in a full time job and cannot monitor the construction of your house then payment on the basis of per sq. ft. will be the best way for you, but if you have got enough time to monitor the whole construction of your house then you must go for daily payment method.
3. Inspect the construction process on every step
You must always inspect the construction process step wise, so that everything gets constructed according to the plan. If anything is left or is constructed in a wrongful manner then you can get it corrected it then and there.
4. Get in a legal contract with a contractor
It is very necessary today to get in a contract with a contractor siting everything in detail from the payment mode whether it be daily or on per sq. ft. basis. The contract must also have the complete detail of the construction work that the contractor will be offering you.
The most important thing that the legal contract must have is that if there is any improper construction or the contractor or his labor did any faulty construction then he is liable to re-construct it in a proper manner without charging you anything extra from it.
Following these steps can cut down your cost by a minimum 5-10% and also save your valuable time.