Building a new home is a significant investment. You want to build your dream home. A house that fits your needs and personal tastes. Yet, you also want to be smart when it comes to budgeting. Thankfully, there are many ways to save money when building a new house. H.W. Holmes, Inc.
– a residential construction contractor in Ventura, CA – offers several suggestions for anyone serious about keeping costs down during a new home construction.
Get Several Estimates & Select Your Builder Wisely
To ensure you’re getting the best possible deal, always get multiple bids – even if you’ve seemingly found the builder you’d like to work with. For your own peace of mind, you’re going to want a few estimates for comparison’s sake. You are also going to want to seek out references. Most residential construction contractors will give you their best possible references. Ask for even more names of former customers for more well-rounded feedback. If you’re hesitant to ask, do some online research.
Smaller Might Be Smarter
There’s a reason the rich always live in the largest most lavish homes. Big homes cost big money. Now, for some people, a large home is a necessity. They have five kids, three dogs, and have elderly parents living with them. A smaller home isn’t an option.
However, a 1500 square foot home at $100 per square foot is going to cost $50,000 more than a 1000 square foot house. Assess your needs and consider creative and efficient ways to get the most out of a smaller space.
An open floor plan is one such way to do this. Actual walls aren’t always necessary. For instance, a kitchen, dining room, and living room can be part of one open space where they all connect with one another. An open floor plan can surprisingly accommodate many uses and functions without adding to cost.
When you keep the construction small, you keep it simple. Money is saved without the extra costs of more interior walls, doors, paint, or wiring. Smaller houses should prove to be more economical and much easier to maintain.
Beware of Super Affordable Lots
While a cheap lot might initially seem like a Godsend, it’s usually not the most cost-efficient to build on. If your builder has to clear away trees, blast through rock, or extensively enhance drainage, that’s going to negate what you thought was a great price for the lot. You also have to factor in things like utility installation or access to public services if the lot is in a remote location.
Reuse Recycled or Salvaged Materials
If you want to be both eco-friendly and save money on building costs, consider the reuse of salvaged or recycled construction materials. Reusable lumber, mantles, windows, doors, and lighting or plumbing fixtures can be found at architectural salvage warehouses. Plenty of good reusable materials are discarded during renovation projects. You and your builder can make use of someone else’s scraps.
Put Off the Frills & Extras
If your budget is tight, turn to Home Depot or Lowe’s for things like faucets, light fixtures, and door hardware. There’s no need for high-end extras like these when you’re budgeting a new home construction. Smaller items like these add up. You can always opt for upgrades later. In the meantime, a home improvement store will have everything you need.