Tips for Building a Home on a Budget

Tips for Building a Home on a Budget

October 6, 2021

When it comes to home construction, your budget is one of the most important things to consider. Before you can decide on paint colors and furniture arrangements, you have to start with the foundation of a solid home construction budget.

What’s the secret to a healthy budget? Use the following tips for building a house on a budget to get the house you want without breaking the bank.

Understand land values

If your goal is to stick to a tight home construction budget, you may be tempted to look for the most affordable piece of land available; however, most affordable does not always mean the lowest price. It is crucial to understand the true value of the land before you purchase a plot. You may save more money in the long run by choosing a median-priced lot rather than the lowest price on the market.

For example, a plot of land may have a low price because it will be extremely difficult to develop. Due to location, grade, soil type or other factors, you may find it very challenging (and, therefore, expensive) to build your home on that land. Proximity and availability of utilities, zoning, size and layout are all important considerations.

Additionally, you should keep in mind the future value of your property. If you choose the least desirable lot (which makes it cheaper), this may hurt your property value and resale potential in the future.

Maximize your space

If you want a smaller home construction budget, focus on functionality of space rather than total square footage. Keep in mind that bigger isn’t always better—or necessary. Work with your builder to create a floor plan that matches your lifestyle and budget. Consider how you can create spaces that are multifunctional and make the best use of smaller spaces.

This will help you avoid wasting dollars on square footage you never use. For example, maybe creating a combo office/eating area makes more sense for your needs than a separate den off the living room. Think quality over quantity, to get the best ROI from every square inch of your home.

Try DIY finishes

Consider what finishing touches you could do on your own, so you don’t have to include these costs in the home construction budget. Possible DIY projects include hanging curtain rods and adding ceiling accents.

Of course, you don’t want to take on projects that should be left to the experts, but these final touches are often more decorative than structural. They may be tasks that you could do yourself to reduce your home construction budget. By making these projects DIY tasks, you can also give yourself more time to decide on your finishes after you move in and get a better feel for the surroundings.

Get more tips

For more expert tips for building a house on a budget, contact the professionals at Apple Construction LLC. We specialize in new construction, design consultations and planning. Our experienced team can help you create your dream home within the realities of your budget. Reach us today at 505-983-6014 to get started.

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