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| Before You Build
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There are numerous ways to save money on a new home building project. For starters, your initial design can be done with cost savings in mind. There are three crucial factors that can add cost to a typical home construction project:
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- The number of windows and doors
- The amount of roof (type, steepness, etc...)
- Wall height (is it 8, 9 or 10 feet tall?)
Here are a few items to keep in mind that will save you money:
- Two story homes are always less expensive to build than one story homes, per square foot, on average
- Gable roof lines are less expensive then hip roofs
- Round top windows are twice the cost then conventional square windows. PVC (vinyl) windows are less expensive than wood/metal clad
- Vaulted ceilings with 8 foot standard wall heights should be less expensive than going with 9 or 10 foot ceilings.
Additionally, the cost per square foot is often higher for a smaller home than that of a large one. When building a larger home, the cost of expensive items, such as a furnace or kitchen, is spread over more square footage. Consequently, a larger home may have a lower square footage cost than a smaller home. The reason it usually costs less to build a two-story home as compared to a one-story home of the same square footage is because a two-story home will have a smaller roof and foundation. Other factors, such as plumbing and ventilation, are also more compact in a two-story home.
Small details in the design of your home can make a big difference in the price. To save on costs, start by estimating construction expenses before you select your final blueprints.
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Here are some important factors to consider:
Size of Home
When building a home, it is 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.
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 labor and materials needed to build a home.
Site Preparation
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.
Cost Overruns
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. In general, it is a good idea to allow an additional 10% to cover unexpected costs.
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