Tips for Controlling Costs When Building Your House

    Establish a Detailed Budget that Takes into Account Possible Fluctuations

    Must Read

    Abelardo Canelo
    I am not only a fluent Spanish-English reader/speaker but also a bi-cultural person who has a broad solid background. I also have a passionate interest in different expressions of music, especially many American styles and their combinations (Folk-Country, Jazz, Pop, Rhythm and Blues, Rock, Soul, and so on), dance, stage and screen, and some other forms of artistic expression.

    Designing and building a custom-made house is the dream of many people and families. Living step by step the process, from planning to execution, allows you to create spaces that adapt to the specific needs of each owner. It also gives the opportunity to customize every detail, both in the distribution of the space and in the final finishes.

    House in construction

    However, sometimes, not having well defined what is desired, coupled with ignorance of what to buy, how much and why can make this dream a complicated and expensive period.

    Mauricio Martínez, in charge of Management and Design at the construction company Martínez y Aragón, recommends always having professional advice that provides comprehensive support. It is also essential to execute a very detailed planning of the entire process. It should consider aspects such as construction times, quality and functionality of the materials, as well as labor costs. Likewise, a detailed global budget must be worked on in which increases in prices and contingencies are contemplated.

    According to the Price Index elaborated by the Central Bank of Costa Rica (BCCR), during this year the materials of the construction sector have had a stability in the behavior of prices. However, if an inter-annual comparison is made between the third quarter of 2017 and 2018, an increase of close to 4% is reflected.

    “Many times the expenses happen when the scope of the project is not clear. When there is not an adequate programming and a certain time of execution of work, the money can be lost very easy “. In addition, it is important to document all the purchases made, in order to keep a strict control of the expense.

    For its part, Vanessa Santana, Technical Manager of Furoiani Obras y Proyectos in Costa Rica, explains that no matter how small the rise in the prices of materials, it is necessary to carry out a constant analysis of the investment that is being made.

    The expert explains that it does not mean abruptly changing the initial plan, but making necessary adjustments to optimize the purchase of raw materials in order to absorb these economic changes.

    Prevent prices from rising

    Against this background, Santana shares 5 recommendations to avoid that the prices in the development of works are raised, or at least, remain within the initial cost plan:

    1. Feasibility of the work. Before starting any construction, a business plan must be prepared that clearly projects your investment in terms of permits, materials to be used, salaries, insurance and policies, field collaborators and supervisors, duration of works, among other aspects. Once defined, you must include what the profitability of the project will be.
    2. Innovation and optimization. In the construction market, there are different materials, for example, wood, gypsum, slab, fiber cement, shotcrete and structural, among others; Therefore, it is important to define how your project will work and thus prepare the list of necessary supplies. Also, the use of resources with the measure is a basic rule in construction, because if there is a shortage that will generate another expense in the purchase of new material, while if there is a surplus of insurance part of the initial investment will be lost.
    3. Price Fluctuation. Steel, iron, and cement are 3 of the most important raw materials in the sector and, fluctuation of the price in these resources can modify the established budget. Make an exhaustive control of costs, in order that the project can absorb those variations and do not have to transfer them to its final user.
    4. Procedure. If you are about to build a work start in advance the process of permits required for your project and make sure you have all the documents that are requested, since the capital that is invested in high and, given the delay in delivery of each stage Constructive, this can be compromised and generate more expenses. In Costa Rica, the process is one of the processes to be improved by the institutions that are involved in the construction sector.
    5. Quality in materials. Not necessarily when some material has a low price means that it is bad; however, do not sacrifice the quality of your project to maintain a low cost. The useful life of the structure of your work will depend on having built with the best resources and, in the case of opting for low quality, in the long term the economic consequences will be greater.

    By taking these tips into account, building your home will be a more controlled process and, therefore, a less stressful experience for you.

    costa rica real estate
    - Advertisement -

    Subscribe to our newsletter

    Get all the latest news, events, offers and special announcements.

    Latest News

    Pool Exercises for Chronic Back Pain

    Chronic back pain is a common health problem that affects many people around the world because it is associated...

    More Articles Like This

    Language »