How to Reduce the Cost of Constructing the House

These days, I am busy to separate my office from my living room in my house. Because this was the my first project when I am constructing my living room which will be different from my office in my same house. Before this, my living room and my office were same. All past constructions were done by my parents. So, this is first time when I bought and hired everything by myself. Like any other human person, I also did many mistakes. As good online teacher, it is my first duty to tell everything for reducing the cost of constructing the house. If you are also constructing the house, please read my tips also.

1. Make The Good Budget 

Before constructing the house, you need to calculate its estimated cost. In this cost, you include everything. It will be better, bring the expert of construction from labour chowk. Tell the space in which you have to make the house. Write the number of estimated bricks, number of cement bags, number of tiles, quantity of bajri, quantity of iron rods for lenter and quantity of sand. More correct estimation of quantity of house raw material, more your budget will become good. After multiplying the market value of each quantity, you can find the raw material cost. In this, you have to add labor cost and hire charges of shuttering materials. All estimated cost will be helpful to make good budget. If you want to make house cheap. First make its budget.

2. Risk Covering Reserve 

If you are constructing the house, you have also to take risk. This risk may happen due to stolen the shuttering material. Suppose, you or your laborer stole one piece of a plate of 4X2 foot, its cost is Rs. 2000. Who will pay this cost. It is your risk dear. So, make the risk covering reserve first. Otherwise, you will take loan to cover this cost. With this, your cost of constructing the house will increase.

3. Use Proper Cost Accounting 

If you want to know the cost accounting rules, you should record every cost when its happens in reality. Compare it with your budget. If it is more than your budget, it means there is adverse variance. This variance may happen due to increasing of material cost, due to increasing of labour cost, due to increasing of shuttering cost or other unexpected cost. Suppose, still you have made one part, you can use better cheap market for reducing this adverse variance for making other part of your house. For example, if your mistri is not good, he will take more time. Use him on daily basis, if he is not doing his duty honestly, leave him and appoint new mistri.

4. Never Compromise Quality with Cost

Better quality will reduce the long term cost of constructing the house. For example, if there is need of 4 dimensional net of iron rods in lenter, you should not ignore it. With this, your cost will increase but it will give better support to house. Suppose, if your house  falls down in future who will be responsible. So, never compromise your quality with cost.


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Accounting Education: How to Reduce the Cost of Constructing the House
How to Reduce the Cost of Constructing the House
Accounting Education
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