Classic Construction: How to Create Your Family’s Dream Home on a Budget

Written by  //  March 19, 2018  //  Spec Planning  //  Comments Off on Classic Construction: How to Create Your Family’s Dream Home on a Budget

home construction dream home

You may think that you need to have a huge budget to build your dream house, but this is not necessarily true. You definitely need a healthy budget that will cover all of the bases and that can account for contingencies, but a well-planned construction project could potentially cost less than what you would pay to buy an existing home. These tips can help you to keep construction costs as low as possible on your dream home.

Select Your Lot Carefully

The lot that you select will play a major role in your construction cost. For example, a heavily-treed lot will cost more to clear. A lot that does not have utilities run to it will require this extra expense in your budget. A sloped lot will require a larger and more expensive foundation. Understand all of the costs associated with the selection of different pieces of land so that you can keep construction costs low from the start of your project.

Be Your Own General Contractor

Many people hire a general contractor, and in some cases, your lender may even require it. If you have the option to do so, consider being your own general contractor. There may be risks associated with doing so, but you can also save a substantial amount of money if you are able to put in the time and effort to manage the project and to coordinate efforts from all of the subcontractors.

Choose Affordable Materials

The materials that you select for your project will directly affect cost, and you have many material options to consider for all aspects of the project. For example, roofing, flooring, windows, counters and more are all available with huge price variations. You understandably want your materials to look great and to be durable, energy efficient and otherwise wonderful selections. However, you can potentially save a fortune on construction costs when you make a thoughtful selection of materials.

Hire the Right Contractors

From your roofer to your garage door installation company such as Plano Overhead Garage Door and more, you will need to hire many contractors and subcontractors to complete the work on your home. When possible, request multiple quotes from reputable contractors. By comparing quotes, you can save a bundle of cash and still ensure that quality work is done on your home.

You could empty your bank account and take on a huge amount of debt building your dream home, but you may enjoy living in the home when you do not associate it with financial stress. Use these tips to save money through all stages of your home building efforts.

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