Affordable custom built home, is it possible?

Q:

 Affordable custom built home, is it possible?

A:

Congrats! You made the decision to build your custom home. Your dream come true!
Your plans have been drawn up by your architect/designer, a builder has reviewed your plans and budget.
Unfortunately some dreams stop here. Too much house, too much money! How do you get it within an affordable budget?

Get realistic about the size and the finishes for your custom home.

Size- it is natural to plan too large- scale down to reduce construction cost. Think about the amount of rooms that you truly require and the size that you "need" them to be not "want" them to be.

Finishes-Yes , you want the best, but work with your architect/designer and builder to find alternative solutions that will work within your budget. This is one of the easiest places that you can save money. Changing the trim from a custom stained hardwood to a finely painted popular could reduce the cost of the home significantly. Down grading the finishes in the guest bathrooms and bedrooms, or the laundry room or places like the mud room or basement will help you get your custom home built without breaking the bank.

Uses-Think about what you plan to do in and around your new home, is this the house you plan to retire into? Or is this the home that you plan to raise a family? Are you married, have dogs, have enlaws that have to live with you? Remember that your building a custom home, most people live in a custom home for decades, that means that regardless of what you do with your home when it is built you will probably end up having to renovate it before you sell it decades later.

Porches, decks, patios- The size, scope, detail and finishings of these can add a lot of money to the overall cost of the home. Simplifying these can help save you 10's of thousands of dollars.

Garages-The size and shape of garages add a lot of cost to a custom home build, the more doors and the larger the foot print of the home makes it ever higher in price.

Remember- your custom dream home can be possible-be realistic-talk to your architect/designer and builder every step of the way.

Rob Abbott
Operations Manager
Village Builders Inc.

YOU GET WHAT YOU PAY FOR when it comes to construction

Everyone at one time or the other as been faced with the decision of how much they want to spend on an item. What is the right price, do I pay for the expensive one or do I only need the cheaper one. Now add hundreds of these choices together and turn them into one big project. Out of these hundreds of items which ones do I need to be the best, highest price and which are the ones that can be of lesser quality and of a reduced price. This is the dilemma that everyone has struggled with if they have ever had a house built for them or had a renovation done to there existing home.

In the home building and remodelling industry the old adage ``You get what you pay for`` never rings truer.

When reviewing bids for a project do not always take the lowest bidder. Especially if the price is significantly lower then other bids. A well run construction company pays it employee's well, pays its sub contractors well and pays all fees and taxes. It also follows all safety regulations and training regulations. That means that there is a certain price that the contractor has to charge to breakeven and then add a percentage on top to make a profit. A good contractor makes a profit, while not over charging or gouging the customer. So when reviewing bids the couple of contractors near the top of the price scale are probably the better ones to use. They will make sure the project gets completed on time and on budget. Also they will make sure that all the employee's and sub contractors get paid. The last thing you want is a sub contractor not getting paid for work he did and being forced to lean your property.

Also another way cheaper contractors can show you a lower price is using the cheapest materials. So cheapening out on certain items will lower the cost, but will cost money to replace down the road when they fail and need to be replaced. A good contractor who stands behind the warranties of all his products will want you to use the best products so that they do not have to come back in the future to do repairs that cost them money.

Its not just the durability of the product, certain products that are ultra cheap can be hazardous to your health. For example the difference between $4.00 a sq ft of bamboo flooring and the .55 cent sq ft bamboo flooring is that the cheaper one has formaldehyde in it. That's right formaldehyde, so it off gases. This is something that you do not want to be breathing in everyday of your life.

A good contractor will research these products for you so that you have all the information to make your discussion.

Another reason to do your research is that paying a little more for things like energy efficient furnaces or appliances can save you money in the future because they tend to use energy.

Using quality products that have a longer life in your home will help the resale value.

So the next time you are weighing the options of price versus quality remember the saying “YOU GET WHAT YOU PAY FOR!”

Rob Abbott

Village Builders Inc.

877-866-3202