- Reducing Square Footage. One way to dramatically reduce costs is to just reduce the square footage of the entire home.
- Choosing a Stock Design.
- Reducing Lineal Feet of Logs.
- Opt for a Simple Roof System.
- Use Drywall on Interior.
- More Modest Kitchen.
- Don’t Take a Bath on Your Bath.
- Avoid Change Orders.
How can I save money on my home renovation project?
3: Think Small – In construction, more square footage equals more money, so think about your project’s size and ask yourself how much space you really need. Of course, you want to balance this out by considering resale value, but if you can cut back a few square feet here and there, you can save quite a bit.
Depending on where you live and what the construction market is like, home construction can cost between $80 and $200 per square foot ! Cutting back square footage doesn’t have to mean living with tiny rooms in your new space. When we were talking to the architect about our home addition, we’d originally wanted the guest bedroom we were adding to be 12 x12 feet (3.6 x 3.6 meters).
By cutting back to 10 x 10 feet (3 x 3 meters), we shaved more than $4,000 off the price of our addition. The guest room is a bit smaller, but with the money we saved we were able to add a back deck to our home, which was totally out of our budget before we played with the room sizes a bit.
How can technology help the construction industry reduce costs?
2. Implement Better Document Management – The construction industry is one with many documentation needs. As mentioned above, no doubt will digitizing your documents and blueprints reduce administrative costs. Furthermore, choosing an effective and collaborative document management system can help you improve efficiency.
One major way that implementing a good system decreases your overall expenditures is by adding an extra level of transparency to all your efforts. With a cohesive document management system, you can create robust reports to show exactly where your most significant expenses are, to help you determine where to invest and where to cut costs.
Additionally, a robust document management system can improve your administrative efficiency through:
Administrative Support. A robust document management system means that your administrative support staff can more easily access, file, and work with any open project they need to in your office. This can save countless hours in finding files and information. It also allows staff to better monitor time-sensitive information, such as when permits need to be pulled. Communication. Communication is essential in the construction industry to execute design plans and manage changes. A comprehensive system will allow you to keep all information up to date and centrally located so that any stakeholder in your project can access the information they need when they need it.
How much does it cost to do construction work yourself?
9: Do it Yourself, Unless You Can’t! – Whether you’re a die-hard do-it-yourselfer or just handy with a paint brush, you can probably pick up a few of the tasks on the construction to do list. Contractors make an average of $18 to $25 per hour, so when you do some of the work yourself, you’re saving all of those labor costs,
- The trick is to be realistic about what you can do.
- Only you know what your skills are.
- If you can do something yourself, it can save you a bundle, but if you don’t know what you’re doing, there’s a chance you’ll end up paying more to have a contractor fix your mistakes,
- Certain things, like installing a toilet properly, are more difficult than they may seem.
Plumbing mistakes in particular can be very expensive to fix, since leaks can cause water damage that you’ll have to pay for on top the cost to have things plumbed properly. It’s also important to make sure you know what you’re getting yourself into. Some parts of a construction project have more to them than meets the eye.
How can you improve the quality of your construction projects?
How to Reduce Construction Costs in the Field – Improving productivity, workflows, communication, and more from the field where construction is being executed can save teams from rework and significant cost overruns. Even the smallest of changes can either make or break you from a financial perspective on a project.