It can be difficult to build a home on a budget; especially when you consider the fluctuating costs of building materials. In a field survey of builders and real estate experts conducted by the Bank of Ghana in 2007, 86 percent of the respondents said that the cost of raw building materials was the primary reason that lower income Ghanaians were unable to build a new home. Since then, prices have continued to rise. In February of 2012, for instance, the prices of cement and other building supplies increased dramatically. Modernghana.com reported that the price of a bag of cement increased from 15 Ghanaian Cedi ($7.73 US Dollars) to 17 Ghanaian Cedi ($8.76 US Dollars) in just one week. This is an increase of 13 percent! So how can you make the most out of building materials and still control costs? Here are a few ideas.
Make Substitutions If Necessary
There are a number of factors that influence the price of building materials. They include:
- Material demand
- Local availability of products
- Global economic conditions
- Design and efficiency of the house
Obviously, you don’t want to compromise the quality of the house in an effort to save money. If the condition of your site calls requires a stronger type of cement, for example, this is not where you want to make a substitution. If there is a short supply and high demand for bricks, however, you may opt to use different material such as cement blocks that is more plentiful and therefore less expensive.
The architects at a reputable firm such as Ghana Homes can also review your plans to determine if there are better ways to utilize the space and reduce the need for unnecessary materials.
Get A Bill Of Quantity
A bill of quantity is essentially a list of all of the raw materials, hardware and other components needed to build a home based on a specific house plan. This can help you forecast the costs of materials and budget accordingly.
Ghana Homes provides this service for a nominal fee.
Make A Shipping Container
If you are a foreign investor building a
home in Ghana, another way that you may be able to save money on raw building materials is to purchase the supplies abroad and ship them to your trusted contractor. The bill of quantity will ensure that you have all of the necessary materials in the shipping container.
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