Building a custom home is a journey unlike any other. You will learn a variety of things including when to save or splurge. Along the way, you may find there are plenty of opportunities to cut down on costs without sacrificing the quality of your home. To help you get the most out of building a custom home—including the most savings—you need to know how to navigate each step of the process. With that in mind, we’re sharing five simple ways to save a few extra dollars during the planning and building process. Check them out below!

1. Do Your Research

It may sound pretty generic, but research is a must when planning to build a custom home. It helps you identify what kind of builder to work with, where to build, and what kind of home and finishes you’d like to have. In addition to browsing the internet and Pinterest, take some time to look at model homes in your area to get a better idea of your likes and dislikes. The more ideas you have, the easier it will be to design your dream home.

2. Make a Realistic Budget

Once you’ve done your research, it’s time to create a budget. When establishing a budget, it’s crucial to be realistic. Settling on a number that’s too low can lead to a lot of heartache because you may have to sacrifice features you love. The good news is that your research should have helped you figure out what kind of budget suits your project. After setting a budget, make sure to keep that final number in mind when making selections. Here are a few helpful ways to keep you on track:

  • Identify your monthly spending budget for home-related expenses
  • Keep all of your receipts
  • Track costs in a spreadsheet
  • Use an app like Mint to track your home building expenses

3. Establish Open Communication With Your Builder

Transparency and open communication are a must when building a custom home, and it’s vital to establish it from the start. Doing so eliminates the risk of surprises down the road, and ensures everyone is on the same page throughout the project. Before committing to a custom home builder, set up a few meetings to vet their qualifications, and be sure to check their references to get a feel for their work style. Knowing you’ve hired a builder that’s willing to follow your lead can help everything run smoothly. Your builder can also offer input on where you can find savings based on what home features are most important to you and the ones that are not.

4. Shop Around

When selecting finishes like appliances, take the time to shop around and compare prices from store to store. Be open to visiting both high-end and discount or wholesale stores to see where you can find savings. The end of season is also a great time to shop for appliances, as many stores will offer extra savings and discounts. October and September tend to be one of the best times to shop for appliances because manufacturers are about to release the latest models.

Another thing to keep in mind is that builders can often get items at a discounted or wholesale price, which offers a huge advantage during the custom home building process. Don’t be afraid to ask if your builder has a discount so you don’t miss out on extra savings. Another option is to ask for a small 5-10% discount at certain stores, though you may not have much luck with that.

5. Keep the Big Picture In Mind

Building a home from scratch can be stressful, especially when you’re counting every penny. While it’s important to stick to your budget as much as possible, it is just as essential to not get too hung up on the small details. At the end of the day, those things often don’t make a significant impact on your bottom line. The key to a successful home building project is to be flexible in your decisions and choices. The more easy-going you are, the faster your home will be finished, which can save you a pretty penny on labor. That being said, don’t feel rushed to make a decision. After all, building a home is a big investment. Just be sure to keep the big picture—your finished home—at the forefront of your mind.

At Ironwood Custom Builders, we’re firm believers that building a custom home or planning a remodel doesn’t have to be a stressful experience. It also doesn’t have to cost an arm and a leg! By following the tips above, you can save money on your project and still end up with the home of your dreams. To find out how we can help you make those dreams a reality, get in touch with our team.