The cost of construction is rising every day. There’s the increased cost of real estate, rising labor costs, and most importantly, increasing material costs. In fact, the price of cement has tripled in the last 16 years while structural steel prices have doubled between 2005 and 2017.

Despite that, the real estate sector continues to grow very rapidly still. Developed real estate stock in urban centers will reach 8.2billion sq feet by 2025. Even today, it’s a better long-term investment to build your own house than it is to rent or buy one. Here are a few things you should keep in mind if you decide to build your own home.

Do your research

The key to building your dream home within a budget is to know exactly what you want. Have a clear vision about what you want to build and do as much research about the process as possible. There’s a cost difference between a circular and a rectangular and a square-shaped room; even when all have the same area. There are lots of things you need to find out about the process of building your own house. From materials and labor costs to project management tools, and building techniques, you need to be aware of various aspects. Having a solid plan in place will help you stay on top of things once the construction gets started.

Find the right contractor and designer

The contractor will take care of most of the major decisions when it comes to building the house. So you need to choose your contractor wisely. Go to your networks first as credibility and good references really matter here. You need to look for a contractor who can get the best job done within your budget. Also, find someone you can communicate with as there will be a lot of back and forth during the process.

 

A good designer or architect can be quite expensive. However, they can help you work with space and design in a way that can reduce your construction costs. So it may be well worth the investment. Of course, if you have building experience, you can hire a designer and do the construction yourself or vice-versa. If you don’t have the experience, it’s best to hire experts, as doing shoddy job will be costly in the long run.

Be wise about using space

Keeping your square footage to a minimum will help you reduce the costs of construction. Use all available space as wisely as you can. For instance, try having rooms with multiple functions. You can also build lofts as they help you utilize ceiling space while giving you some extra area.

Choosing the right materials

One of the most critical costs will be the cost of the materials you use to build the house. You will need to combine quality with cost-effectiveness while choosing the materials. Choosing materials that are durable will make sure you save money in the long run. You will also have to take into account the climate of the local area.

These days, you also have newer materials that incorporate the latest construction technologies. These materials not only tend to be durable and cost-effective, but they are also eco-friendly and sustainable. Here are some of them.

·         AAC panels

AAC (Autoclaved Aerated Concrete) is an environment-friendly and cost-effective substitute for red clay bricks in wall construction. It is a lightweight material which has a high load-bearing capacity and great thermal and insulation properties. AAC panels cement, lime and silica as the raw materials. AAC was introduced in Sweden and is now popular all over Europe. It is one of the most durable and thereby cost-effective materials that you can use to build your home.

·         Prefabricated panels

Prefabrication refers to the practice of assembling different components of a structure at a manufacturing site. The complete assemblies are then transported to the construction site. Prefabricated panels allow you to build a custom home in a limited budget. The panels, although cheaper, also offer more flexibility in terms of design and materials.

·         Bamboo

Bamboo is one of the most renewable construction materials and also one of the strongest. In addition to being aesthetically appealing, is also an eco-friendly option. However, make sure you hire a builder that knows how to work with bamboo as traditional joinery techniques don’t work. You also need to ensure that the climate is not too dry as this can cause the bamboo to shrink or dry.

·         Reclaimed timber

Reclaimed timber has many advantages. In addition to being one of the cheapest building materials, it is also environmentally friendly and visually appealing. Old timber is more dried out and durable, and there’s less chance of it splitting or warping. Of course, you may have to invest more time up-front to source the reclaimed timber.

There are few joys like that of building your own home. You just need to be meticulous about the planning, research, and choice of materials. In fact, you now have a range of modern choices when it comes to construction material. That is because of companies like Magicrete that are bringing avant-garde construction technology to India. Magicrete’s products like AAC blocks, Dry mix mortar products and precast products can make your dream home a reality and that too within your budget.