How to stay on budget when planning/building a house

– If you have a large family and require more space, prioritise the size of your home over the level of finishes. That is, avoid interior design, low-cost carpets, and low-end appliances. You can always upgrade finishes in the future… but adding square footage after your build is much more difficult and expensive.

– If you are more interested in custom details in your home (e.g. furnishing, bath tubs, high-end appliances, custom cabinets, etc.), then focus your budget on the finishes rather than space.

– Be honest with yourself about all of the costs you will incur during purchasing the land, the building process (and moving in) process.

– Construction costs, land purchase, and builder/architect fees are all obvious… However, there are numerous other costs to consider.

– Legal fees, permit and financing costs, moving fees, and the fun stuff… basic amenities, furniture/décor, and landscaping are all part of the bill. When creating a REALISTIC budget, it’s critical to keep ALL of this in mind!

– You just need to be very clear about the level of finishes you want (e.g. custom trim work throughout your home).

– Everyone says you’ll go over budget [when building a house]… and I agree to a point. BUT, I was able to stay VERY close to budget because I was very clear with my builder about the quality of finishes I wanted BEFORE he priced our custom home.

– If you are completely honest and upfront with your builder about EXACTLY what you want BEFORE he or she prices the house, he or she will be able to provide you with an accurate quote.

– People who claim to be “50% over budget” most likely had numerous change orders and ‘upgraded” their home WHILE it was being built (as opposed to knowing how nice of a home they wanted before they started).

Recommended Post: Tips to Reduce Building Costs: A Blog to Inform You on Ways to Save on Building Costs.

– It is preferable to make design decisions BEFORE construction begins. Make a strategy and stick to it! This is significant because you buy building materials at the price quoted at the start of construction.

– It is preferable to make design decisions BEFORE construction begins. Make a strategy and stick to it! This is significant because you buy building materials at the price quoted at the start of construction.

– During the construction of my house, we paid the quoted price for materials apart from the price increases of RAW Materials. We only paid more than our quoted price if we changed our order and chose a different (expensive) product. That makes sense?

– Do your homework on local builders! Take note of which builders’ clients consistently go over budget.

– I received two bids for my home construction… both with the exact same specifications (extensive trim work, etc). One bid outperformed the other. Guess which builder I chose… the one who was more expensive! Surprised?! I did this because I was confident in his figures and costs and moreover they are more professional than the other one

Recommended Post: A Brief Guide on Issues Faced by a Customer while Finding a Reliable Mistri/Contractor for House Construction/Renovation