The construction sector is frequently subject to delays and cost overruns, and real estate bears the brunt of it. Sripad Nandiraj, Founder & CEO, Hocomoco, has some interesting pointers on minimising cost of home building.
The Indian construction industry is one of the largest in the world and is the country’s second-largest employment generator. However, the sector is frequently subject to delays and cost overruns, the brunt of which falls on homeowners. Working with skilled and professional construction teams can address this challenge; as such teams are likely to employ the tools and techniques needed to plan costs accurately.
Why is the cost of home construction on the rise?
When it comes to planning home construction, chalking out accurate time and cost estimates is critical, which several construction teams fail to do. Using suitable forecasting techniques and a collaborative approach to blueprint-making can help with this. Another problem that often arises is poor workmanship, a result of working with inadequately skilled workers and contractors who are not as stringent about monitoring onsite operations as they should be. Poor communication among stakeholders is another factor that leads to costly mistakes and delays., which can be rectified with the use of a centralized digital platform.
Why is it crucial to work with skilled professionals?
By choosing a professional team, homeowners can benefit from high quality workmanship by skilled professionals who can draw up accurate blueprints, ensure quality compliance, keep alterations and change orders to a minimum, and provide regular updates on project progress. Any mistakes can be spotted and rectified early on rather than being covered up by unprofessional teams (as often happens when poor bricklaying is covered up with cement). This saves costs for the homeowners and also speeds up the time to project completion. Professional home builders are also much likelier to be acquainted with the latest construction techniques and technologies and how to apply them to each project.
Building techniques that reduce costs
- Minimalistic design – Minimalism is catching on as a home and decor trend and is, in fact, highly congenial to reduced costs and better project efficiency. Minimalist housing projects use empty space and straight lines for their spatial arrangement. This not only creates the impression of bigger interiors but also saves on project costs, as plain rectangular walls require fewer steel rods for support.
- Low-cost materials – Several building materials cost less than conventional options without compromising on the quality of the project. For example, WPC or engineered wood door frames are generally cheaper than wooden door frames, while old or reclaimed building materials are also useful. This helps curtail material wastage and also keeps project costs low.
- Eco-friendly materials – Employing sustainable building materials can reduce the environmental impact of the project and reduce costs.
Examples include lightweight bricks, clay bricks, recycled wood, robosand, natural stones, and indoor plants.
- Waste management techniques
– Through proper materials planning, the amount of waste at construction sites can be reduced and whatever waste is generated can be disposed of in an eco-friendly fashion. Some of the waste can even be put to use in the project – for instance, crushed debris can be used for backfilling.
- Project planning software – The use of planning tools enables all necessary spaces (including room size, walls, doors, windows, etc) to be measured in advance so that the need to knock down and start over is eliminated.
- Cost management tools – The construction team should work with cost management software that clearly lays out the budget for each stage of the project. This way, all materials purchases and construction shifts can be planned without the risk of unexpected costs or wastage later.
How new-age construction companies are contributing in this regard?
Among the new-age solutions that are bringing a professional approach to home construction is Hocomoco. Their cutting-edge project management platform allows for timelines and budgets to be accurately forecasted through advanced analytics, and the platform’s ease of use enables transparent communication with all stakeholders at all times. Moreover, the platform is run by experienced and skilled professionals who manage the construction process from start to finish in a smart, communicative, and go-getter fashion.