Building a custom home is an exciting adventure for you and your family. You get to design every element as you prepare to live in your dream home. At the same time, you have to watch your budget during the process. Here are some tips to save money while not compromising your vision.
Top Tips to Save Money While Building Your Dream Home
1. Create a Sensible Budget
If you want to reduce the cost of your home, it’s essential to create a budget and be clear on what everything costs. You may modify the budget as needed, but make sure you keep close track of all expenses at every stage. Start by figuring out exactly how much house you need in terms of lot size, rooms, square footage, and amenities.
2. Get as Much as You Can for Your Old Home
If you’re selling an old home, the more you get for it, the more you’ll have to invest in your new home. Research the market in your area and don’t take less than your home is worth. Don’t be too anxious to accept the first offer. Do what you can to increase the curb appeal, including features like the front yard, porch, front door, and landscaping to make a great first impression on potential buyers.
3. Save on Real Estate Agent Commissions
If you live in an area where homes are in demand, consider working without a real estate agent. This saves you from having to pay a commission. If you do use a real estate agent, shop around and negotiate for the best rate. Even a percentage or two in commission can make a big difference.
4. Choose the Right Contractor
When you choose the best contractor for your needs, you can more easily set a realistic budget. It’s important to find someone with whom you can easily communicate and who listens to your needs. A good contractor will work with you and help you make the right decisions to help you stay within your budget.
5. Consider an Open Floor Plan
With a traditional floor plan, the home is divided into clearly separated rooms and spaces. An open floor plan, by contrast, has large, open spaces without divisions. You’ll still have rooms with doors such as bedrooms and bathrooms but you may have, for example, a combined dining room, living room, and kitchen. With this layout, you can have less actual square footage while still creating a feeling of spaciousness.
6. Add Your Own Personal Touches
Doing minor work yourself is another efficient way to save money. You can enjoy adding personal touches to your home. You may want to make changes or upgrades to any of the following:
- Bathroom
- Porch or Patio
- Lighting
- Closets
- Garage
- Flooring
- Cabinets
Depending on your experience and how much time you have, consider saving money by doing these or other upgrades yourself.
7. Splurge in the Right Places
Even as you look for ways to keep your spending down, you don’t want to compromise on your vision for your home. There are some features where it’s worth it to splurge a little. What’s essential depends on your own needs and preferences. For example, you may want to upgrade your home with crown molding, elaborate landscaping, a swimming pool, an upgraded master bathroom or any other touches that are important to you.
These are some simple ways to save money when building a home. If you’re seeking a custom builder in Florida and Georgia who will help you design the perfect home, contact Covenant Homes today.
