Creating a custom home from scratch can feel equal parts exciting and daunting – particularly when you’re considering the costs involved. From engaging a builder to sourcing the fittings and deciding on your final design, the total can quickly add up.
Fortunately, there are plenty of things you can do to keep your home within budget. Read on to find out how you can turn your construction dreams into an affordable reality.
Make sure the home is right for you
Every home is unique – which is why it’s so important to decide early on the things that matter most to you. One of the key things to consider is how you need your home to function. There’s no point choosing a design simply because it’s trending if it won’t be suitable for you in the long run.
One of the easiest ways to begin the process is by creating a ‘needs vs. wants’ list. While marble countertops in the kitchen might be nice, it’s probably more important you budget for that extra bedroom if you’re worried about outgrowing your home. It can also help to consider where you see yourself living in five years’ time. If this is your ‘forever home’ you may feel differently about investing larger sums of money into certain areas than if you’re planning to sell up and move on.
Engage a reputable builder as soon as possible
Doing your research is key when you’re building a home on a budget. Start the process of looking for a builder as soon as possible so you can run your ideas by them and get an idea of how much everything will cost.
Rather than collecting a huge number of quotes, try to streamline the process by focusing on quality over quantity. Ask family and friends for recommendations, reach out to past customers on social media and make sure you select a company that specialises in the kind of home you’re planning. A good builder will always be upfront about the cost from the start, ensuring there are no nasty surprises along the way.
You may wish to work with a builder who utilises a design and build process. This means you’ll be dealing with one company from conception to construction, cutting costs and ensuring easier communication.
On the flipside, it’s advisable to avoid builders who offer square metre rates. These are unlikely to reflect the final cost, which could result in going way above budget.
Avoid variations, which can drive the price up
As with any big decision, it’s easy to get cold feet and worry you’ve made the wrong choices when designing your custom home. While you have every right to request changes, they are the number one way to overspend. Variations can come at a huge cost, eating into your budget when a new selection exceeds the estimated price.
To avoid this, it’s extremely important to work with a builder who values communication and will talk you through the process every step of the way. It may be tempting to rush in when you can’t wait for your home to be ready to move into, but a good builder will always take the time to help you consider your choices – so that when your home is finished, it’s exactly as you dreamed it.
