When building a home, what’s making that budget climb and climb? The cost is typical under your control as much as it is your builders, but there are definitely a few key areas that might break the bank.
So, as you venture off on the home building journey, here’s a few items that you can keep an eye on in order to hit that budget of yours!
Thanks captain obvious! In all seriousness, you should do a full self evaluation of how much room you really need and what rooms are most important to you. We are not asking you to completely hack away at your plan with no rhyme or reason. It’s important to really understand how you use your home. And, when you are looking at floor plans you see how you will use the space and how furniture will fit. When you don’t envision how you will use the space, most people error on the side of too big. When you do this you are adding unnecessary cost across the board. More studs, more sub floor, more joists, more hardwood, more drywall, more paint.... The list goes on.
Do you really need a breakfast room and a dining room? Do you really need a 10 ft kitchen island or is 5-6 ft ok? Do you really need a sitting area in your master bedroom?
It’s important to carefully trim out the wasted, unused space and be realistic with yourself!
One of the most expensive items when building a home is the foundation. Seriously consider 2 story plans when possible. The wider and longer you go, the more expensive your home will be. If you are only looking at ranch style homes seriously consider making the first floor as small as possible and maximizing space in the basement with bedrooms and egress windows.
It’s not just the shingles! Another huge cost that people don’t think of off the top of their head (maybe because its “over their head”.. I know bad joke right?) Anyway, a roof encompasses the trusses, sheathing, underlayment AND the shingles. Which is why its another one of the most expensive items when building. Again, the wider or deeper you go, the more your roof grows. The more your roof grows, the more expense you have. Also, consider the complexity of your roof. If your roof is very complex it will add cost for engineering and building and materials. If you are looking to save money, look for minimally sloped roofs with no changes in direction.
Unless your budget is unlimited, these are three key items to keep an eye on. When you meet with builders and architects, they have less incentive to keep an eye on budget since it’s not their money. They do what the client asks, which can often get you in trouble.
Why waste time designing a plan you’ll never build. Think cost with every decision you make!
Well, unless your Bill Gates...
Written by Cincinnati Build Coach - Matt Stanley of Stanley Realty