Building a house of one’s own is often the most cherished dream of the common man. However, many are forced to put it on the backburner as they aren’t sure whether they would be able to complete the construction in time. Besides, lack of funds or unavailability of loans too are major problems. Here are some tips to help you plan a comfortable house without burning a hole in your pocket.
If you have been planning to build a modest house that would cost under Rs 30 lakh, but has at least Rs 15 lakh at hand, then it is better to prepare a plan and build just the structure (you could always expand this). With that amount, the foundation, floor and plastered walls could be built. The rest of the house could be built slowly, in two or three years, as and when you have money.
It must be noted that only the cost of the construction materials, required for building the structure, have soared, over the years. For instance, the cost of these construction materials has shown a steady increase of 20% every year. So, the value of the structure that was constructed five years ago, has increased over 100%.
The cost of materials like rocks, laterite stones, bricks, mettle, M – sand, rods and cement have skyrocketed. If a structure was built for Rs 15 lakh five years ago, then it would cost at least Rs 25 lakhs to build something like that now.
Apart from these, the price of materials like tiles, furniture, cupboards, painting, LED light fittings and curtain fittings that are required for furnishing haven’t gone up significantly. Even if the prices of these materials increase, some of these items are avoidable or easily replaceable.
So, if you construct the structure now, for Rs 15 lakh, then you could make a profit of at least Rs 1 or 2 lakhs than building it next year. You could use that money for furnishing or designing the interiors.
Do not listen to those who tell that it is a bad omen to leave the structure for two or three years before completing the rest of the work. If you are worried about the design of the structure going out of fashion after a few years, then lots of interesting designs and models that may look chic and updated are available.
If the structure is sturdy and has enough doors and windows to offer you security, then all you need is a room, a bathroom and a kitchen to start living in it. It would at least save you the money that you have been paying as rent. You could even save that money to add a feature or build a new room to the house.
