Pursuing a construction project can be quite costly. There’s just a lot of things to consider financially—labour cost and materials primarily. While you want to have a successful construction project, you’ll do what it takes to save up on the overall cost. One effective way to do so is to reduce the cost of building materials. It’s possible to save money on building materials; you just need to execute the right financial tactics. That said, here are five tips on how you can save up money when buying construction materials.
1. Purchase materials in bulk
There’s a huge advantage in purchasing materials in bulk or wholesale. Manufacturers can give you a much lower price as compared to buying in small quantities or purchasing from single retailers.
First, single retailers require you to buy a minimum quantity for a discount, but that’s not the case with wholesalers. Second, it’s more practical to buy most materials in bulk than split them, which can incur other miscellaneous expenses. That said, sort the materials into separate sections and estimate the cost for each. From there, assess which ones are available in wholesale and which ones aren’t.
2. Invest in easy-to-install materials
Investing in easy-to-install materials will help you save money, time, and labour. You won’t have to shell out a considerable amount of money for the extensive labour services performed. For instance, consider various electrical products that are easy to install, such as electrical outlets, light switches, electrical boxes, electrical conduits, and motor controls. However, make sure you buy simple yet quality materials, so as not to have issues in the future.
3. Opt for prefabricated materials
Know that prefabrication is the assembly of different parts of the building at the manufacturing unit. The parts are then transported to the actual construction site for the entire assembly. It’s best to choose these custom-made parts of a building for various reasons. For one, modular construction is a lot more affordable than traditional construction. Two, it requires less time and reduces the labour cost. Overall, you can save money on construction financing, raw materials, and labour.
4. Negotiate with a network of suppliers
It’s best to deal with a network of trusted suppliers for a handful of reasons. For one, you won’t be shortchanged in terms of the quality of materials being supplied. Two, these suppliers can provide you discounts as their much-valued clients. All you have to do is to negotiate for the material costs and even ask for free delivery. In most cases, they will comply with the request, but you have to ask.
5. Set out good payment terms
Establishing good credit with suppliers can make all the difference when purchasing materials. It’s best to apply for credit terms with your material suppliers. Some suppliers provide forms of trade credit where you are bound to pay within 15, 30, or 60 days after the materials are delivered. Such payment terms can be a good idea, depending on what works for you. Who knows? The same suppliers may even offer discounts that will help you save money.
Final words
It won’t hurt your construction project if you know how to reduce the cost of buying your building materials. As long as you don’t compromise the quality of the materials being purchased, then you’re on the right track.
That said, consider the five practical tips outlined above—buy materials in bulk, go for easy installation, opt for prefabricated materials, negotiate with suppliers, and set out payment terms. All these will ensure cost reduction and a successful construction project.
If you’re looking for a building materials supplier in the UK, get in touch with us to see how we can help.