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This Old House - Do-it-Yourself

Five Top Tips for Building a Home on a Budget

Written by Posted On Thursday, 04 May 2017 01:04
home budget home budget

An increasing number of people are considering building their own home, particularly as getting onto the housing ladder has become more and more difficult over the years. Unfortunately, there are still many common misconceptions about self-building. Many people would love to build their own home, but mistakenly believe that they need to be millionaires to do so.

With clever designs, the right professionals and a few savvy tricks, you can drive the cost of building a house down. We’ve rounded up five top tips to help you build your perfect home on a budget. 

Tip #1. Consider New Developments

If you’re hoping to build your own home but are flexible when it comes to factors such as design and features, a new development could present the perfect opportunity for you. Home builders in Melbourne will usually offer extra features and upgrade packages on top of their basic home design, allowing freedom to customise your home.

If you’re a construction newbie and aren’t sure where to start when it comes to building your own home, securing a spot on a new development can be a cheaper option than buying a ready-built property and less daunting than doing it yourself.

Tip #2. Write a List

As you build your home, it can be easy to give into temptation and fall into the trap of putting ‘wants’ before ‘needs’. Building a property of your own is very exciting, but it can quickly turn to disaster if you haven’t clearly set out everything that is necessary.

Before you begin, spend some time thinking about the features that you cannot do without, compared to those which could be forgone. Once you have the basics covered, you can then decide whether your remaining budget allows for extras.

Tip #3. Keep the Design Simple

Putting together a home with a complex design will almost certainly cost you more. Although one of the main perks of building a property is the flexibility to design your dream home from scratch, a complicated plan comes at a high price.

Don’t forget that labour costs will likely contribute to the highest percentage of your total spending. Keeping the design simple and easy to put together means less labour is needed; your home will be ready sooner and for less.

Tip #4. DIY Whenever You Can

DIY is an effective option for saving money on a plethora of construction and finishing jobs when building a home. Always be careful, though - certain jobs may pose risks and hazards that you are unaware of.

When it comes to tasks such as painting, wallpapering, fitting shelves and laying flooring, you can save a lot of money by taking the DIY route. Find great tutorials on YouTube.

Tip #5. Hire Reputable Professionals

Finally, before you give the go-ahead for the construction of your new home, you should do your research before taking architects, planners, and construction companies on board. There’s nothing worse than having to delay the building of your home or tear the work down if it’s been done badly.

It really pays off to scout around for online reviews and opinions before you hire a building professional. Asking for recommendations from trusted friends and family members will also help you find the best. 

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