In this session, I would like to discuss the planning and budgeting for the construction of a home with your limited resources ie, money.
Budgeting and planning are two important steps towards construction of any building. In commercial constructions and big buildings, the client or the owner is getting all kind of technical and commercial advices from the expert consultants as paid services. But for own villa (residential house) construction, 90% of the planning and design has to be done by the house owner himself. Otherwise the house would not look like the one, your family members wanted it to be.
The assistance of the consulting engineer shall be limited because he cannot go in deep to your psychological requirements and your financial strengths. You may not succeed in conveying the same to your consultants due to various reasons. So you will never get a final design as you have dreamed!
To avoid this, it is better you should also learn something in planning and budgeting.
In planning, your initial job is to collect available data in the house construction industry. From friends and relatives these data can be collected. Consultant shall give his opinion about costing. By reading periodicals and books more ideas shall be gathered and this will help you to mould your dream home and it’s requirements and cost. The information collected from various sources shall be recorded for future references. Finally you can come to a conclusion regarding the amount you can safely mobilize and to limit your dreams within that amount.
Value engineering and use of alternate low cost materials will reduce the cost and improve the area we can complete within the planned amount. The maximum usage of locally available materials shall help you to bring down the cost. More over as per baubiology and green building specifications, this will help in saving our nature also.
The amount you can mobilize has to be calculated with details. It has to be written down for better clarity. The available amount of Bank loan has to be worked out separately after consulting with one or two Banks. Better and for safer side, consider only 75% of the bank loans or other personal loans for the budgeting purposes.
The next step is some homework and this has to be done along with your family members also. A detailed discussion has to be initiated where the requirements or facilities will be in put against the budget provisions. For this you should have a minimum knowledge of the cost of construction per Square foot or Square metre in your area. The rate of construction cost per square feet or Square Meter area of the type of building you are looking for has to be collected for your location as per our earlier discussions. Normally the rate shall vary from Rs.1600 to Rs.2200 per sqft. Rs.1500/- is applicable for cost effective building construction and it can go upto Rs.2200/- per sqft for a posh style building with marble or vitrified tiles of good quality.Consider all possible options to enhance the quality of construction and proceed further.
A normal rate of Rs.1900/sqft can be considered for your planning purposes. If you want to construct a building of 1500 sqft. Total Cost shall be 1900x 1500=28,50,000/-
The cost of construction is Rs. 2100/sqft for a building of your concept and the funds you can mobilize is Rs. 20,00,000/-. How many sq foot house shall build in that amount. Let’s calculate.
Area =amount/cost of construction
Ie; 20,00,000/2100= 952sqft
Kindly remember the following factors which are directly related to the total cost of construction (square feet rate).ie. the following items add cost to the square foot rate.
a) The number of toilets and the location of toilets.
b) The room sizes greater than 12 ft (360 cm). New beams need to be inserted will increase the cost.
c) Staircase rooms will add the cost of construction, if you are not constructing at least two bedrooms in the first floor.
d) Sloping roofs increase cost and time.
e) Access width of the plot. If trucks loaded with materials do not reach your plot, the cost increase for the lead of the materials from the nearest place.
f) The excess number of big windows, which we will never open for ventilation. As per norms 10% of opening is required for sufficient light and ventilation.
g) For first floor construction, the rate shall increase by 10 %.
More to follow in next chapter.
1 Meter = 3.28 Foot
1 Square Metre = 10.76 Square Foot
1 Cubic Metre = 35.75 cubic foot
1 Cent= 40.47 Square Metre = 435 Square Foot
1 Are = 2.47 cents = 100 Square Metre