One of the biggest client concerns is budgeting to build a house. When building a custom home, staying within budget is of the utmost importance to most of our clients. So, how can you stay within budget when building your custom home?
Budgeting to Build a House
To start, working with a trusted design-build team can help you create a realistic and appropriate budget. Setting realistic expectations from the beginning is arguably one of the best ways to stay within your budget. When you and your design team create adequate allowances for every aspect of building (ie. appliances, lighting, flooring, etc.) it is much easier to prevent over-spending.
However, creating a realistic budget is only the first step. This isn’t a fail-proof method to staying within budget. Once the budget and allowances are finalized, it’s up to the client (AKA you) to stay within those limits. Unfortunately, it can be easy splurge on flooring that is $2/square foot more. But, truth is: all the little additions add up quickly.
Over our last 20+ years of experience, we can confidently say that there is never enough money. Even if we increased every budget by 30%, most would still overspend and exceed the original budget.
So, what’s the bottom line? Working with a trusted builder to create a realistic budget is the first step. However, exercising discipline to follow through on the budget is key!