Home Building Cost Savings Techniques
Building a custom home is an exciting process - but for some, it can also be overwhelming and costly. A quick trip to Pinterest or Houzz can quickly turn into a months-long process and leave even the best of us, confused.
Many of us wonder where’s the best place to start looking for a contractor, what items can you complete on your own in the build process, what items will you need help with, and most importantly, what are some home building cost savings techniques that can save you money?
At Lincoln Construction, we’re proud of not only being experts at building custom homes but also at advising our clients on cost-saving options that can ultimately make or break their build. We understand that not everyone has an unlimited budget to spend and therefore we strive to work with our clients where they’re at, to help create their dream home - without breaking the bank.
The following are our top 10 tips on home building cost savings techniques that you can employ throughout your custom home building journey - to ensure that your project stays on track, and on budget.
Top 10 Tips for Home Building Cost Savings Techniques
#1 - Get multiple quotes
When you’re shopping around for a contractor to build your custom home, it’s very important that you get multiple quotes. This is not only because you’ll likely receive a wide range of prices, but also because some builders will be willing to work with or under your budget - while others will price well above it.
With that said, you also need to keep in mind that the cheapest option, more often than not, isn’t the best option. If you receive a quote that’s significantly lower than all the rest of the quotes you’ve received, take a good look at why. If the materials are cheap, or they’re underpaying their workers, they’re likely someone that you won’t want to work with. Be sure to also compare what is actually included, as some quoted projects may vary in technique and material ( ex. one quote may include a less expensive foundation that may not last as long)
Many builders will provide you with a free, no-obligation quote, so don’t be afraid to ask!
#2 - Choose your contractor wisely
If you’ve already started doing research, you’ve probably noticed that there’s a lot of contractors to choose from. It’s important that you understand what type of home you’re hoping to build and then source contractors who have experience in that particular niche. For example, if you’re hoping to build a remote island build, choosing a contractor like Lincoln Construction would be an excellent choice as that’s something we have experience in!
Once you’ve found a few contractors who you’re happy with and received quotes from them, it’s very important that you also check their references and online reviews! You’ll be looking for a number of things, including:
Have their previous projects been more or less on time and on budget?
What subcontractors do they work with? Do they also have good reviews?
What challenges, if any, happened during their other builds? How did they manage those challenges?
How is the experience of working with them rated overall and do they come highly recommended?
Once you have a better idea of what each of your shortlisted contractors will be like to work with, and how they’ll manage any budget constraints or challenges, you should be able to make an informed choice that will likely save you money in the long run.
#3- Open floor plan
Our number three tip is one of our absolute favourites as it’s an easy way to stay on or under your budget, without having to sacrifice space. When requesting a quote from your contractor, ask for an open floor plan that combines multiple rooms into one! If you’re building fewer walls, that also means fewer materials, wiring, and plumbing - something that will most certainly save you some money!
The other benefit of having an open floor plan is that you and your family can be doing different things in different spaces, yet still, be together. Some of the most popular open floor plans we’ve seen combine the kitchen, living, and dining rooms into one, but really, if you can dream it, your contractor should be able to build it!
#4- Invest some sweat equity
There’s no easier way to save money on your custom home than to invest some of your own time and labour into the build. This of course will depend on how much extra time you and your family members (or friends?) have, but it’s definitely a very popular way to save money on your custom home build.
While most of us aren’t skilled plumbers or electricians, there are many things that the majority of us can do, including:
Painting - you can paint the majority of your home yourself and leave the roof and harder to reach spots for your contractors
Installing kitchen and cabinet handles - this seems like an easy one, but you’ll likely save quite a bit by doing this yourself
Putting together your kitchen yourself - depending on the set-up, this is something that you and your family should be able to do quite easily
Hanging mirrors and light fixtures - leaving the wiring to your contractors, and hang your mirrors and light fixtures yourself
Shopping online for things like lighting - you’d be surprised how much money you can save by sourcing things yourself. Also keep in mind to look for wholesale, on sale, and free shipping items - as mentioned in another one of our tips
#6 - Build an eco-friendly home
Contrary to popular belief, building an eco-friendly home can actually save you lots of money, not just in the build itself, but for years afterward!
