How To Save Money When Builder Building A New Home

A home purchase may be one of the largest investments you make in your lifetime

. You need to be smart and savvy to ensure that you make the correct decisions along the way. This is particularly true if you are building a new home. Most people are also held to a strict budget, though, and are trying to make each dollar spent in the process stretch as far as possible. There are a few things that you and your builder can do to maintain a quality finished product while saving money.

First of all, choose land and floor plan with budget in mind. The cost of the land can make a huge difference in the overall cost of the home. Look at more than just the price tag, though, as some properties may be more expensive to build on. Lots of large rocks or areas that do not have access to water or sewer lines could drive the price of construction up significantly. Floor plans can also make a difference. A two story home is generally less expensive to build than a ranch style home. This is due to the fact that the footprint, or foundation, and roof of the home are generally smaller with a two story even with similar square footage.

Choosing and working with your builder can also save you money. Select a company that you can trust by asking for referrals and inspecting the quality of homes that they have completed. Get bids from at least three different companies before making your choice. Dont just jump at the lowest, bid, though. Sometimes the lower price comes with poor workmanship and materials. Once you have selected a company to build your home, decide early on the specifications of the home so that you can avoid costly changes down the road. Some changes are easy to include if they are brought up at the beginning of construction. Other changes may be very costly to include if you have decided that they are necessary later on in the process.

Some builders will allow you to be more involved in the construction of the home than others. If you would like, providing some sweat equity may drive down the price of the home. Dont take on a project that you have no experience with, though, so that it doesnt end up costing you more money later to fix. Occasionally, some companies will allow you to search for deals on items like lighting and appliances that they can install. Make sure that you work together, though, so that you dont purchase items that dont fit or are inconsistent with the design of the home. With a good working relationship, you are your builder may be able to build the house of your dreams while saving a few dollars along the way.

by: NBA Online

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