Regardless of the amount of money that you have, the biggest risk for any self-build project is that the money could run out just before the project is completed. Spending on the wrong items is a common mistake that many homeowners often make when it comes to undertaking self-build projects. Doing enough research and proper planning are, therefore, important before you start with the project.
Creating a realistic budget for a self-build project can be a daunting process. Most sensible budgets will include some room for contingency, however, if you don’t have proper planning, you could end up splashing on one area, and less money will be left to spend elsewhere. Understanding where your money should go can help make your project to become even more cost-effective. So, here are some self-build costs to help you save some money.
1: Heating
The heating system is extremely important as it helps to make our home feel safe and comfortable. It works by making sure that the temperature is at an acceptable level during winter. Therefore, we should not skimp on this aspect. We have to make sure that the heating system is fully maintained. Aside from checking the heating system, you should also ensure that you have decent windows, insulation, and underfloor heating.
If your heating system is working properly, this will can make your home more efficient. Remember that the greater your heating system’s efficiency, the less it will cost for it to be running. When your heating system is fully maintained, you will notice that your electricity bills are not as high. Investing in a good heating system might require a higher cost of investment, but your investment will pay off in the long run.
2: Use a Surveyor
If you’re working on a major self-build project, hiring a quantity surveyor can be a big help. The surveyor can help with the budgeting and cost planning of the entire project. Some people might think that they are being clever by not paying for a surveyor, especially if the bank has already signed off, but a quantity surveyor can help you save money in many ways.
First, bringing in a specialist quantity surveyor agency from the beginning of the project can help with the budgeting. Proper budgeting can save you a lot of money, whether you are doing a self-build project or hiring somebody else. If you have a budget, you would be able to anticipate the money you could spend throughout the project, which helps to avoid costly emergency loans while the project is ongoing.
Quantity surveyors can also help to create an analysis of how much each material will cost, and how much it’s going to cost throughout its lifetime. This can help you make the best decision on whether or not certain items are truly worth investing in. Another thing that the quantity surveyor can help with is the procurement of the supplies and materials. Since they are familiar with the industry, they have lots of connections and they know where you can purchase items at a cheaper price, which helps you to save money even further.
3: Choose Rooms Carefully
If you do not have the budget to remodel everything at once, then you need to decide on which room you should prioritize. When it comes to choosing the room to remodel first, you should choose those that can recoup all the costs associated with the remodelling project and create actual equity. Thus, experts believe that you should choose to remodel your kitchen or bathroom. Aside from the fact that you spend most of your time here, these rooms add more resale value to the property compared to the other rooms in the house, such as the bedrooms and living room.
The biggest benefit of remodelling your bathroom or kitchen is that it increases the value of your property. According to experts, kitchen renovations are the most popular home improvements in the UK, followed by bathroom renovations. Depending on the size of your home, you can expect to pay 10 – 25% of your home’s overall value for a high-quality kitchen renovation project. Indeed, a kitchen renovation is a great investment if you want to get the most value out of your home remodelling investment.
4: Getting Rid of Waste
Remember that when it comes to renovating your home, it is your responsibility to properly dispose of the demolition and construction wastes. Wastes are unavoidable in any construction project. In fact, 61% of the total waste generated in the UK is said to come from construction, demolition, and excavation. However, getting rid of these wastes can be costly. Thankfully, there are many cost-efficient ways to get rid of your construction wastes.
Consider donating those items that can still be used, such as old appliances and furniture items. Look for drop-off centres in your area that will take in old items that are still in good condition. For the rest of the materials that can no longer be recycled, such as ripped out kitchen walls, you need to rent a skip to collect these wastes. To save money, carefully plan when you will need to use the skip. Remember, skip rental companies would charge you on a per-day basis. You can save hundreds of pounds if you cut out an extra day of hiring the skip by planning your waste disposal well.
When hiring a skip rental company, get in touch with as many companies as you can, and ask for a quotation. The search can be time-consuming, but it can save you money in the long run. Do not rush into hiring the first company. For example, if you live in Nottingham city centre, just look around for a Nottingham based skip rental company that will offer the most competitive price, instead of a larger company where the skip might be travelling from a further distance. But aside from the price, you also need to consider their reputation. Search online for more information about the company to find out if they can be relied on. Once you found the right company to hire, book as soon as you can. Skip rental companies tend to charge extra for last-minute rentals, so avoid this unnecessary expense by booking early.