Did you know that in 2020, 2.1 million people purchased a home in the United States? If you are thinking of not only buying a new home but building a home of your dreams, we are here to give you our top tips on how to save money. We created the short guide below to share how to save on the cost of building a home.
Read on to learn more.
1. Choose a Smaller Floor Plan
One way to save money is to choose a floor plan that is not too much home. The square footage will matter when it comes to your house. This is one of the reasons that building a tiny home or modular homes has become so popular.
Not only do you save on square footage, you can then spend more money on better quality materials because the space it not as large. Think about the money you save when you do the math. For example, if it will cost you $100 per square foot, this means that even just an extra 250 square feet of extra space will cost you can extra $25,000.
It is best to select a floor plan that is functional to your needs, vs trying to build the largest house on the block where you don’t even use all the rooms.
2. Research Your Builder
Before going with the first home builder you meet, take the time to do your homework. A builder can either make or break your budget and experience when building your home. You want to find someone that you can trust to bring your vision to life without adding unexpected costs.
The builder you choose should be well aware of your budget and your priorities before they take on your project.
3. Save Where You Can
When you start designing your dream home, make a list of your priorities and must haves. Think about things such as appliances, lighting, window treatments, flooring, etc.
You will be able to save money on materials if you opt for high quality faux vs the real material, and it will look just as good. Another way to save money is to choose window treatments and light fixtures that are not as pricey and in the future you can upgrade them as you choose to whatever your future budget allows.
The aesthetic you opt for can also make a difference. Going for an industrial look means you can get away with leaving some rooms “unfinished” and the end result will look like it was done on purpose.
Time to Save Money When Building a Home
Although building a home is going to be a rewarding feeling once it’s said and done, it is imperative to plan as much as you can to avoid overpaying. Make sure you take all of our tips above to help you during your journey of building the house of your dreams for you and your family.
If our article helped you out – there’s more where this came from. Make sure you keep browsing our home section to not miss out on our latest homeowner tips.