Whether or not you can build a house for 50k will depend on several factors and where you live or intend to put up the structure. To make this dream a reality, you may have to use cheap building materials and alternative construction methods. You may also need to do a lot of the work yourself and consider constructing a tiny house.
Since the home prices and demands are increasing despite regular incomes, people need to be innovative about their housing needs. With these requirements in mind, there is a small-home revolution.
Advantages Of Building Small Homes
Building a small home has many benefits besides saving on costs, which makes them attractive to most people. These advantages include;
Less Costly To Live In
Small houses are cheap to construct and also live in. Even if you are on a budget, you can afford to build one without the need for a mortgage.
Affordable And More Available
Since you can put many units on a small piece of land, tiny homes are readily available and affordable. Depending on the zoning regulations, one can build more live-able units instead of the ordinary single family structures, increasing the supply for the homes.
Reduced Operating Costs
Small homes are easy to maintain and clean, and you will spend a little amount on their operation. Unlike larger homes with significant compounds, tiny houses do not require many workers to keep them tidy. You can employ fewer workers and still keep your compound clean or even do it yourself.
Easy To Relocate
Most small homes are modular or moveable. You can relocate your house quickly without having to bring it down.
They Are Comfortable And Cheap To Furnish
Small homes are more comfortable and cheaper to furnish since they have less space. So whether you are living in your small house or renting it out, it will cost less to buy furniture since they will be fewer.
How Can You Spend Less When Building A Home?
You can quickly minimize or do away with most materials used on single-family homes when building a small house. The following are some of the ways to reduce the cost of building;
Building a small house will save you some money used on excavation since you won’t have to dig underground for a basement. You will also not require to build a foundation since most tiny homes are moveable.
Less Square Footage
Tiny homes have less square footage that ranges from 150 square feet to about 1000 square feet. While the construction cost per square foot could be higher than for a larger home, the overall cost will be reduced.
Less Construction Costs
Most tiny homes are either completely pre-assembled in a factory or made to be readily assembled at their location. This pre-assembling makes the homes cheaper as there is no more construction cost involved.
Less Land Is Required.
Small homes need less land, whether you are buying or leasing one since they are modular or moveable. It is cheaper to purchase or lease a small piece of land than when you are dealing with large family homes.
Little Or No Cost On Contractors
You can have your small home pre-assembled or fully built before arriving at your destination. Doing this will help you save significantly on contractors and builders since you will do most of the pending work. You will only have to hire electricians and plumbers to fix the remaining parts.
How Else Can You Cut Costs When Building?
There are other methods that you can employ to cut costs when building your home. You can try the following;
Using A Shed, Barn, Or Cabin
If you have an existing barn, shed, or cabin in your home, you can think of converting them into a small house. Having an existing structure is a great way to save on construction costs. You can DIY (do it yourself) and avoid hiring a constructor or builder, as this will minimize labor costs.
Maximize Your Outdoor Space
You can make maximum use of your outdoor space with terraces, greenhouses, and decks. Even if you have a small closed-off space, try to embrace your outdoor with more significant living areas. You may have a large kitchen garden as this will put food on the table and utilize your outer space.
Using Recycled Materials
Used or recycled materials can also help you to cut significantly on building costs. You can talk to friends, neighbors or check flea markets and junkyards for used materials. Such materials will be less expensive as compared to purchasing new ones.
Renting Tools Instead Of Buying
Besides building the home by yourself, you may also opt to rent tools for use instead of buying them. Make sure that you research well on cheaper materials instead of purchasing them in a hurry. For example, instead of using metal roofing, you can use asphalt shingles, and instead of using tiles, you can try vinyl.
You can also make use of appliances that you no longer use, such as dishwashers, dryers, or even washers.
Embrace Energy-Efficient Technology
You may also try to embrace energy-efficient technology for your home, which will help reduce bills and the overall maintenance of your home. This method also makes your house environmentally friendly as you utilize natural resources such as solar energy.
Some Cheap Materials To Help Minimize Building Costs
Regardless of the size, building a house is expensive not only because of the real estate price but also due to building materials cost. You can get creative with the materials you use and reduce the cost significantly. You can use cheap materials for part or the entire building. However, the materials will work depending on where you stay, the building codes of your local area, and the climate. Here are some alternatives;
Using concrete sheets is one of the cheapest ways to achieve a stylish exterior appearance for your home. Concrete panels are also easier to install, stable, and secure. Besides being affordable, these materials have other benefits such as sound suppression and insulation, weatherproof qualities, durability, and fireproof properties.
These properties make concrete panel homes cheap and easy to build as they help one save on utility bills and insurance.
Prefabricated panels are some of the most cost-effective materials for building. You can use the materials for an entire house or part of it. The panels help you to save on time and labor, as well as on-site waste removal expenses. Since everything will be done in advance, the construction usually is quicker, and the sections have a tighter fit.
You can easily incorporate the prefabricated panels into your style and develop an elegant home that you desire.
Recycled Shipping Containers
Used shipping containers provide a cheap alternative to building materials. You do not necessarily have to build a tiny house with these containers, as you can also use them with larger homes. The boxes are environmental-friendly, but it is good to look out for those not used for long. Check for dents, rusts, and other damages resulting from them being on long voyages on the sea.
While the container-homes will still need insulation and shipping costs, you can save significantly on building costs with proper planning and research.
Besides being among the common cheap construction material, reclaimed timber is among the trendiest. You can either choose a rough-hewn or shiplap wood and still get a stylish home. Old timbers are less likely to split or warp since they are dried out and are therefore more durable. It is, however, advisable to be careful when choosing old timber since they have irregular shapes.
Stone houses are excellent but not cheap to build. You can, however, achieve the same stylish look of a stone house by using stone cladding. You can apply cladding, like veneer, to your home’s exterior since it is lighter and less costly.
You may use the material for the entire house or just a portion of it, such as the chimney or the base. Cladding can be modern, rustic or you can use it to mimic different stone finishes. Cladding comes in many thicknesses and can give your home a new and stylish look without building it fresh. It is one of the best materials to use when on a budget.
Corrugated Metal Sheets
Corrugated metal sheets were initially used for industrial purposes only, but they have become popular with industrial design growth. Other than lower costs, the metal sheets have many other benefits. For example, steel is strong and can withstand harsh weather conditions, rot, and fire, and it is also durable.
The material is also easy to maintain because you only need to paint it fresh or zinc-coat to prevent rusting and it can be recycled. However, it may not be perfect for saving on utility costs as it is not a good insulator.
If you are on a budget and are looking forward to building a cheaper home below 50k, you need to research well. Check the building codes in your local area to know which material to use and which ones to avoid. Look for cheap construction materials as this will help reduce your costs significantly.