How to Budget to Build a House

Building your own house is something to look forward to when branching off to begin a life of your own. One of the first important steps to take when planning to build your own house is to make a budget for yourself. Having a budget in place before building your house allows you the freedom to make changes when needed, knowing what you have enough money to do.

Start Budgeting Early

Plan for expenses early enough so that you can make any necessary changes before the completion of your home. Budgeting early allows you leeway in case a task ends up costing more than you originally planned. This gives you the time to obtain additional income to put toward the task or extra time to find an alternative.

Choose a Lot

Take care when choosing the location where you want to build your home. The specific lot that you are planning to use can incur additional costs if the builders have to make way for extensive drainage or major changes to the landscape such as clearing trees or blasting through rocks. If the lot doesn't have city water and sewer hook-ups at the street, you'll also have to shell out money for a well and a septic system.

Find a Floor Plan

Decide on a floor plan that fits well with your needs. When deciding how to build your actual home, take into account the fact that abnormal shapes, such as that of a triangle or anything other than a square or rectangle, are going to cost more in terms of labor and materials. Choose simple structures for inside and outside of your home.

Choose a size that provides you ample space to live but is not too large. This has an effect on your pocket both during the building process as well as afterward. Make your house large enough to where it provides you with livable space, but not so large that it will cost additional money for materials and additional money afterward to maintain. Even costs for heating and electric can be affected in larger homes.

Plan Interior Design

Map out your preference for how you want the interior of your home to be designed. Other than the walls and flooring of your home, you also have cabinetry to consider when planning a budget to build your home. The walls are the least expensive item in your home; decide the paint colors you want on your walls. Determine what kind of flooring you want and consider laminate instead of hardwood flooring to save a few more dollars. For cabinetry, instead of using expensive, rich wood, choose lacquer or stainless steel cabinets for a sleek look.

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