Affordable Custom home building

How to get the custom home of your dreams without breaking the bank

Are you in the process of planning your home and are getting bombarded with luxurious pictures and advertisements of beautiful homes? Maybe you are starting to feel like building your dream home is going to be too tough of a challenge, let alone trying to stay under your budget? Well, we are here to say don’t lose hope!

Every homeowner deserves to have the chance to create a home that is designed to meet their preferences and lifestyle. The good news is that there are many ways to help you stay on track with your budget. Let’s keep it simple and talk about 4 basic ways to get the custom home you deserve without breaking your bank.

#1 Address Your Budget

Before we can go any further, we must address the most crucial step which is figuring out your realistic expected budget range. Remember the true driver of the home’s ultimate cost is the size of your house. According to the Australian Bureau of Statistics (ABS), the cost per square meter for a basic home is estimated at $1,580.

When your design starts taking shape, your budget will also start taking shape. That’s why it is important to factor in the estimated costs of the following:

  • The land you will be buying to build on
  • Fees and taxes (stamp duty)
  • Design and engineering fees
  • Construction fees
  • Landscaping cost
  • Interior styling and furnishing

What are your expectations? How many bedrooms? Do you want a home office? Gym? How many bathrooms, how big is your garage? Gather photos of what you want your home to look like. Now, you will be able to communicate your budget explicitly and clearly to your builder.

#2 Be Strategic Where You Overspend and Underspend

You can save money when building a custom home in the areas of finishes and selections, such as hardware, tiles, plumbing fixtures, and countertops. For example, lighting fixtures are known to be the jewellery of the home, but you can quickly overspend in this area. Therefore, you could spend more money in the main areas of your home and then underspend in the areas that are less used. The same goes for the doors! Remember you can always change cosmetic items after handover (e.g. light fixtures) so you can save for them later.

custom home building light fixtures and cabinetry

Another way to save is to do your research and select tiles that look almost identical to the more expensive tiles so you can replace them in areas such as the bathroom. They would still give you the same look and feel that you are going for. No one will be able to tell! Most importantly, talk to other homeowners to help filter out and differentiate between your needs versus your wants for your home. Remember again that there are a multitude of items you may choose to complete yourself or after handover to save $$$ with your builder, DIY can be your budget’s best friend.

Also, be strategic with where you actually need storage space. Build-ins such as cabinetry can spike your costs as they will likely need a countertop, need to be manufactured, painted, installed and will include additional hardware such as hinges and knobs. The moral of #2 is to splurge in the areas you use most.

#3 Modify an Existing Plan

It can be quicker and less expensive to make changes to an existing floor plan as opposed to starting from scratch. If your builder has in-house design capabilities, they might let you alter an existing floor plan. Find a plan that satisfies most of your requirements, and then adjust it more.

custom home building

#4 Choose the Right Builder

Finding a reputable bespoke builder can be a daunting task, especially since there are so many to choose from in the market. You want to work closely with an experienced builder that sees the bigger picture, understands how to work with budgets, and has award-winning designs.

And there you have it, 4 basic ways to help you get the custom home of your dreams without breaking your bank. Trust us, this extra leg work has the potential to save you thousands of dollars in the long run.

As experienced custom home builders, Lofty Building Group is innovated with cutting-edge, streamlined processes to help build stylish, custom homes affordably and fast. It all starts with a conversation. Get in touch with us today.

 

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