Setting a budget should be the first and most important step in building a new home. Your building budget serves as the financial plan for your entire design and construction process, from start to finish. Controlling costs from the get-go eliminates the risk of running out of money before construction is complete. So how can you plan to build your dream home without breaking the bank? Here are nine ways to help reduce your cost and keep your timber frame home project from running over budget.
9 Ways to Save Money on Home Construction Costs
Here are nine expert tips to keep your home construction budget from breaking the bank.
Written by Conrad Theodore
The more twists and turns in your home plan, the more effort it will require. That means more money, so keep your design simple and clean.
If you don't have to finish a space immediately, don't. Bonus rooms, basements and extra bathrooms can all wait.
It usually costs less to build a two-story home when compared to a one-story home that has the same square footage. This is because a two-story home will have a smaller roof and foundation. Plumbing and ventilation are more compact in two-story homes.
By timber framing the main rooms in your home and conventionally building the remainder, you can still have the look you want at a lower cost.
Wherever possible, ask if standard-sized windows, doors, cabinets and shower stalls can substitute for elaborate custom installations in the design. Custom orders usually cost considerably more.
This is an expense you can spread over several years. Find a designer who doesn't charge for a master plan. Then have the firm install the plants in phases.
Don't have an elaborate kitchen, big enough for the entire neighborhood, if you never entertain. You're only going to pay extra for something you don't need.
See also: How to Downsize Into a Timber Home
Any time you add gables and dormers, you add to the cost. Simplifying a few elements in the design can really add up in savings.
If you can save a few bucks by doing something yourself, like painting, cleaning or simple odds and ends, do it. The rewards of rolling up your sleeves and pitching in may go beyond savings and into personal satisfaction.