In Nigeria, inflation hits a 17-year high of 20.5 per cent in August, driven by soaring prices of food, diesel and a weakend currency.
There is a general increase in prices and fall in the purchasing value of money.
It’s of utmost importance to understand how best to position yourself for your next building projects during these seasons of inflation.
Below is outlined budget friendly ways to build your desired house with the availaible resources you have now.
- PLAN & BUDGET: Never despise the place of planning before building. Time needs to be taken for you to address what your housing needs are for. Never wait until the end to be surprised by the cost. Create a budget and price out everything that you expect to spend on your new house. The place of planning and budgeting can never be over-emphasized.
- BUY BUILDING MATERIALS AT DISCOUNT: Every construction job has costs for material and labor.?Build strong relationships with a building material supplier which will enable you to buy materials at wholesale at a discounted prices. Buying building materials at a discounted price will help you in making more money, waste fewer man-hours, maintain consistency across jobs?and also finish jobs on or ahead of schedule.
- HIRE PROFESSIONAL HOME BUILDERS: Professional workers are well-equipped and have complete know-how when it comes to construction work. When working with a professional home builder’s, you can always expect a fair estimate of the project’s cost. Professional home builders understand how much a project should cost and will be accurate in their estimates. You experience comfort working with professionals in the industry. These professionals understands that working on a project might be dangerous at any time which will enable them to have a basic liability insurance.
- CHOOSE BUILDING MATERIALS WISELY: The most important thing to look for in building materials is the efficiency of the materials you’re choosing to build. Building a house from foundation is no joke. Choosing the right materials and sourcing them is a crucial part of the process. Never compromise the place of durability and quality of materials you are choosing for the foundation of your home. Refuse to use cheap materials that are not durable enough cause this will affect the integrity and structure of your house. Take sufficient time to study the properties of materials you’re planning to use. This might seem like a huge task, but it’s critical.
Building your own home has an undeniable allure. Homes come in all varieties to fit all needs. Due to the broad choice of existing housing stock, plus the high cost of building a new-construction home, most would-be homeowners?buy existing houses. And this is not a bad choice at all. Most houses are durable enough to last for decades, can readily be remodeled, and they have the potential for increasing in value.
The above information when applied will guide you in building your house with the resources you have and still gaining maximum results.
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