Tips for Building a New Home or Office and Staying on Budget

tips for building a new home

People love self-building or managing the build of their home/office spaces because they can save as much as 50% on their final product by doing so!

The truth is though, building your own home or office by yourself or even with the help of hired labor can get pretty tricky.

There are a lot of odd problems you’ll have to solve like running electricity to your house, connecting into your city’s sewer system and more. There will also be a lot of hidden fees which could turn your home savings plan into a costs nightmare.

To help set you up for success, below, our team has compiled a list of tips for building a new home or office space that can help keep you on the straight and narrow.

1. Prioritize Your Wants If You’re on a Budget

When you’re building an office this isn’t so much of a problem but when you’re building your house, the “urge to splurge” is strong.

Fight that urge.

We can’t tell you how many people fall into the mindset of “It’s just an extra $300.00… Let’s do it.” and later realize that all of those splurges have added up to tens of thousands of dollars by the end of their build.

To avoid overspending, know in advance which features are “must haves” and which are things that you can live without (for now). With your key-features pre-determined, you can proceed to build without worrying too much about blowing your budget out of the water.

2. See If Build Costs Fluctuate Based on Your Area

One of our favorite pieces of advice when people are asking how to bring down the cost of their home or office is to look at other areas. Between taxes, regulations, and the cost of land, a lot of times switching your build’s location can bring down your price big time.

If you feel strongly about a certain area, we can understand wanting to splurge to stay in it. After all, once your home is built, you’re not going to pick it up and move it to a new plot of land later on (unless it’s mobile).

If you’re not sentimental towards an area though, being open to new locations can give you a lot of price flexibility.

3. Round Expenses Up and Build in a Cushion

Sometimes you want to build your own home or office so bad that you do mental gymnastics to make the numbers shake out the way you want them to. A lot of times when people do that, they end up well over budget.

If money is important to you, one of the biggest tips for building a new home we can give is to always be liberal in your cost estimates. Round everything up and build in an additional 5%-10% on the back end for unforeseen expenses.

You’ll be glad you did.

4. Consider Bringing on a Professional Builder, At Least to Consult

The cheapest way to get into a new home is to build it yourself. Building yourself, however, takes a lot of skill that the average person does not have.

If you’re brand new to the home building game and are set on heading to Home Depot, buying materials, and constructing your own home/office space – check yourself.

We recommend hiring an experienced builder to help you out, at least as a consultant. That’ll serve you a lot better than watching YouTube videos and just trying your luck.

5. Bid Out Jobs But Don’t Only Focus on Price

Some people hire a singular builder to help them construct their new home. This is typically the most expensive way to get into a house and will likely run you more than if you just bought a home pre-built.

The best way to get savings if you’re building your own home, assuming you’re not planning on physically building yourself, is to contract out each job individually.

You can learn more about that process but the basic idea is that, rather than having a central builder managing the building and sub-contracting, you’ll be the person managing your build and will sub-contract teams for each building task.

When accepting bids for different projects (plumbing installation, foundation laying, etc.) don’t only focus on price.

Ultra-low bids could mean ultra-bad work.

Focus on a combination of price, reputation and how secure you feel when discussing your project with a contractor. If you do that, you’ll end up with a good job that represents an excellent value.

6. DIY the Easier Jobs

While laying your home’s foundation may be out of your wheelhouse, installing sinks or laying tile could be a fun thing to take on that could save you money.

Having a hand in your home build, even in a small way, can grow your attachment to your property and can even be a great family bonding activity!

7. Ensure Your Land Plot Is Compatible With City Infrastructure

If there are no power lines or sewer lines around your land, you’re in trouble. Make sure that you see where your land stands with your city’s infrastructure before buying into it.

If you buy a cut off piece of land, your budget will almost certainly spiral out of control.

Wrapping Up Tips for Building a New Home or Office and Staying on Budget

There are a lot of tips for building a new home or office that can help bring the cost of your build down. We think that the tips we’ve listed off above are the most important and pose the most value when it comes to keeping you “in the black”.

As always, when budgeting for building a house, consult professionals before setting out to avoid issues. Good luck constructing your dream space!

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