When it comes to designing your own home, having a clear budget is incredibly important. Without a detailed budget,
you may end up overspending and digging yourself into a financial hole. The following are a few home building budget tips to keep in mind:
Determine the type of project – You’ll budget differently for a renovation or remodel than you will for a new home construction. If you’re building a new project, then you can use a per square foot cost method for budgeting. This, however, won’t work for something like a kitchen remodel.
Determine additional costs – The construction isn’t going to be the only cost. Remember that you may have to pay for legal fees, land costs, landscaping, permit costs, financing costs, architectural fees, decorating and even the cost of moving.
Know what you want – Don’t budget for a standard oven if you know that you’re going to end up wanting a high-end stove. Know what you’re going to want and budget for that.
Involve a builder early in the Design Process even if you hire the architect first. Builders know what things cost. Designing without a builder’s practical guidance is a sure way to go over budget.
These are a few tips to keep in mind when budgeting for a project. Be sure to contact us at Trilogy Partners for more information and advice concerning your home design budget.