We’ve actually written a blog post on how cost-effective two of our favourite types of eco-friendly builds, net-zero and passive homes can be, but to summarize the savings that are possible here’s an idea:
Financial incentives - there are a number of green building financial incentives available to those who choose to build or live in a passive or net-zero home, making building or living in one a wallet-friendly investment
Superior insulation quality - passive and net-zero homes facilitate keeping the warm air in during the winter and keeping it out during the summer, ensuring that your entire family is comfortable and has lower energy bills, no matter what climate you live in
Investment value - net-zero and passive homes are and will continue to be trending - so your investment will be very attractive to prospective buyers that don’t want to undergo the process themselves but want to reap the financial and ecological benefits of living in one
#7 - Building at the right time of year
This is a tip that often isn’t talked about, but will definitely save you some money depending on how flexible you are. In locations that experience four seasons, the late fall or early spring are typically the best times to have a home built.
This is because it’s shoulder season for many contractors, meaning that they’ll have much more availability than they would during the busy summer season - when they can quite literally pick and choose which projects they’d like to take on.
Just keep in mind that this rule won’t apply to all climates or all contractors, but it’s definitely worth exploring if you’re trying to stretch your budget as far as possible.
#8 - Wholesale instead of retail
If you’ve ever purchased anything wholesale, you’ll know that it’s typically 20-30% cheaper than retail, sometimes even more! The same rule applies when you’re shopping for items for your custom home.
You can source a number of different wholesalers online who will have a plethora of products for you to choose from. Sometimes there’s a bit of DIY needed when you receive the items, but the savings will still far outweigh paying retail!
If you absolutely must buy something retail, search online for coupons, and if you’re stuck between two similarly priced options, always go with the option that offers free shipping.
#9 - Recycle materials
Did you know that the average custom home build results in over 8,000 pounds of unwanted waste materials? You’ll find that as your build progresses, there will be a lot of ‘waste’ materials in the reject pile that is actually salvageable and useful for other areas of your home!
Most importantly, not only will you be saving money but you’ll also be helping to reduce your carbon footprint - something that we can all appreciate!
Here are some creative ways you might be able to reuse ‘waste’ products in your home build:
Unused lumber as shelving
Old glass can be made into new windows
Concrete can be broken down and used as a base for driveways
Metals can be melted and reformed into something new
Untreated timber can be used as firewood or repurposed into the home
Repurposing old roofing as terra cotta or slate tiling
You can also ask your builder if there are any waste items leftover from another one of their builds, that were headed for the landfill. They’ll likely be very happy you asked.
For further reading on this topic, check out this amazing PDF from the City of Vancouver that discusses reusing home construction materials in depth.
#10 - Visit other homes and do research online
The last home building cost-saving tip we recommend is to visit other builds and do your research online. There’s an unlimited amount of articles and websites where people talk about how they saved money in their build, so you’re sure to find some inspiration! Some websites that we recommend taking a look at are:
Pinterest - you’ll find a little bit of everything on Pinterest, including some inspiration on materials that have been reused in home builds, in case our article above has inspired you
Houzz - a great site to browse for inspiration on home design, decorating, and remodeling ideas
Homestars - with over 131 home improvement provider categories to choose from, you’ll likely find a number of inspiring designs and ideas on this site
Better Homes and Gardens Home Plans - this site offers a wide variety of custom home design plans that fit a number of budgets
Architectural Designs - a great site that has a number of architect and designers plans for a variety of different types of homes, including eco-friendly
Freshome - this is a great resource site that will link you to thousands of other blogs and websites to get your creative juices flowing
Builder House Plans - a wonderful site that has a number of customizable filter options to efficiently sort through their plethora of designs
House Plans Co - an excellent array of suburban and rural building ideas for those of you that are planning on a build outside of the city limits
Above and beyond these options, we highly recommend that you drive around your neighbourhood and surrounding areas and check out some current builds.
Another great option is to visit some local model homes and ask to see their upgrade packages so you can get an idea of the cost of specific materials before you source a contractor.
Next Steps in your Custom Home Build
Now that you know a bit more about the various ways that you can save money on your next custom home build along with some tangible examples that have probably got you excited, the next step in the process is to find a custom home builder in your area.
The team at Lincoln Construction builds beautiful custom homes and commercial buildings, servicing the Sunshine Coast, BC as well as providing remote builds to some of the surrounding islands.
When you work with us, you’ll get a team of dedicated individuals with a collective vision of quality construction and high-performance building practices. We have a love of the innovative, the unique, and of course, helping our clients make decisions that will help them stay on track and on budget.
We’d absolutely love to be considered as an option in your search for a custom home builder and would be happy to discuss your options with you through our free, no-obligation, consultation. Please reach out to us today and we look forward to working with you!