There are right ways and wrong ways for saving money building a new home. Cutting corners in the wrong ways can cost you money or make your home less livable. Cutting out things that truly matter to you is also a bad way to save money when building a new home. One of the key goals in designing your own home is to tailor the home to fit your family. Spend extra on things you care about, and save on things that are less important. Save in practical ways that enhance the use of space, and not by cutting corners on overall construction quality.
Saving Money Building a New Home Tips
Saving Money Building a New Home Tip One: Avoiding the Wrong Ways to Save Money
Any measure which might compromise the structure of your home is definitely the wrong way to save. I have heard some horror stories of home builders or contractors using two by twos instead of two by fours, wiring that catches fire the first winter, structure and plumbing problems with homes built on slabs, and low quality sheeting materials that take on moisture and rot are among to name a few problems. It’s important not to let this happen to you.
The best way to make sure the home builder or contractors don’t sacrifice quality to save money the wrong way is to be involved in the construction process by asking questions about the building materials and if they are adequate for the job. To avoid some of these pitfalls and to become informed on the over all home building process download the 98 page Free New Home Steps Guide offered on this site, and continue to research all aspects of building.
Saving Money Building a New Home Tip Two: Save by Preventing Wasted Space in the Floor Plan
Designing a floor plan for optimal space utilization is the key to having an economical and comfortable house and is a key way in saving money building a new home. Awkward and unusable space is just more space you’ll have to heat and cool. Make sure you know how you will use the spaces in your new home before you build them.
Here are some additional saving money building a new home floor plan tips:
• Avoid long narrow hallways. Hallways are generally wasted space, unless they are wide enough to hold cabinets, or book shelving units.
• It is usually best to arrange rooms so that hall ways are not required. Branch rooms off of living areas instead.
• If you need a hallway build it wide enough to put book cases on each side.
• Consider a great room to avoid the space taken up by extra walls between living areas.
• Plan how you will utilize space as you make a plan and always think about ways to save money.
• Use home design software to create accurate floor plans with furniture added. This will help you to see which areas seem cramped, which areas are hard to use with standard furniture, and which areas are excessively spacious.
To lean additional ideas on saving money building a new home check out my article New Building Home Prices.
Saving Money Building a New Home Tip Three: Kitchen Planning for Optimal Space and Economy
Corner cabinets are very stylish, but they waste space and are more expensive. Avoid adding too many corner cabinets. Use straight runs when possible Straight runs on opposing walls or the typical L shape with one corner are more practical for small kitchens than adding a lot of corners. Islands are also great, but avoid overpaying for specialized cabinets or non-standard sized cabinets. Standard cabinet widths are 12”, 18”, 24”, 30”, and 36”. Some sink bases come in 48” and 60” widths as well. Keep these numbers in mind when planning your kitchen. The larger cabinets are a better buy, and provide more versatile storage than smaller ones.
Here are some additional saving money building a new home kitchen tips:
• As a basic guideline, plan for 24 to 48 inches of counter space on either side of the sink, and the same for the stove.
• There should be a cabinet on the opening side of the refrigerator but no fixed cabinet on the other side. This will give you more freedom of choice when it’s time for a new refrigerator. Future savings on refrigerators depend on versatile sizing.
• The position of the stove, frig, and sink should form a triangle.
• Counter top space and cabinet space are very important. Plan what you will use or store before you build.
• Study kitchen layout extensively before planning your kitchen.
Saving Money Building a New Home Tip Four: Save on Plumbing
Installing plumbing in a logical and orderly fashion saves money now and problems later. Use less pipe, and avoid expensive fixtures unless you specifically want them, and above all design for future plumbing crisis situations. Remember, less pipe, and easier access, will lead to fewer problems in the event of leaks.
Here are some additional saving money building a new home plumbing tips:
• When arranging a floor plan, keep the kitchen and baths close together.
• Do not build on a slab, and if you must don’t let contractors put plumbing under concrete.
• Install plumbing along one of the exterior walls for example in a straight line.
• Avoid placing bathrooms in the center of the house, but rather near an exterior wall.
• Price plumbing fixtures and learn what each cost.
• Avoid unnecessarily expensive toilets, showers, and tubs, unless these are of specific importance to you.
• Consider your own lifestyle, habits and preferences when selecting plumbing fixtures.
Saving Money Building a New Home Tip Five: Save Over time with Energy Efficient and Green Construction
Anything you can do to save on your electric bill is money in the bank, and paying better interest rates than a CD for sure. Since you will probably be paying for your home over time, saving money on your electric bill will allow you to make those payments a lot more comfortably.
Here are some additional saving money building a new home green tips:
• Consider installing the latest solar technology.
• Make sure your home is an energy efficient structure.
• Invest in energy efficient appliances.
• Find out how to best construct your home to qualify for discounts on your electric bill.
To lean additional ideas on saving money building a new home check out my article Green Home Construction.
Saving Money Building a New Home Tip Six: Save Thousands On Your Mortgage
Even at today’s low rates you will end up paying for your house fully twice with a standard 30 year loan. That’s right interest paid will equal the original cost of the house unless you strike a really good bargain with your bank.
Here are some additional saving money building a new home mortgage tips:
• Save to make a larger down payment
• Clean up your credit before you apply for a loan
• Get a low fixed rate
• If possible choose a 15 year loan instead of a 30 year loan.
• Try to qualify for an FHA loan.
With careful planning you can save well over $100,000 on loans, wasted space, household repairs and your future utility bills. You do not have to compromise quality, or your dreams when saving money building a new home.