Building a new home is no doubt a very exciting time, but it is also a significant financial investment. However, with careful planning and strategic decision making, it is possible to cut costs without compromising on quality or comfort. We are about to dive in on some simple tips to help you navigate your building process from start to finish, while keeping your budget in check.
And it may not be what you’d expect! Here are our clever ways to cut costs when building a home from start to finish.
LAND
Look At The Fine Print
Considering purchasing a block of land for your new home or knockdown rebuild? We have three words for you:
Do. Your. Research!
One of the easiest ways to blow your building budget is to wind up with a block of land that has too much slope, poor soil, or a suboptimal orientation. Poor site conditions can add thousands to your build cost, shattering your dreams before you even begin.
Don’t underestimate the difference the right block of land can make!
BUILDER
This Might Surprise You
When you’re trying to cut costs it may seem like a good idea to shop around for the cheapest builder. We hate to break it to you, but that is risky business! Building a new home is a huge investment, and putting your money into the wrong hands can cause some serious heartache. We get it – choosing a builder can feel as confusing as driving through an unfamiliar city without navigation. And to make it worse, pricing between companies is wildly inconsistent. So how do you ensure that you’re getting a good deal?
Consider these factors:
-Reputation – What do past clients have to say about their experience?
-Inclusions – Are you going to have to spend an arm and a leg on upgrades?
-Time Frames – How long is construction expected to take?
-Site Costs – How will this impact your overall investment?
-Provisional Allowances – Will this cover everything you need?
-Quality – Have you visited any display homes? Are they built to last?
Selecting the right builder instead of the cheapest builder will leave you with a quality product that you can rely on for many years to come.
PROCESS
Don’t Make This Common Mistake!
REPEAT AFTER US: TIME = MONEY!
It is true that building a new home is a marathon, not a sprint. However, the longer it takes, the higher your overall costs will be. The best thing you can do to prevent unnecessary setbacks is to show up to the game prepared. Always knowing the next step in your building journey will allow you to focus your time and energy into the right things. Not only will this minimise the risk of decision regret, it will also save you valuable time. There’s no use spending a week searching for the perfect carpet if your floor plan is in disarray!
DESIGN
Good Designs Take Time
From staying within the standard builder’s range to completing DIY projects after handover, there are plenty of ways to save money when designing your new home. But one thing that is often overlooked is the importance of preparing for your design selection appointment. It is unreasonable to think that you can make hundreds of decisions in one day without regretting at least a few of them. Instead, begin preparing as soon as you have signed off on your floor plans and external colours.
Don’t waste money by making rushed decisions!
CONSTRUCTION
Careless Changes? It’ll Cost You!
Unfortunately, failing to prepare for your colour selections appointment is an issue that will follow you right into the construction stage of your build. The easiest way to dampen what should be an exciting journey is to anxiously await each construction stage, doubting the choices you made at your selections appointment. And the worst part is, once construction begins you are practically locked into your selections. While it is possible to make last minute changes, it will likely result in a builder’s variation fee. Not to mention, waiting for new materials to arrive and taking the time to re-install puts your whole build on hold. The result? You guessed it – more money!
Don’t put yourself in a position you will regret. Do your research now and thank yourself later!
