Building a new home is like a dream come true, because you get to customize it fully to your own tastes and tailor it from the ground up. The only problem is the cost, because personalization is always an expensive privilege. That doesn’t mean that you can’t build the home you’ve always wanted, though; it simply means you have to look for secret ways to cut the costs as you go along.
Think Outside the Property Box
Where you build is just as important as how you build, because you can really cut your costs with the right construction site. There are “problem lots,” for instance, that really aren’t problems at all. Would you consider a gorgeous hillside spot a problem? Narrow sites or in-fill spots are likewise less expensive than those lots that are generally considered perfect.
Are you dying for water views? That gets expensive, because that’s prime real estate. If the water itself matters more than the source, give up the idea of seeing the lake or the ocean outside your windows. Opt for a pond, a river, a bay, or even a canal. You’ll still get lovely views, but the real estate isn’t so prime, which will make it more affordable.
Prepare to Compromise
In that same vein, you’ll have to compromise on some of your must-haves, with the lot and the house. You can’t always get what you want—but yes, you can get what you need. If you find a lot you love but can’t afford, for example, think about going in halves with friends or family members, at least if there’s room for two homes. Understand that you might not get those perfect water views, and there won’t necessarily be any cul-de-sacs in your price range. Think long and hard about what you can live without versus what you must have.
Find the Right Help
As you look for agents, construction companies, and places to get your materials, work smart. Read up on reviews, ask for recommendations, and always check out your rapport. More importantly, make sure you’re getting the best deal with whomever you choose. For example, some home building companies offer flexibility in terms of the materials you can use and the features you can choose for your home. That way you can control the associated costs, which is always what you want with anyone you hire. Here are some great tips by Taylor Morrison for first time home builders and buyers.
Get Creative with Upcycling
The materials you choose for your home can save you a bundle as well. Because upcycling and scavenging are both so popular now, you have a wealth of materials in the most unexpected places. Browse secondhand stores, estate sales, old or demolished buildings, abandoned barns, falling brick homes, anything that catches your eye. This will also add an appealing, vintage look to your new home.
DIY Only What You Safely Can
You can save a lot of money with Do-It-Yourself tasks, but know your limits. If you try to install your own plumbing or electrical wiring but don’t know how, you’ll spend more money later fixing your own mistakes. Worse, you could harm yourself or cause costly damage to your new dream home. DIY what you can to safely cut costs, but let the professionals do the professional work.
Conserve Now, Splurge Later
Different from compromising, sometimes you have to act conservatively as you choose wall, flooring, and other building materials. That Italian marble is gorgeous, but do you really need it now? You can always splurge later, after the rest of the house is in place. For the time being, conserve where you can and plan for bigger things down the line.
Similarly, you may want to consider going with lower maintenance materials. If you choose vinyl siding, for instance, you won’t have to worry about upkeep with painting later. The same is true for a cheaper but still sturdy metal roof.
Although it is expensive to build your home from the ground up, it won’t completely bust your bank account if you’re smart about it. Besides, you have the added benefit of getting almost everything your heart desires, and what’s better than that?
Hailey is a recent graduate with a degree in Journalism. Now that she isn’t face first in books she is trying to travel as much as she can. She writes in her free time between fixing up her new house and teaching people how to live a longer, healthier life.