The new year is fast approaching, and winter is the perfect time to begin building your dream home. Plus, low interest rates make this an even more opportune time to get started. Building a new home is well within reach for many first time buyers and builders.
Aside from looking at our available floor plans and giving us a call to get started, we wanted to provide a list of ways first time home builders can cut costs to stay within budget:
1. Set a budget – and stick to it!
Establishing a budget at the start of your home building project is important for several reasons. For one, it is easy to get carried away with options and customizations once you start making selections. However, you want to make sure your home is something you can afford in the long run, so setting parameters from the start is a smart way to do that. Second, you always want to leave wiggle room for unexpected costs or options you may decide you can’t live without. Finally, once your house is built, you will be excited to furnish and decorate. Those tasks are a lot more fun when you have money set aside for it!
2. Invest where it matters most.
When considering a splurge in any area, it is wise to look at what will give you a return on your investment. Large closets, kitchen upgrades, and wood floors throughout the home will add to its value. Some upgrades that may seem great to you might not matter to a potential buyer down the road.
3. Explore alternative floor options.
Although hardwood floors throughout a home are beautiful, they may not be the most cost-efficient option for all budgets. There are plenty of alternatives out there, from vinyl to laminate, that look the same but without the price tag.
4. Look at several roofing options.
Another expensive part of building a home is the roof. Depending on the shingles you choose, this can become very costly. For some, a tile or metal roof is a priority and they would rather pay more for it. However, to save money, consider asphalt shingles.
5. Consider long-term costs
There are many attractive features and options you can add to your home that can be expensive to keep up with. For example, if you want to add a pool, you should research what it costs each year to heat it and keep it clean. Hot tubs, decks, and patios can also be costly in the long-run. You’ll want to be sure you can afford the upkeep down the road.
When you are building your home, the great part is that it is YOUR home. Things you may not be able to do or add now can always be revisited later on. When you choose us as your builder, we will make sure you are getting your dream home that is within your price range.