3 Ways To Save Money When Building Your Dream Home

Posted April 27, 2021 by in Lifestyle

For most people, moving into their dream home isn’t something that’s really possible. If the reason you can’t live in your dream home is financial, there might be a chance that you’ll be able to afford that home in the future. But if you don’t currently live in your dream home because you haven’t been able to find it on the market, what you should really consider doing is building it from scratch for yourself. 

While having your dream home is great, the bill to get this dream home will also be great. So to help you reel your spending in and achieve this goal without bankrupting yourself, here are three ways you can save money when building your dream home. 

Rethink Your Square Footage Requirements

In many situations, what you imagined wanting in your dream home isn’t actually what you’d put at the top of your priority list when it comes to actually building this structure. So as you contemplate on what you actually want to be included, Hunker Team of SFGate.com recommends that you really think about how much square footage you actually need or want.

After you draw up the plans for your dream home, with all the bells and whistles, think about how much of this space you’ll actually be using on a regular basis. If you don’t plan on using a formal dining room but once or twice a year, maybe you can cut down on the square footage there so save yourself a lot of money. Think about whether or not you really need vaulted ceilings in the bathrooms or if the bedrooms are going to have wasted space. Anywhere that you can cut down will save you a lot of money during the build. 

Be Smart When Getting Bids From Builders

Once you’re ready to start with the building, it’s wise to get bids for multiple builders in order to find the best match for your needs and the price you’re wanting to pay.

According to HousePlans.com, one thing you’ll want to check as you’re getting bids from builders is that everything is included in the price. Otherwise, you might find that the builder with the lowest bid actually didn’t include certain items, which could then bring your costs way up. 

Use Wholesalers

If you’re wanting to save money during the build of your home by buying some of the materials or finishes yourself, Jeff Rose, a contributor to Good Financial Cents, recommends that you use wholesalers rather than buying from retail stores. While this might mean having to spend more time and effort finding the right products, you’ll be able to save a lot of money by finding a good deal this way. 

If you’re wanting to build your dream home but don’t have an unlimited budget to work with, consider using the tips mentioned above to help you find ways to save some money along the way. 

*Photos by SHOP SLO®