Table of Contents
- 6 Ways to Save Money During your Custom Home Build
- 1. Decide on a budget before starting
- 2. Consider the layout, size, and design
- 3. Shop for the right builder
- 4. Don’t pay for things you don’t want or need
- 5. Pick energy-efficient appliances
- 6. “DIY” if you can
- No matter what your budget is, make your custom home yours
When it comes to building a new custom or semi-custom home, striking a balance between saving money and not skimping on quality can seem tough. But budgets are extremely important! That’s why the team here at New Era Homes put this guide together to help you cut costs where you can when building a new home.
6 Ways to Save Money During your Custom Home Build
1. Decide on a budget before starting
This step might sound painfully obvious, but you’d be surprised how many people and families go into the home-building process with just a vague notion of how much money they’re willing to spend! Sit down with all the decision-makers (preferably including the builders, contractors, suppliers, et al.) to figure out what your maximum budget is, how much you expect to be spending on what, and where there might be wiggle room.
With a solidified budget in mind, you can make more informed decisions on the rest of the money-saving steps.
2. Consider the layout, size, and design
The size of a home is the one thing that most strongly correlates with price: the more square feet your custom home has, the more (on average) it will cost. At the earliest stages of planning, you’ll either choose a pre-designed floor plan from your builder or work to develop a fully custom floor plan.
If you’re trying to save money, this is the best time to do it. It might hurt to give up that extra bedroom, bigger master bedroom, or home office, but it’ll knock a significant chunk of change off your final price!
3. Shop for the right builder
Finding the right builder is one of the most critical steps when building a custom home, as the builder you choose will significantly impact both your budget and the final result. Start by researching local builders and gathering reviews from past clients. Look for builders with experience in the style of home you want and who are transparent about their pricing and processes.
Request multiple bids to compare costs, but don’t just choose the lowest price; instead, focus on builders who offer a balance of affordability, quality, and trustworthiness. Meeting with potential builders in person can give you insights into their communication style and whether they are the right fit for your project.
Additionally, ask about their relationships with suppliers and subcontractors, as strong connections can lead to discounts and cost savings. A reputable builder will be willing to work collaboratively with you to find cost-saving opportunities without compromising quality.
4. Don’t pay for things you don’t want or need
As tempting as it is to go all out with features, bells, and whistles, it’s a quick way to drive up the price of your custom home. It’s important to agree on what to prioritize with the person you’re building your home with. Maybe you’re dead-set on having under-cabinet kitchen lighting, but you’re fine with standard carpets. Or maybe you need triple pane windows for good insulation against cold winters and hot summers, but you’re not interested in a smart thermostat.
That’s the great thing about a custom or semi-custom home: you only have to pay for the features or package that you want!
5. Pick energy-efficient appliances
Investing in the right appliances is a smart way to save money in the long run while building your custom home. Energy-efficient appliances may have a higher upfront cost but can significantly reduce your utility bills over time, making them a cost-effective choice. Look for models with ENERGY STAR ratings, as these are designed to consume less electricity and water. Timing your purchase is another way to save; shop during holiday sales or manufacturer clearance events to get the best deals.
When budgeting, focus on high-use appliances like refrigerators, ovens, and HVAC systems, as these provide the most noticeable return on investment. If you’re willing to be flexible, consider opting for last year’s models, which are often discounted to make room for new inventory. By prioritizing durability and efficiency, you’ll not only save money but also enjoy a more sustainable home.
6. “DIY” if you can
Talk with your builder about what can be left for you to “DIY” in the finishing stages of building your custom home. Some of the tasks you might be able to do yourself (depending on what comes standard from your custom home builder) include:
- Buying paint from a hardware store and painting the walls and trim
- Installing kitchen or bathroom cabinets
- Bathroom mirrors, window screens, and other relatively simple installs
If this sounds daunting, don’t bother with it! Not everybody has the desire to do it themselves, and there are plenty of other ways to save money when building a custom home.
No matter what your budget is, make your custom home yours
The joy and excitement of a new home is even greater when you get to make it exactly what you want it to be. Sometimes you may have to compromise between details, add-ons, quality, and your budget, but hopefully our guide on how to save money when building a custom home has helped you with some useful ideas!
And, if you’re looking to build a custom home in central Oregon, give us a ring! New Era Homes builds every one of our homes with Uncommon Standards. No matter what your budget is, you’ll get every one of our 176 Uncommon Standards, from upgraded fixtures and appliances to robust HVAC systems.
