5 Tips to Building Your Dream Home on a Budget

Written by  //  August 13, 2018  //  Home Construction Planning  //  Comments Off on 5 Tips to Building Your Dream Home on a Budget

budget home building

Are you considering building your dream home? This can be a satisfying experience, but you have to keep within your budget. Here are 5 ways to build your dream home while staying within your financial target.

Choose the Lot Wisely and Know about Restrictions

A brief look online reveals that there are plenty of building lots available. If you want to live in the mountains or the desert, in a small town or a city, there’s a lot waiting for you. However, no matter how nice the lot looks at first glance, remember that there are a few less obvious considerations.

The price may be attractive, but it’s no deal if your family doesn’t love it. Building a custom home is a huge investment of time and money, so keep to a lot you’ll want to live on for decades. Second, check on utilities. Unless you have big money or want to live off the grid, you’ll need to know that water, sewer, and power run to the property line.

Be sure to find out the cost of connecting them to your new house. Also, be cautious of zoning restrictions and be especially cautious of land covenants. Not knowing what these are can cost you big money down the line. If you don’t like the covenants or restrictions, look elsewhere.

Take Advantage of Tax Credits

As recommended by the Centsible Home, research the tax credits available to new home builders. Eco-friendly options provide major savings. In addition, they can also save you big money on utility bills. For example, you can get tax credits for installing solar panels and enjoy the benefits of sun-powered electricity for years to come. Energy efficient appliances and windows are also huge money savers.

Consider a Smaller, Open Floor Plan

Every square foot added to the home increases the cost. If you are paying $100 per square foot, a 1,000 square-foot home will cost you $100,000, while a 1,500 square foot home will cost $150,000. To make a smaller floor plan practical, opt for open spaces, which can be used for multiple purposes. One strategy is an island kitchen that opens onto the living room. This one space can become the kitchen, eating, and recreation or work area. An open floor plan also creates an airy feeling that makes the home feel bigger.

Hire a Builder That Knows Local Requirements

David James custom home builder, located in Blacksburg, Virginia has spent 20 years constructing custom homes in the area. This experience makes it easy for them to accurately quote the costs because they are aware of the local building codes and requirements. An experienced builder can help you find ways to make your dream homework within your budget.

Building a new home is exciting, but it takes quite a bit of work compared to buying an existing home. For those who enjoy projects and want to create their own unique space, building a home can be one of life’s most satisfying experiences.

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