How to Save Money on Building a New Home in 2015

How to Save Money on Building a New Home in 2015

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Even if you have the money, the cost of building a new home can seem daunting. There are so many fees associated that you don’t know where to start or what to pay and it may seem like you were out of your head trying to get it all figured out. If you were looking to save some money when you are building a new home, consider some of these to put some money back in your pocket.

Location

Perhaps one of the biggest expenses windows in your home is the location you choose. Obviously a premier lake spot is going to be more expensive than a simple lot in the middle of the suburbs, but there are other things that also matter when choosing the location to plop your house. Does the city have any extra fees associated with building a home? It is important to find out any extra dues you will need to pay, as well as any HOA dues that you will have to pay your new neighborhood, if any.

Choose Energy Efficiency

Although it may be a little bit more expensive upfront, choosing materials that are energy efficient will save you exponentially more money per month. Nowadays, it’s pretty much general practice to use energy-efficient building materials, so they are becoming cheaper. You may also be able to get tax credits if you go this route, so be sure to check out government sites to see if you qualify.

Know what you want before you build

If your contractor is half way through building your home and you decide to make a change at the last minute, there is going to be associated labor costs and extra material expenses. This can be prevented easily by knowing exactly what you want and exploring all of your options with your general contractor before you set out to build.

Customize a plan that’s already created.

If you have to hire an architect to build your dream house, you’re not going to be able to do it for very cheap. Consider choosing a stock home plan and just adding your favorite features to it. You’d be amazed by how much you can change it home just customizing it the way that you want.

Reuse

Reusing materials does not mean that you have to have a second house. Many home builders find old and salvaged materials desirable to add to the character of the new home. Scout out some locals salvage yards for your home, or find a local Habitat for Humanity Restore, which specializes in selling used building and home materials. You may find something with character that you can’t buy in any other store.

Understand that little things add up

Remember that a lot of the cost is not in the big things, such as building walls, but in the small things that add up. An example is if you choose flooring that is a dollar more per square foot than another one you also kind of like. A dollar doesn’t seem that expensive, but when you have two thousand square feet of it, it is significantly more. Pay for the most important things first, such as structural issues, and leave some money for the things you want later. Don’t be afraid to prioritize what you want to spend money on if you’ve been dreaming of something for a long time, because it’s probably best that you go for it.

If you are still worried about the cost of building a home, consider asking a professional, such as those at Princeton Classic Homes, who can help you figure out your own home questions or give advice to help you feel better about the money side of it.

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