The Top Ten Ways to Save Money When Buying a New Home

New homes are made from the same things that make up the largest dreams. They can be the physical manifestation of the perfect abode that you’ve dreamed about since you were young.
The problem is that they can have an equally large price tag.

Below are 10 ways you can save when building that new dream home.

1. Choose a Problem Home
New homes aren’t always perfect. They may have minor imperfections that can save you large amounts of money. Choose these homes to save, as you can generally always fix problems later.

2. Utilize Recycled Materials
Beautiful homes can be made from the parts of predecessors on a lot. In doing so, they may also be considerably cheaper due to the fact that they don’t require brand new materials. Buy homes that employ recycled granite, tiles and other materials to save money.

3. Buy a Larger Lot
Appealing properties tend to have large lots that may be too big for your home and most sellers won’t split lots. If this is the case, try to buy a larger lot with someone else to split the costs and the lot.

4. Opt for Efficiency
While energy efficiency generally requires you to invest slightly more money in a new home, you’ll reap the benefits sooner rather than later when you begin living in your new home. Always opt for energy efficiency for long-term savings.

5. Purchase Only Necessities
You should look at your new home as the framework for your dream abode. You can save money by only purchasing the necessities now and adding the features you want later with the help of something like Alair Homes who specialize in major renovations in Red Deer.

6. Avoid Unnecessary Foundation Depth
When your home is more than 32 feet deep, you may require structures like iron trusses to keep the land stable. These can become incredibly expensive, which is why you should generally try to avoid homes that have them when you’re worried about the price of your home.

7. Consider Vinyl Floors
Ceramic tile and hardwoods floors cost a pretty penny to install, which is why you can save some money by opting for vinyl floors.

Vinyl floors make for good underlayment, which means that it’s fairly easy to install the floors you want when you have the money.

8. Utilize Certified Contractors
While cheaper labor may seem better, cutting corners can lead to issues with your home that are costly to fix later. That’s why it’s generally a good idea to purchase the services of a contractor you can trust to prevent extra costs from appearing before your home is inspected for code requirements.

9. Opt for Stock Homes
In the construction of new homes, there are two types of homes: ones made from custom plans and ones made from stock plans.
The latter are considerably cheaper to build because of the simplified process involved. You can save money by opting for a new home that’s made from stock blueprints.

10. Slim Down on the Extras
Carefully consider what extras your new home needs. Does it require a second or third garage? Can you survive with just one or two carports instead? Slimming down on the extras can save you a large amount of money.

Crafting Your Dream Home Doesn’t Have to Cost a Fortune
The most important thing to remember about your new home is that it doesn’t have to be perfect from the start. You’ll have plenty of time to alter it, to change it, and to craft it into the home of your dreams as time passes.

By allowing for some savings early in the life of your new home, you can dramatically cut the expenses to make your home more affordable while being just as friendly to call home.

Tags: Buying a New Home, Dream Home

Category: Housing