How to Save Money in Constructing a New House
Before, getting banks loans were so easy in such as way that constructing large houses was the trend. Today, banks are more likely to not lend money because of the premium costs related with new construction.
There are ways you can keep your financial plan down on building a new home so that banks could possibly fund your project. Here are five techniques on saving money for new home construction.
1. Square Footage
Every square foot you add is going to cost money on your property. It influences every element of the construction from the foundation all the way to finishing touches. Start from floor plan and evaluate each room and see if you can resize them and keep the functionality. By removing 2 feet of length to simple 30 foot wide you can save 60 sq. feet times an average cost of over $150 equals to $9000. It pays for over a half of your flooring.
2. Home Style
The idea of 2-story house is usually effective. A colonial 2-story house and a single level farm house that both have 2500 sq. ft. sometimes perceived as equal and has the same prize. This is wrong because the latter’s roof and foundation sizes are twice the size of the former’s. This is a good example that can save you up to $20,000 yet the same livable space.
3. Underground Garage
As an alternative of an attached garage, you save a huge amount of money if your property area allows you to have a garage under. Your basement as garage can save you up to $25,000. But this choice won’t work well for level lots or part of the country that develops property on flat slabs but it’s still a good money saving idea.
4. Manual Work
Ask a developer if there are any easy and safe construction project that you could do to lessen the expenses. Several customers decide to do their own task like painting the wall, etc and these could save them from a few thousand dollars.
- Get Rebate from Energy Efficient Appliances
Consider using energy saving appliances like Energy Star. By using some of these products you may be eligible for a significant government tax that can help balance out some of your construction expenses. Some banks are figuring out new technologies such as geothermal heat or solar panels. So they may be less likely to finance these types of items.
