Everyone wants to be optimistic when planning for their dream home, but matters can get out of hand when it comes to custom home cost. We detail why you need to extensively budget and consider every possibility during the design process for your custom home.
Make a List of Non-Negotiables
The whole point of custom home building is creating the perfect environment for you and your family. When budgeting for custom home cost, it pays to make a list of features that you will not compromise on. Every new builder has plans they absolutely love, and plans they are not 100 per cent sold on as construction gets nearer.
Once you have a list of features that you cannot do without, consider a few trade-offs in case of budget problems. You might considering substituting for a cheaper material for benchtops – it may be a little disappointing making trade-offs like this, but they won’t have a significant impact on your enjoyment of your new home.
Consider Additional Costs, Such as Flooring and Driveways
Depending on who you choose as a custom builder, flooring is often not included in the total cost of building your home. Like any major home undertaking, it is easy to underestimate the total cost of carpeting or tiling your entire home, so make sure you factor this into your custom home cost estimates.
Driveways are also often excluded from total budgets, and the cost of building a functional and practical driveway can exceed expectations. Cheaper options are available, but they often do not fit with the aesthetic of your home – it pays to get multiple estimates for driveway cost during the planning phase.
Remember Soil Testing and Site Costs
People planning their first custom home often consider soil testing to be a formality, but it can cause unforeseen financial problems. If soil quality is worse than expected, the builder may need to bring in extra help or use extra hours to mitigate the problem.
Poor soil quality may force changes to agreed-upon plans, meaning you may have to cut down trees or move the planned location of the house. In this case, connecting electricity, gas and water may prove to be more expensive than you planned.
Expect the Unexpected
It goes without saying that you should not spend beyond your means on your custom home, but it is imperative that you have a little money in reserve for unexpected circumstances. Even the most professional builders can be impaired by weather delays, material problems, personnel issues or a number of other problems that can result in a project coming in late or over-budget.
Having a little extra in your budget grants you the flexibility to make minor changes during the construction process that won’t hurt your finances down the track.
Custom Home Designs from Homes By CMA
Designing your first custom home should be an exciting time, and Homes by CMA believe in the importance of strong communication between both parties during the entire process. Our experienced team will consider your total custom home cost and work with you to achieve an outcome that exceeds all expectations.< Back to News