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Top Tips to Budget for Your Custom Home Build

Top Tips to Budget for Your Custom Home Build

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At Mazzei Homes, we understand the importance of a budget before you begin the build process. This is the best way to transform your home into a beautiful place to live and enjoy for years to come. It can be easy to lose track of your budget due to uncertain factors or extenuating circumstances. Read on to discover the best tips for staying on budget for your custom home build.

Decide On Your Non-Negotiables

Before you begin construction on your custom home build, it is important to understand what your non-negotiables are. These are the features that you aren’t willing to compromise on and are included in the budget for your custom home.

A non-negotiable feature could be anything from large windows for lighting, a guest room with ensuite or polished concrete floors. Decide which features can be scaled back in regards to cost and the room that will be your main focus. Establishing a clear vision for your custom home build will help you to prioritise costs and keep from spending too much in other areas.

Over Budget

When you outline your budget, make sure you account for unexpected costs, add-ons or delays which cannot be predicted. Building a custom home can become a costly venture so it is important to be prepared for unforeseen circumstances or changes in design. Obtain a build estimate early on in the design phase.

You may also find that as construction on your new home continues, you will change your mind about materials or features that you initially decided upon. Give yourself flexibility by allotting a portion of the budget to account for extra costs.

Choose a Trusted Builder

Choosing the right builder will impact your custom home build process. A great builder will have the skills and experience to deliver your dream house and take into account your budget for your custom home. You may find that your custom home builder can provide you with better, cost-efficient materials and features. These alternatives will save you time and money down the track.

Clever architectural design and a fundamental understanding of building components will also ensure that the build process doesn’t blow out your budget. A custom home requires more than one pair of eyes to be firmly set on the costs.

Great design can also reduce the amount of wasted space that can add unnecessary construction costs. By selecting a builder with great design credentials, you can potentially reduce your overall building footprint while getting all of your functional spaces.

Be sure to research the website of your chosen custom home builder for testimonials and past projects that have been completed. This social proof will give you key insights into the reliability and level of quality that they can deliver.

Keep the Communication Flowing

A clear line of communication throughout the entire custom home build process is the hallmark of a great custom home builder. However, some builders will find it difficult to prioritise communication once construction on your home has commenced.

Ensure that you are in contact with your builder and receive regular updates. Make it clear that you would like to be notified immediately of any decisions made in regards to construction. Clear communication with your custom home builder will result in fewer errors and make sure that your new home is built to your expectations.

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Consider Tradeoffs

Staying within budget for your custom home and creating your dream house can be difficult to manage. It could come down to deciding whether you are willing to stretch your budget or reconsider your priorities. Swapping a high-end material such as marble, for cost-efficient stone is one such example.

A trade off is the best way to get the designer look for less. Shop around for similar fixtures at a range of retail stores and high-end boutiques until you find the perfect compromise. With time spent on research, you may be able to find something even better at an accessible price.

Do Your Research

Cut the costs of your custom home build by visiting display homes to experience the features that you believe are desirable in your new home. There may be more than a few features that you originally wanted that are less appealing in person.

Experiencing different home styles, layouts and furniture pieces will help you to rule out what you do and don’t want in your new home. For a more personal approach, you can also ask your family and friends for tips if they have built a custom home. As a rough guide, the cost of custom building generally sits between $15-30k per square.

A custom home owner will have plenty of ideas on how to lessen the costs, will have undertaken research and most importantly, be able to tell you about the mistakes to avoid during your custom home build. If you are looking for a custom home builder to build your dream home within your budget, contact Mazzei Homes.

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