How to Avoid Surprise Costs When Building a Custom Home
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One of the biggest things home buyers worry about is the cost of their new home. After purchasing the land, paying an architect and buying a building permit, the last thing a buyer wants to do is shell out more cash for unseen expenses. However, seemingly small changes such as buying better building materials can quickly raise the price of building a custom home. If this is your first time building a custom home and you want avoid unexpected surprises, here are some tips that can help you through the process of building a custom home.
Ask your builder for help
Coordinate the ordering, approval and installation of all building products for the home with your builder. Learn about the previous building projects the home designer has completed. If the homes are similar to your design, the builder should be able to predict any possible setbacks by studying the floor plan.
Discuss all finishing accents and building materials prior to construction
Details such as cabinetry hardware, flooring, and roof tiles, should all be agreed upon prior to beginning the construction. There may be some fluctuation in prices that can’t be avoided due to material availability, but a homebuilder with strong vendor relationships will be able to reach out to his contacts and gather that information, diminishing the possibility of an unexpected rise in cost.
Know what to expect
The best way to avoid unexpected costs is to know which ones to expect. As much as you would like to stick to the estimate, changes are bound to happen. Thus it is a good idea to set aside a slush fund to give you the flexibility to add those special touches that you may not have imagined at the beginning of your project. Communicate with your homebuilder frequently and keep track of any additional expenses.