Building Costs: Know Where to Save and When to Splurge

Although building your custom home is a large investment, this is one expense that can truly be worth the costs since a well-built and comfortable home will be enjoyed by you and your family potentially for a lifetime and then some.

It is smart to save money where you can during this process especially if your budget is a bit tight right now. Many wishes can be delayed for later, but some things are not worth waiting on.

Areas where homeowners should splurge on follow below.

High-Quality Structural Materials Especially if Low-Maintenance

Individuals building their own home should never skimp on high-quality structural materials especially when those pricier items also have the benefit of being low maintenance as well.

Important structural materials and building areas include:

  • Windows and doors
  • HVAC systems or separate furnace and air-conditioning unit
  • Home’s foundation
  • Type and amount of insulation

Costs of Experienced & Skilled Labor

Another area where a homeowner should never cut costs involves the cost of experienced and skilled labor. The old saying that you get what you pay for tends to ring true in this case. Avoid fly-by-night building contractors that promise you the moon but typically fail to deliver. You will only end up paying more for all the expensive repairs and replacements at some point in the future.

Also, dealing with little known home building companies might set a homeowner up for common building, real estate and financial scams or frauds that could create a financial disaster.

It can take years to take this sort of case through the arduous court process that still won’t guarantee that you will see any recovered money. Save yourself the hassle and only hire local home builders that have a superior community reputation that can easily be researched.

Better Grade Energy-Efficient Windows, Top-Quality Front Door & Insulation

Investing now in better grade windows that are energy-efficient and offer easy-clean features or protective finish options can end up saving a homeowner more by way of continued lower energy bills every month. Also, there are often manufacturer, company and even government available savings promotions or tax rebates that can add up to a nice nest egg.

Homeowners should do the same when choosing a top-quality, strong and well-insulated front door as well as opting for finer quality insulation to ward off high energy bills in the future.

Function Over Space Layout Design Costs

Rather than spending a fortune on highly detailed and difficult to complete space layout designs, consider going with a less expensive open floor plan instead and decide on making more changes later. Choose a layout design that functions well for your intended use and leave room for later remodels or additions.

Finer Grade Flooring in High-Traffic Areas

Always go with finer grade flooring in high-traffic areas like living rooms, kitchen spaces and certain hallways or entryways. Pick flooring types that are also easy to clean and require little upkeep to make the cost even more worthwhile.

Storage Space

One of the biggest complaints that homeowners have is that they do not have enough storage space. Plan to incorporate customized storage directly into your building plans.

Ceiling Height & Overall Design Related to Square Footage

There are certain building areas that cannot be easily changed later. These include ceiling height and overall design space with regards to square footage. It makes sense to include higher ceilings and to add increased sqaure footage during the initial build process.

Fireplace Installation & Garage Size if These Items Are Desired

If part of your dream home includes a fireplace and/or a larger garage, it makes sense to add these items to your home building design plans rather than go through a costly remodel later.

Kitchen Related Building Materials & Design Elements

Almost every prospective home buyer desires an updated and customized kitchen space. Keeping top-quality and designer custom features in the initial build plan makes sense in the longer scheme of things.

Don’t be afraid to pay for higher-quality kitchen details that include:

  • Better kitchen appliances
  • Ample storage and higher quality countertops
  • A functional kitchen layout

Costs & Labor Related to Gas & Plumbing/Sewer Lines & Electrical Components

Never settle for cheaper labor and material costs when it comes to gas, plumbing and sewer lines and electrical components as well as labor to install these necessary home features. It will only backfire later.

Bathroom Related Hard-to-Change-Later Design Elements

Get the bathroom space that you desire by ensuring that plumbing/sewage lines are going to work should you desire to expand or otherwise renovate one or more-bathroom spaces later.

Areas where homeowners can save for later include the following.

Flooring Costs in Less Traffic Areas

Go ahead and choose less expensive flooring or carpeting in areas where the traffic is less and not as visible to guests. There are some excellent faux flooring options that look like the real deal but cost much less.

Expensive Countertops, Fixtures & Expensive or Custom Lighting Design

Save on building expenses by selecting less expensive countertops especially in less visible places like bathrooms, laundry areas and mudrooms. This is true for expensive lighting fixtures too. There are good quality faucets, cabinetry hardware and light fixtures that still look high-end but are available at decent prices.

Other Areas Where You Can Save Money Now

  • Garage door with windows or an entryway glass door – these are easily installed later
  • Exterior surface materials – siding or expensive detailing can wait for later
  • Pricier cabinet materials especially in less visible elements
  • Expensive wall coverings or custom paint jobs – these can wait for now

There are many budget-freindly building materials that allow homeowners on a budget to still get their money’s worth on their dream castle. It is best to hire a local and experienced home building contractor who can go through the available opens and discuss price ranges and alternate materials and supplies.

This can save a tremendous amount of money and hassles. Always choose a home building company with a proven stellar business reputation. These professionals are more likely to speak truthfully about cost savings and other matters because pleasing their clients has a positive impact on their business reputation.

Conclusion:

It is possible to build your custom dream home while still keeping to your budget if plans and cost estimates are reasonable. There are ways to make the most out of where to spend your hard-earned dollars.

Denver Urban Builders can be reached by phone via (720) 902-5773 or fill out our online form for estimate details.