10 Crucial Things to Remember When Building a House on a Budget

Creating a new house marks an incredibly thrilling adventure you can embark on. I’ve been traveling and living around the world for the past 15 years, but there’s something uniquely thrilling about coming home to a space that’s entirely your own. If you’re about to start construction, there are several key things to remember when building a house, especially if you’re trying to stay within a set budget.

Let’s walk through the essentials, straight from years of experience and expert advice.

Key Things to Remember When Building a House

1. Set a Realistic Budget and Follow It Closely

This sounds obvious, but so many first-time builders get caught up in the excitement and spend far more than they expected. Begin by listing all anticipated expenses including permits, materials, labor, and design costs. Add a buffer of around 10 to 15 percent for unexpected expenses. Then, stick to that number as if your dream depends on it – because it does.

2. Choose the Right Location

The land you choose will affect everything from your construction costs to your daily lifestyle. Make sure the plot you select suits your needs and won’t eat up your budget with unforeseen expenses like tree removal, grading, or special foundation requirements.

3. Prioritize Your Must-Haves

Before you even meet with a contractor or architect, create a list of features you absolutely need. Whether it’s a specific number of bedrooms, an open-concept kitchen, or energy-efficient windows, know what you’re not willing to compromise on. This helps you stay focused when those tempting upgrades start appearing.

4. Hire Reliable Contractors

One of the most important things to remember when building a house is to work with the right professionals. A skilled siding and roofing contractor, for example, will ensure that your home is protected from the elements and built to last. Choose contractors with excellent feedback, solid recommendations, and clear costs.

5. Get Multiple Quotes

Don’t settle for the first estimate you receive. Whether it’s for your foundation, roofing, or interior work, get at least three quotes. This gives you a better understanding of the going rate and can help you negotiate a better deal without sacrificing quality.

6. Think About Resale Value

Even if you plan on living in your home for years, always keep potential resale value in mind. Avoid overly customized designs that might make it difficult to sell later. Choose neutral finishes and layouts that appeal to a broader market. That fancy sunken living room might feel luxurious now, but it could turn off buyers later.

7. Go Green Where You Can

Energy-efficient design is not just trendy – it saves money in the long run. Talk to your contractor about eco-friendly materials, LED lighting, and insulation that keeps heating and cooling costs down. South-facing windows, solar panels, and high-efficiency appliances are great starting points.

8. Plan for the Future

Think long-term. Maybe you don’t need that second floor or guest room now, but will you in five years? Plan your home with future needs in mind, so you don’t end up spending a fortune on renovations down the road. This also includes preparing for easy access to expand plumbing, electric, and HVAC systems if needed.

9. Keep Track of Everything

Organize all documents, including blueprints, receipts and contracts. Use a simple binder, cloud folder, or construction project management app. This ensures you’re always on top of expenses and agreements, and gives you a paper trail if disputes arise.

10. Know the Importance of the Final Walkthrough

Toward the end of the construction process, you’ll do a final walkthrough. Bring a checklist and be thorough. Look for unfinished items, minor damages, or things that don’t match your expectations. Don’t be afraid to ask your builder or roofing contractor to address any concerns. It’s your home, and this is your chance to speak up.

Frequently Asked Questions

Q: How much does it typically cost to build an affordable home?

A: It depends on location and size, but a well-planned budget build can range from $100,000 to $300,000. Consistently account for approvals, workforce, labor, and an emergency reserve.

Q: Which is more affordable: purchasing or building a home?

A: It varies. Building can be cheaper if you plan wisely and avoid unnecessary upgrades. Buying may save time, but it often comes with repair and renovation costs.

Q: Should I act as my own general contractor to save money?
A: While it may cut costs, it can also add stress and risk. Only consider this if you have strong project management skills and experience with construction.

Q: What are ways to boost energy savings in my newly built house?
A: Install insulation, energy-efficient windows, and appliances. Work with your siding and roofing contractor to optimize the design for heating and cooling efficiency.

Final Thoughts

The journey of home building can be filled with joy and stress, but with a little preparation and the right team, it doesn’t have to break the bank. Remember, the most important things to remember when building a house are planning, budgeting, and surrounding yourself with trustworthy experts.

Looking for a trusted exterior home renovation expert? Whether it’s roofing, siding, or complete renovation, Home Makeover has the experience and tools to bring your vision to life – on time and on budget.

Let your dream home take shape the smart way.