By Ssalongo Ssali
These are the 7 Cheapest Methods To Build Your Home Very Fast With Monthly Salary of Shs2m [about $540].
Savings and Loans
If you’re a earning a salary, use of a salary loan can speed up the cost of construction. Save as much as possible and commence the construction work with your own savings.
Acquire a salary loan at the roofing stage to help you roof the house quickly and move in faster. However it’s always advisable to obtain a loan where the monthly repayment instalments are equal to your monthly savings.
Then you can put the money you would otherwise be spending on rent toward servicing the loan.
All in all, a loan helps the client get all the money in bulk to push the project to completion in the shortest time possible.
Use of Salvaged Materials
Using salvaged materials can significantly reduce the cost of construction. Materials like bars, mesh, bricks, windows, doors, vents, roofing timber etc can be salvaged from sites that are being demolished, then reused on your own home. A lot of the above materials are in very good condition or need only a little repair.
Employ the right architect/engineer
This should be preferably the person or a company you know very well. If possible, employ a qualified close friend or relative who wants to see you growing. This will help you to avoid risks of over quoting for the building materials as well as offering relatively cheap labour.
Participate in the Construction activities
Taking part in the construction i.e to do some of the non-technical work can really help you to save. You can perform work like digging the foundation, carrying bricks, mixing mortar and painting etc, without putting the project at risk.
Use Local Materials Wherever Possible
Use of materials that are local to your building site can further contribute to saving you money in transport costs. Materials like sand, bricks, timber and gravel should be sourced from the nearest providers to the site.
Try to minimise the use of unique materials that have to be sourced long distances from the site, which will cause you to incur more in transportation and duties.
Move-In as Soon as Possible
Occupy the house as soon as it has a roof and is weather proof to save costs of rent.
Any money that you save on rent at this stage can be put towards fixing the fine installations like power, water floors, among others. Living at the site also helps you monitor the project more closely.
Diversification for Faster Results
Keep some birds/poultry, Goats, Pigs etc at home to create extra income to support you service your loan and to feed your family.
Ssalongo Ssali is a Financial Therapist.
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