Wednesday, July 3, 2013

Three Tips For Saving Money When You’re Planning To Build A New Home



There are a lot of Tennessee residents who want Custom Smart Homes[BL1]  to build their new home, but feel like they don't have the money to make it work within their budget.  We provide our clients with a list of financial resources that may be able to help them pay for their new home, but there are some things you can do during the planning process that can save you a lot of money on home building costs.

Look At "Problem Lots"

Everybody wants to build their house on a flat stretch of land, but if you build your home near a hillside or fill-in property you may be able to save a lot of money on land costs.  Generally lots that aren't "ideal" (near/on a hillside, fill-in lots, narrow lots, etc) cost a lot more than others, and if you choose a lot that's on the off-beaten path you can save a considerable amount of money.

Go For Lots Or Land A Little Further From The Town Center

Some people have always dreamed of owning a waterfront property, but property that's right near a lake or river can be expensive.  If you've always wanted to live close to the water choose a lot that's a little further from a town center.  You'll still be near water, but you won't have to pay for lakefront property prices at a premium. 

Build With The Neighborhood In Mind

You've always wanted a home that could double as a mansion, but building your mini-mansion in a neighborhood full of mid-sized homes could hurt you in the future.  You may think that having a big home in a neighborhood full of smaller homes could boost its value if you sell it in the future, but doing that will actually have the opposite effect.  The value of your home will depend more on the homes around it than the home itself, and your resale price won't be anywhere near as much as you'd think it would be.


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