How to save money when building a new home
Housing affordability in Sydney has been a hot topic! Anyone who has been looking to buy or build will know’s the feeling. It’s not hard to stretch the budget to maximum capacity. If you are building a new home, there are some simple things that you can do to fit your dream home in your dream budget.
Choose your land wisely!
Pay attention to the block of land that you’re looking to purchase. If the price is cheaper than others in the estate then it is probably for a reason. Some of the things that will impact your home price later down the track include:
- BAL Rating
- Retaining walls
- Soil Classification
- Lot shape
Developers are likely to reduce the land price if the lot contains one of these features. The reason that they do this is because they know that when the home is eventually built, there will be additional works/materials/inclusions required in order for the application to be approved.
What do I do if I want to build a custom design?
If you have an oddly shaped block or if you have your own ideas for your new home then there are ways that you can save by building a custom.
- Keep the dwelling as close to a rectangle shape as possible. The more simple the building line, the cheaper the build.
- If you’re building a double storey home, keep the second storey in line with the ground floor. Making sure that there are supporting walls below your first floor can save you thousands on beams and other structural support.
- Think about the placement of your wet areas. When all of your wet areas are strategically placed closely together, fewer pipes are required. Simple but it will save you money.
Leave stuff for after handover
Turn key packages can be super convenient but things like landscaping do add significant cost. Plants, pebbles and grass definitely add that finishing touch to the outside of your home. However, you home is still perfectly functional without this stuff on the outside.
If you’re tight on budget, consider leaving the landscaping until after handover. It’s even worth considering getting in touch with your green thumb and working on your lawns and garden over time on the weekends. Doing it yourself will save heaps of money (and might even turn out to be a fun family activity)!
Don’t forget to talk to your builder. Your builder will be able to highlight where any added cost is coming from and should also be able to suggest how to bring the cost down (even just a little bit).