We all want to own the home of our dreams. But the problem, of course, is that most of us can’t afford it. Even if we could, it might not be on the market. So what’s the answer to this issue? Well, you could build your home. But then there’s the problem of cost! A lot of people would love to build their home, but the cost is a scary thought.
Building your home can cost twice as much as buying one on the market. But this depends on the location and materials – you could also save a lot of money compared to buying a home outright. There are some great ways to save money and still be able to live in your dream property by the end of the project.
Get good land at a good price
To buy cheap land, you’ll have to search the market. It may be that the cheapest land is not in your dream location. But that won’t stop the house being a dream come true. Assuming you don’t build on a floodplain or land that’s unstable, you’ll still have a great property. The land is usually sold cheaply because the owner wants to shift it fast. Or because there is a detail that makes it a difficult sale. That could be a nearby busy highway or a close wood filled with critters. But if you’re happy to see deer perusing your garden that means you’ll get a great deal.
Sometimes, the dreamiest land for sale isn’t always the cheapest, but it may be worth the investment, so remains worth looking into. Alternately, you may want to consider buying land that’s already in development. This is another way you can get the land you want cheaply. It won’t cost a fortune, and you might even get a few contacts with contractors.
Alternate construction options
Alternate construction is simply using materials to build a house that isn’t made of brick and mortar. For instance, steel framed houses or timber framed houses are both alternate construction. The issue with this type of home is that insurance and lending can both be a problem. That means if you ever want to sell a home you’ll be looking at a cash buy. Depending on how much the home is worth these can be quite rare. That’s why you shouldn’t necessarily look at this property as an investment. That said, alternate construction is a lot cheaper. You could shave about 25% off the construction costs.
It doesn’t stop there either. You can use cheaper materials inside the house as well. For instance, PVC is a considerably cheaper material for pipes than CPVC. You can schedule 80 PVC fittings for your new home online, and you’ll have all the parts you need. While you won’t save a fortune, these little savings will add up. As well as this, consider using aesthetic materials that look the part rather than the real deal.
Last, but certainly not least: you need to be realistic. A dream home may not mean having an Olympic pool or an underground garage! But it could still be a great place to live that you built with your own two hands. That’s the real homeowner dream.