Residential

Cost Saving Tips for Building an Affordable, Dream Home

Building a new home is a goal many people share; however, most find it chal­leng­ing to achieve that perfect house within a budget they can afford. According to an NAHB Con­struc­tion Cost Survey, in 2017 the average single-family home cost $427,892 with 2,776 square feet of finished floor space. The monthly mortgage payment for a home costing $427,892 (with 20 percent down payment) is over $2200. By law, lenders can not make mortgages that require more than 35 percent of a monthly income. However, lenders are usually more con­ser­v­a­tive and typically require that the mortgage is no more than 28 percent of family income.

To meet the income standards for most lenders, the future owner of a newly built home will need an annual income of over $94,285. Unfor­tu­nate­ly, according to a current report by the Bureau of Labor Sta­tis­tics (BLS), the median weekly income for full-time workers in the United States is $881, or $45,812 a year. Still, there are ways a family can reduce the cost of building a new home and get the house of their dreams. A few tips that can save new home builders money, and also increase the resale value of their future home, are to build small, design simply and effi­cient­ly and select high-quality materials, methods, and professionals.

Build Small to Reduce the Cost of New Home Construction

A clear way to reduce the cost of building a home is to make it smaller. Future home­builders are wise to carefully assess their actual needs in a home before designing the house. How many bathrooms and bedrooms are actually needed? Do you need a home office? Can that home office double as a guest room? Is a living and family room required or a luxury and do you need multiple dining spaces? A cost saving tip for building a new home is to eliminate wasted or rarely used areas and make the house smaller.

A Simple and Efficient Design Reduces the Cost of Building a New Home

It is essential when building an afford­able new home to consider the design. A simple, box house design, with limited exterior corners, saves on building materials, con­struc­tion time, and money. Also, avoid complex roof lines. Not only are they expensive, but they add to the risk of future leaks. Another way to save money when designing a new home is to build up. Building up saves money because the roof and foun­da­tion are two of the most costly parts of a house. When con­sid­er­ing the cost of building a new home, it is also essential to line up the walls and plumbing floor to floor. A simple, well-planned design of a newly built home reduces building materials, lessens con­struc­tion time, and saves money.

Save Money When Building a New Home by Choosing Quality Materials, Methods, and Professionals

Saving money when building a new home considers both the upfront costs of con­struc­tion and the future savings asso­ci­at­ed with operating and main­tain­ing the house. Home­own­ers will save money over time by choosing quality materials that are energy-efficient, long-lasting, and low-main­te­nance. It is also critical to carefully select expe­ri­enced, highly-qualified building pro­fes­sion­als. Home­own­ers must consider both the actual costs to build and the future expenses of the home when eval­u­at­ing the most effective ways to save money when building a new house.

  • Choosing high-quality products, such as siding, windows, roofing, etc. may cost more on con­struc­tion costs but will save home­own­ers money over time. Quality products are often more energy-efficient than lower cost materials, which saves home­own­ers both money and energy. Quality products are also more durable and lower main­te­nance and will not have to be replaced as soon or at all compared to less expensive products.
  • For long-term financial benefits select building pro­fes­sion­als with excellent rep­u­ta­tions for quality work over doing it yourself, or choosing less expensive and maybe less qualified con­trac­tors. When you consider the future costs of redoing or repairing sub­stan­dard work, it is worth the extra upfront expense of choosing high-quality building professionals.

Bautex Wall System — A Wise Choice for Cutting the Costs of Building a New Home

The Bautex Wall System saves new home builders money over time. In the long run, The Bautex Wall System saves home­own­ers money because Bautex Blocks are energy efficient, durable (fire-resistant, and disaster-resistant, pest-resistant), and low main­te­nance. Building with Bautex saves money over time by reducing energy use and lowering if not elim­i­nat­ing replace­ment, repair and main­te­nance expenses.

Con­struct­ing a small, simply designed home saves a new homeowner on the upfront costs of building a new house. In addition, selecting high-quality, energy-efficient materials saves on future utility bills and main­te­nance, replace­ment and repair costs. Most impor­tant­ly, choosing building pro­fes­sion­al that are proven experts in their fields will limit chances of shoddy work­man­ship that will require expensive repairs. A sig­nif­i­cant future financial benefit to building a small, simply designed home with high-quality, low-main­te­nance energy-efficient products is an impres­sive resale value. For more infor­ma­tion on cost saving tips for a new home visit Bautex Systems.