90 out of 100 every residential land owners ask us this one question.
“What will be the cost for constructing my house?”
If you turn it around and ask a space ship Engineer… “how much mileage does this space ship provides?”
Funny ha… Most of the owners are stuck in this question and tend to find their answer in a landing figure, without realising the ifs and buts of the project.
If’s and but’s includes
- Site legal conditions/ approvals
- Level of land with par to Road
- Soil Conditions
- Access road & raw material storage space
- Boundary Demarcation
- Number of floors to be constructed
- Long term Purpose of the Building
- Number of rooms and its sizes
- Land to road facing direction
- Various hidden whims and wishes
So, these questions must be answered first.
Let’s Learn about the Contractor’s Quote Trap…
It’s the rate quote, which psychologically grips the Owners. Often works contractors quote a lower per sqft price to grab a project.
This is a trap indeed, as most of the land owners fell to understand the hidden objectives and other legal obligations of a long term contract agreement.
Consequentially, either the contractor fly away in the mid of the project or bills the escalation and extra costs quoting the legal obligations of the contract. Either way the owners have to suffer.
To remove your doubts, lets take you to the other side of the picture. Wear the shoes of your contractor and understand his situation.
5 Worst Situations that keeps coming every time
Situation 1: Labour prices escalates every year due to migrations and increase in Government facilities.
Situation 2: Material prices keeps on fluctuating a lot due to local taxes, strikes, rising fuel prices etc.
Situation 3: Disruption in works due to Rains, local labour engagements, festivals which delay the project timing. With time the project rate fluctuates.
Situation 4: Lots of unknown hidden extra works crops up due to lack of planning.
Situation 5: Disasters/ natural catastrophes are quite often now a days.
So, what’s the Solution?
- Keep a tentative budget in mind
- Plan according to your Budget
- Execute in phases like Consultancy>Core House Construction>Finishing>Interiors
- Don’t put all the apples in one basket
- Take guidance of an Expert.
- Remain Involved in the work.