So, You’re Thinking of Building Your Dream Custom Home
So you are interested in building your custom home, but are worried about its cost. Starting a construction project can be very intimidating, especially if it’s for your forever home. No matter how you look at it, undergoing this project will be costly, but how costly will it actually be? Here are four ways you can save big on your housing project.
#1: Land & Location
One of the greatest influences on the price of your custom home comes from the plot of land it is built on. Generally the closer you are to a major city the hire the prices associated. Building your home in an area that is easily accessible to the city, but with lower housing developments, will help you save on building your dream home.
#2 Eliminate Change Orders
Last minute changes or fixes to the construction are known as “Change Orders”, and these are best avoided. Making a last minute change to a design means more work for your contractors, which may result in an extra charge. Sometimes mistakes are made or you may change your mind about certain features, so it is important to include a review period with your homebuilder to give ample time for revisions.
Before starting your project, its important to know the difference between your “must haves” and wants. Make a list of all your desired features and rank them from most to least. From there you can adjust your budget accordingly. Its important to remember, that costs don’t always add up the way you would like, so leave a bit of wiggle room so you don’t spend over your set amount.
#4 Consider using Alternate Materials
One of the biggest costs associated with building your custom home are the materials that go into it. Some materials are much cheaper than others, but provide a very similar look. For example, instead of using traditional wood for construction or flooring, you can use jackfruit tree, wild jack and similar woods to achieve the same look, but at up to 50% the cost. If function is your priority over colour, then try using fly ash bricks instead of the standard red brick. Fly Ash Bricks are less costly than alternatives but have the same strength for construction purposes. This can reduce construction costs by a considerable amount.
Now these are just a few of the many ways you can reduce the construction costs of your new home. Consider the land and location, eliminating change orders, setting a budget, and using alternate materials. By following these four steps, you can build your dream home, for a fraction of the price. If you would like to learn more ways on how to save, give us a call today and book a consultation!
Until next time,