Are you ready to get started on your new home or renovation, but nervous about horror stories of cost overruns? The solution is to select a trusted building partner and allow sufficient time to develop a solid plan before work begins. Here are six tips that we share with our homeowners to keep their projects within budget:
Establish a budget
When designing your new home or renovation, it is tempting to include every element of your ultimate Dream Home just to “see what it will cost.” This approach generally puts you in the unfortunate position of removing elements that are now firmly entrenched in your mind’s eye. Alternatively, establish a realistic budget early, and communicate it to your building partner. This allows the development of layouts and specifications that accomplish your goals without breaking the bank.
Select a building partner
The input of a builder throughout the design process can add significant value. The design/build process eliminates expensive structural elements, unnecessary field labor and inappropriate materials long before they make their way into the plan set.
Consider the total cost to build
While it is easy to focus only on the cost to build the house or addition as a stand-alone entity, the true cost to build includes many items that can blow up a budget if not considered early on. Utility connections, trees in the building envelope, lot topography, permits, portable toilets, landscaping – these are all items that should be budgeted prior to ever putting a shovel in the ground.
Build up instead of out
The cost of homes with equal amounts of living space can vary dramatically based on their configuration. A 4,000 square foot ranch house has a foundation and roof area that is twice the size of a home with 2,000 square feet split between two levels. Considering this early in the design process will keep costs in check from the start.
Use standard sizes
Seemingly minor design details help contain costs when it is time to assemble the budget. Custom windows add visual interest – but are significantly more expensive than standard sizes. You can achieve the same impact with thoughtful window placement or enhanced trim details. Design spaces that utilize materials without the need for additional modifications. Every board or sheet that is cut results in extra labor, wasted material and additional disposal costs.
Upgrade for impact
Selectively upgrading fixtures and hardware is more economical than upgrading across the board. The majority of your time – whether entertaining or at home alone – will be spent in a subset of rooms. Upgrading a few key lights, plumbing fixtures or cabinets in these areas will raise the perceived value of your entire home.
Bailey & Weiler Design/Build specializes in the design, construction and renovation of custom homes. Learn about their integrated design and construction process, and gather new ideas, by visiting their website at www.Bailey-Weiler.com. Arrange your personal consultation by calling Craig Bailey and Don Weiler at (812) 330-1169.
[PHOTO: Bailey & Weiler Design/Build]
