Money, Market and Possibilities

We are living in a complex moment in time: we feel good about our financial position, but when are we confronted with the reality of properties market, construction costs and required approvals, we may realize that we can’t afford the house we were dreaming of, and that our options are more limited than expected.

Property prices, as well as material prices and interest rates, are all on the high end right now. Since the pandemic, costs have just gone up across the market, and our savings cannot buy or build what was possible only 4-5 years ago.

Some people decide to postpone all non-essential work. 

Some give up on their construction projects altogether. 

But others approach the issue more pragmatically and move ahead despite the less-than-ideal conditions. 

How do you do it? Well, through sustainable design.

Sustainability it’s not just about the environment, but it’s also about the quality of living conditions and the economic feasibility of every project.

So, let’s find a way to make this project feasible in a few steps.

1_Budget: Be clear with the entire team about the budget for your project. And always keep a buffer: conditions may change during the process, and inconveniences happen all the time.

2_Necessity vs Desire: What do you need, and what do you just wish to have? Some of the items on your list might not be so necessary right now, and they may have to wait a little longer. 

3_Spatial Efficiency: A smaller building is most likely cheaper than a bigger one. If we can’t have it all now, carefully plan for a simpler future extension.

4_Simplify: A simple shape or volume is cheaper to build than an articulated figure. Same for the interiors: simple shapes may help to save some money that can be reinvested in quality construction materials.

5_Save (where you can): slightly cheaper floors, bathrooms and kitchens may leave you some margin or can be reinvested in quality windows and doors.

6_Invest to save: Building an energy-efficient house can dramatically reduce your ongoing expenses, including utility bills and maintenance.

7_Invest in time: Spend some time, starting during the design process, to find the right builder for the job. Construction costs may vary a lot. Finding the right team to work with from the beginning of the process will reduce the risk of surprises down the line and will help you stay within the budget.

A note: property prices, construction costs, and quality may vary a lot, even within the same area or within the same price range. 

So, take time to do some personal research, speak with multiple professionals and ask all the questions you have. There is no more useful tool than knowledge!

The second-best tool you need is a trusted and caring team of professionals to assist you in this complex journey: find someone who loves the work he/she does. 

Someone who treats you as a person and not just like a client. 

Find the professional who takes the time to explain to you how things work and let you decide for yourself which is the best design solution for your specific needs.

This is sustainable design: knowledge, awareness, care.