5 Significant Ways You Can Save Money and Resources when Building a Custom Home

Starting a home-building project is never an easy feat. However, it doesn’t have to be as expensive as many of us tend to think. With a little bit of budgeting, planning, thinking outside the box, and being economical, you can manage to cut costs and design a custom home you’ll love.

Create a budget for you to stick to

When it comes to building a custom home, it is easy to start splurging if you don’t have a set budget for you to work with. For starters, you want to create a plan you can stick to and that you can implement. You want to consider all the different costs that may come up during the construction phase and identify them.

Moreover, you also need to be decisive and know which mistakes to avoid. Aside from creating the list of all the must-haves for your new home, you should definitely leave some room in your budget for those nice-to-haves and unexpected splurges. Create a budget you can stick to and consult with your contractor so you don’t end up in an uncomfortable situation and run out of funds needed to complete your new home.

Save money by sourcing your own materials

While it does require some digging and researching, sourcing your own materials is a great way to save some money during the building process. Sometimes, you can find a similar model of the item that is being installed for half the price! Therefore, it makes sense to buy some things separately and have the contractor install them for you.

That being said, there are certain items that your contractors can get a better deal on (bulk items like paint, lumber, etc.), so do your research and see where you can save. Whether you get new or pre-owned items for your home is up to you. You can get great deals by purchasing second-hand items such as lighting fixtures and cabinetry and save some money that you can spend elsewhere.

DIY when it makes sense

When building a house, you should always look for ways to save money wherever that’s possible. If you consider yourself handy, think about the projects you can get done. It could be something such as installing kitchen and bathroom hardware that you purchased yourself. You could also ask friends and family to help you out with the project and see whether they’ve got connections at local shops you can take advantage of and potentially save thousands on your project.

Of course, some things are DIY-able and others are not, so knowing the difference is crucial. Given how newly constructed homes need an inspection, everything needs to be up to the code. Therefore, you want to leave certain tasks such as plumbing and electrical work to the professionals. That being said, don’t hesitate to roll up your sleeves and DIY when it makes sense. This could help speed up the building process while also saving you some cash along the way.

Rebuild your home instead of moving or renovating

For most homeowners, starting fresh often means either moving or renovating. However, renovations can be very time-consuming, risky, and always involve some extra costs, while moving homes means paying all those legal fees, agent fees, inspections, refinance costs, and stamp duty, and those costs can build up really fast. Fortunately, there’s another route you can take that’s also economical and more convenient, and that’s rebuilding your home.

This trend is being embraced globally but it’s particularly popular in places such as Australia, where almost a third of all new homes are demolished and rebuilt, saving money and resources along the way. Those living in the coastal metropolis can turn to seasoned architects and engineers specialized in knock down rebuild in Sydney and have their new home redesigned so it fits their needs, whether they want to downsize or expand. By rebuilding your home, not only do you get to stay in the location you love but you’re also making an investment that could increase your property value.

Rely on recycled materials to build your new home

Relying on recyclable, reusable, and renewable materials to build a home is the perfect example of employing sustainable methods of construction. It is also a great way to save money during the building process. Go green by using recycled building materials – they can be very cheap, and sometimes you can even get them for free. Another way to save money and go green would be to use construction materials that you reclaimed from demolition. Trying to salvage as much as possible will not only help reduce your impact on the environment by reducing greenhouse gas emissions, but it will also cut costs of the construction – it’s a win-win situation all around.

Building a home doesn’t have to cost a fortune and each home building phase could be a chance to save a significant amount of money. Be creative, save where you can, and you might end up with some leftover money you can use to furnish your beautiful new home.

About the author:

Mike Johnston is an avid blogging enthusiast and experienced freelance writer with a focus in real estate, home improvement, and the construction industry.