Ways to save money when building a home include carefully choosing an accessible building site that requires few modifications and looking for salvaged or recycled building materials. It also helps to keep the home a standard size and to check for tax credits or rebates for certain types of home construction.Continue Reading
Choosing a building site carefully avoids costly modifications such as grading. A lot that needs dirt filled in or rock blasting can quickly cause price overruns. In addition, taking time to scour demolition sites often yields building materials at a low cost. Often, owners give these used materials away if the new owner hauls them at her own expense.
Keeping the ceiling below 32 feet in the new home often saves costs when building because a home that is less than 32 feet deep usually doesn't require customized roof trusses. In general, choosing from stock building plans instead of customizing helps cut down on the overall cost. It also helps to avoid excessive changes during the building process because these changes often raise the total cost.
Builders using certain types of construction might be able to take advantage of tax credits. For example, some appliances afford the buyer valuable tax credits that reduce the overall building cost. Even thermostats and eco-friendly building materials can bring desirable cost savings in the form of rebates or tax benefits. In addition, mortgage and construction loan rates vary, so it often saves costs to shop around before signing a loan.Learn more about Household Budgets