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.