Finances can be stressful, especially when a lot of your money is going toward your brand new home. However, there are many ways to save when building your dream home. From shopping around for different builders, supplies, and furniture to ensuring transparent communication between you and your home builder, your new house does not have to break the bank!
Here are our top 7 ways to save when building your dream home:
1. Prioritize what is important to you.
Make a list of where your priorities lie. Write them down. Know what areas you are flexible in, and which areas you are not. For example, if that rustic fireplace is important to you and your spouse, make sure to write it down. Make it clear that it is not a compromise either of you is willing to make for your dream home. Research the costs associated with the non-negotiable items to set a realistic expectation. Surprise costs can add stress and that is not exactly a pleasant surprise! Know what to expect before the bill shows up.
Research is crucial during the initial stages. Check out different home builders in your area. Read reviews. Perhaps even consult with a few different ones before making a decision. Compare costs between different builders. Find out if their vision aligns with yours. You do not want to get stuck with a builder that doesn’t work well with others or has hidden costs or fees you were unaware of beforehand.
3. Communicate with your home builder.
Be transparent with your expectations and priorities. Remember that priorities list you made? Communicate your list to your builder. Consult with your builder and get their opinion on ways to save. They are the experts and have vast experience in this area.
4. Compare pricing of appliances and find discounts or sales.
Brand new appliances can cost thousands of dollars. If you can save here, it is absolutely worth it. Shop around ahead of time. Find discounts. Check out different stores and see if they have reward programs or discounts.
5. Find sales for the furniture you want before they are needed.
While your house is being built, check out different furniture stores. Again, it saves time and money in the long run! You will have more options on pricing and styles and will not have an empty house when you first move in.
6. Visit different banks and compare mortgage rates and construction loans.
Every bank offers different fees and rates on mortgages and loans. You may not need a construction loan, as this depends on your builder. Make sure to inquire into this when researching different builders. As for mortgage rates, find the best deal by looking into different banks in your area.
7. Rally friends and family to help you move.
Instead of hiring movers, have a team of close friends and family help you settle in. Reward their efforts with a BBQ. You can also cut corners by going to local stores and asking if they have any leftover cardboard boxes. This way you won’t have to spend money on boxes for your move. If you end up hiring movers, check out different companies and prices.
Get creative and save. Plan ahead and avoid surprise costs. You’ll enjoy your dream home that much more and won’t feel the stress from unexpected fees or financial pressure.
At Forever Homes, we work with you to build your dream home. Contact us for transparent pricing, excellent communication, and high quality.