Ways to reduce costs when building a new home

October 10, 2020

Building a new home can be a daunting task, with costs adding up quickly, however there are many ways to reduce costs without cutting corners.

If the project doesn’t go according to plan, costs can accumulate and lead to a larger overall sticker price than you had originally bargained for. Before you bring your budget to the brink, there are a few simple ways to save money without compromising on quality.

Keep it simple

It’s all too easy to become tempted by a state-of-the-art kitchen complete with breakfast nook and bar, or to overdo the height of your ceilings. Yet the smaller you can make your home, the less expensive it will be to construct. Trim the fat and use a basic box shape to create a smart, elegant, and functional home without excess. Many of today’s best-looking homes are constructed in simple, spare shapes with fine proportion. They don’t necessarily have an excess of arched windows and gables. You can save money by keeping your plans as simple as possible, which will also appeal to the widest range of buyers down the road.

Keep it low-maintenance

Investing more money now on high-quality materials can help you save money as a homeowner down the road. You might want to cut corners with cheap roofing materials, windows, and siding, but this just means you’ll probably have to replace them sooner rather than later.

Keep it sustainable

As with choosing high-quality materials to reduce maintenance costs, choosing sustainable materials will help you save on your energy bills. In addition to looking at sustainable materials, think about how your house will fit into the specific site and dominant climate. Installing plenty of insulation and facing your house in a way that lets it take advantage of surrounding light and shade will help you create a tight, energy-efficient home that can save you a bundle. You don’t need to install a costly geothermal heating system this way, either.

Keep it professional

Along the same lines, many are tempted to cut corners by hiring a contractor who charges less. Yet it usually pays off to go with a more skilled and experienced contractor. Builders who have experience and a network of subcontractors may charge a bit more, but they more than make up for it with efficiency and service. Naturally, you’ll need to compare reviews carefully to find a contractor who is qualified in your area. Similarly, building your own home can save you the cost of a builder, but if you don’t have experience with home construction you may end up paying more in the long run for any faults in the building.

Overall, it’s best to keep a cool head and use it to call the shots rather than listening to your heart. When building a new home, it’s easy to make emotional decisions and end up paying far too much for trendy features you don’t really need. By planning ahead with a strict budget and choosing a reputable contractor to work with, you can keep costs in line.

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