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Do you know your actual budget?

Know your actual budget

Once you decide to invest in building a brand new home, it is critical that you know what you can afford to spend. After determining your budget, inform your draftsperson so they can design within that limit. Failure to inform your draftsperson may result in wasting a lot of your time and money creating a design that exceeds your budget.

To avoid heartache and wasting your hard-earned dollars, engage the services of a professional builder early in the design stage. During this phase, the builder can guide you and the draftsperson towards a design that will suit both your lifestyle and your budget. Contrary to what some people think, you will not pay more for a home just because you disclose a larger budget.

Keep in mind that, at this early stage of the building process, you are not negotiating price.

Candid discussion of your budget with the builder and designer at the commencement of the project prevents miscommunication and mistaken assumptions. They can and will tell you whether your budget and dreams match.

If you discover that the size and quality of your home will not meet your budget expectations, a professional builder is able to make recommendations on how to reduce costs based on your priorities. They achieve this through careful planning and practical design strategies.

Keep in mind that a professional builder builds homes every day – this is what they know. The builder has a clear and accurate understanding of how much building a home actually costs, which is why it is so important to engage their services early on during the design stage of your new home.

If you are so fortunate as to not be restricted by a limited budget, focus the design of your new home on lifestyle and the quality of the finishes and inclusions.

If budget is your number one priority, limiting the overall size of the home along with the architectural features of the design helps to control costs early.

To make sure you get the best outcome when designing your home within a budget, find a builder who is able to support you at this early stage of the process.

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