You are finally ready to build that custom home you have always dreamed about but can’t stop thinking, “How much is this really going to cost me?” Well, you are in luck! We have gathered the top 3 reasons why people go over budget on their custom homes.
- Upgrades. If this will be your forever home, you do not want to skimp on upgrades. It is best to build extra money into your budget ahead of time; that way, upgrades are a planned expense and won’t put you in the red. Common upgrades in custom homes include cabinets, countertops, flooring, expanded showers, attic storage, sliding glass doors, upgraded appliances, extra electrical outlets, adding a sink to the laundry room, and upgraded door hardware.
- Unforeseen location costs. Be sure to do your research on your property and location before you begin your build. A quality homebuilder will help with this research ahead of time. Common location costs can include grading, leveling, excavating, debris removal, deconstructing existing structures, tree removal and more. Custom homes often include a customized lot and location; plan accordingly in your budget.
- Lack of Communication. The biggest cause of going over budget when building custom homes is lack of communication. You want to find a builder who is upfront about how much everything will cost, provides accurate estimates, and goes the extra mile by foreseeing what some may deem as an “unforeseen expense”.
To avoid these problems, make sure you choose a custom home builder who will communicate, keep you on budget, and put pride and craftsmanship into building your dream custom home.