Let’s face it: building a new home can be expensive. In order to save money, many people scrimp on material quality with the false impression that this won’t impact the construction of their house. Wrong! Often times, scrimping during the building phase can lead to greater repair costs down the road.
For example: An inexperienced concrete company offering below-industry rates may seem attractive, but if the foundation of the house should crack, any savings you gained up front will be lost in repairs – and you could find yourself spending exponentially more to correct the situation (not to mention the extra time – YOUR time – involved for managing the repairs). Here are a few tips on cutting your building costs without compromising the quality home you deserve.
Simplify: Roof lines and interior ceiling heights are expensive in both time and materials. They require more materials than straight lines and can take longer to build, meaning you’re paying your
builder and his subcontractors additional hours to complete the work. Select a house plan
from House-plan.org that has a simple roof line and even ceilings. If you do want high ceilings, then consider a tray ceiling – a tray ceiling has edges that slant toward the middle from the walls, providing the feel of a higher ceiling without the added cost of making your walls
higher
Stockpile: If you have the time and the space to stockpile, start shopping now. Look for good deals, closeouts, sales, and recycled products, and buy and save them for your building project. Not only will you save money, but you may just have everything you need when the construction begins. You’ve successfully reduced or eliminated the waiting time for items to be delivered, instead of dealing with budget-busting back orders during installation.
Not everyone has the time or the space to do this, but do it when and where you can. You may not be able to stockpile your kitchen cabinets, but what about that great mantel you saw at the antique store? Or the bathroom light fixtures on sale at the Mega Mart? Keep your eyes open for a good deal and pounce on it, because it may not be there later.
Share: Pick a house plan that uses space efficiently, and maximizes utilities. For example, back-to-back or stacked bathrooms will enable you to save on costs from shared plumbing.
Straighten Up: Straight staircases are far more inexpensive than custom shaped staircases, or staircases that double back on themselves.
Compromise: Make a list of things that are important to you. Then identify those items you can live or do without. Which items are you willing to compromise? Be realistic. When you’re building on a budget, it’s a fact of life that some things will either have to be eliminated, or a less expensive alternative considered.
For example: Are hardwood floors a must on your list but too much of a budget-breaker? At a fraction of the cost, consider instead a high-quality, low-maintenance wood laminate floor that combines the rich look of a hardwood floor but provides the easy care and durability of a laminate countertop.
And finally, spend wisely. Now that you know where NOT to put your money, what should you bust your budget on? The foundation. Money-saving appliances. Quality structural engineering. When you put your money in the right place, your investment will go much further. For instance, energy-efficient appliances, though pricier to purchase up-front, will save you money in the long run.
You’ll get the most out of your budget once you know how and where to allocate the dollars for your home construction.
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