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New Build: 4 Simple Ways to Keep Your Budget Above Ground

by The Urban Specialists 08/01/2021

Image by Paul Brennan from Pixabay

Building a new home is more affordable than many people realize, and it’s sometimes even cheaper to build new than to buy previously owned. Some tactics can make what’s already an affordable home solution even more affordable.

If you’re looking to build but are on a budget, here are four ways to save money on new home construction.

1. Build Smaller

Building smaller provides obvious cost-saving measures, as fewer materials and less time are needed to construct the house. You’ll also likely save on future property taxes if you build a smaller home, since property assessments often factor in a home’s size.

While building smaller leaves you with less square footage, the amount of useable space that’s sacrificed can often be kept minimal. A small home that’s well-designed for your family’s lifestyle and needs can actually provide more useable space than a larger home that’s not as thoughtfully laid out. A practical floor plan and custom built-in features can maximize a small home’s space.

2. Forgo the Upgrades

Custom-built homes come with many optional upgrades, and you’ll undoubtedly want some of them. Only get those upgrades that you truly need and fall within your budget. Any you don’t have the funds for when building can be delayed until a future date.

Remember, upgrades are not mandatory. If you find yourself questioning which ones would be right for you, don't add any for the time being. Spending some time in your home as-is gives you time to experience the house and then decide what upgrades would be most beneficial for you.

3. Finalize Everything Up Front

Before breaking ground, check and confirm all of your chosen options. You should be entirely confident in the decisions, because changing them once construction starts usually increases costs. You’ll save money overall if you take the time necessary to make all of your chosen decisions prior to actually starting work on the job site.

4. Ask About Finishing Certain Aspects

Many aspects of new home construction require skill and expertise, and your home builder’s team should complete all such parts of the building process. Toward the end of construction, however, there are some finishing touches that aren’t as specialized. You may be able to save money on construction costs if you complete some of these final items yourself.

Talk with your home builder about what you might be able to do on your own and ask them how much you could save by doing the work yourself. Whether this is permitted varies from builder to builder, but it can help when builders allow. Landscaping, interior painting and appliance installations are all good items to consider, depending on your skill set, available time and personal interest. A builder may know of other finishing items you can do, too.

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The Urban Specialists

CITY RESOURCES The great thing about urban centers is just how much stuff you find around you. Your favorite restaurants, cultural activities and museums are within walking distance of your front door. It's convenient and adds to how much you get out of your place. For more info on New Haven, check out these links: Info New Haven Visit New Haven We are passionate about the environment. We are eager to help you to add value to your current home, save money on utilities, make your lives more energy efficient and eco-friendly, and generally live a "greener" lifestyle, all without sacrifice. For more info on green living in New Haven, visit these sites: CT DEEP Neighborhood Housing Services of New Haven USGBC's Green Home Guide We care about historic properties and their communities and wish to encourage preservation of our community's architectural and cultural history. For more info on New Haven preservation, check out these links: CT Trust for Historic Preservation New Haven Preservation Trust Historic Homes Downtown Areas Neighborhoods Green Homes Bethany Branford Guilford Hamden New Haven North Haven Orange West Haven Woodbridge Olivia C. Martson Olivia Martson is a long time resident of New Haven. She lives and works in downtown New Haven and is thoroughly familiar with the pros and cons of urban living. From 1992-1997, she served on the New Haven Board of Alderman as the elected representative for Ward 2, the downtown neighborhood immediately west of Yale University. Fore more : Biography - http://media.mlspropertyfinder.com/418613/preview.jpg