Dreaming of building a new home, but worried about the expense? Long before you draw up the final plans, it pays to do some “guesstimating.” Knowing how much the project might cost will help you modify your plans to meet your budget.

7 Tips To Lower Home Construction Costs…

1. Contact Local Builders: talk with several custom builders in the geographical area in which you plan to build to get a rough idea of what it may cost to build your house. Builders can give you a range of costs with the associated quality/features. If you are serious about building and feel comfortable with a particular builder, consider having the builder work up some more detailed plans and an estimate of costs as part of a design-build process.

2. Start With Plan The Builder Has Used Before: It may be to your advantage to start with a plan that the builder has used before and “customize” it to suit your objectives. The builder already knows how much it cost to build and what it took to build that particular model.

3.Standardize The Size of Home: When building a home, it’s best to work with even numbers. Have your home size rounded up or down to increments of two feet. This reduces wasted materials. Also, it’s most economical to build a home which is no deeper than 32 feet. If the depth exceeds 32 feet, then your roof trusses may need to be specially designed and will be more expensive.

4. Some Features Cost More: The most expensive areas in a home are usually the bathrooms and kitchen. The number of windows and the size and quality of windows can also affect the cost. Vaulted ceilings and high roof pitches can increase the cost of a home. When using other homes to calculate an estimate, be sure the home has a similar style and features of the home you plan to build.

5.Shape of Home: Homes that have a rectangular or box shape cost less to build. Having more angles and corners in the shape of your home can increase the amount of labour and materials needed to build a home. Dome shaped homes also make efficient use of materials and tend to cost less than other shapes.

6.Chose A Relatively Flat Lot: Preparing a site for construction can have a big impact on the cost of a home. Building on a flat lot will usually cost less. If you have to haul in lots of dirt, do a lot of grading, clear trees, or blast through large rocks, then site preparations can become more expensive.

7.Careful Planning: Usually the finished cost of a home is more then the original bid price. Cost overruns occur from overspending the allowances, making changes and encountering unforeseen problems. Proper planning can greatly reduce cost overruns. Builders love change orders and it is so critical that you have as few of these as possible which means that your specifications must be as detailed as possible. In general, it is a good idea to allow an additional 10% to cover unexpected costs.


Courtesy of: http://www.icfhome.ca/