You’ve made one important decision already: To build a new Southern Maryland home rather than buying an existing one. Congratulations! It’s exciting to buy a home that is built and tailored to your specific needs and tastes.
But anyone who has ever built a brand-new home will tell you that the actual cost of the house rarely sticks to the budget set out when the project begins. Unexpected problems, changes, and fluctuations in the construction market can increase the cost of your dream home.
How can you stick to your budget? If you’re worried that you might blow the budget for your brand-new home, you’ll want to read the seven tips shared by the experts at Freshome recently.
Tops on the list?
Planning.
Before the project begins, Freshome writer Jae Curtis recommends, you should create a categorized list of all of the costs of building your new home. This will help you see all of the costs involved and allow you to see better where your money is being spent.
Next, build a contingency fund into your budget. It is rare for new home construction to go off without a hitch. The general rule of thumb is to multiply the number given to you by your contractor by 1.5. This gives you a buffer to pay for the unexpected.
Is there room for splurging? Yes! Freshome says you should choose carefully which features you should spend a little more on, encouraging a focus on functionality.
Ready to build a Southern Maryland home? Contact me to get the process started, and read the entire Freshome article here.
La Plata MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309
