How to Budget for a New House Construction Project
Building a new house offers the opportunity to customize it exactly to your preferences. While this can add to the cost of construction, it also means that you will have a one-of-a-kind home that is uniquely yours. Before you get started, however, you will need to have a full understanding of the costs involved. Here are a few things to keep in mind when budgeting for the cost of your dream home.
1. Select a design professional. Depending on the scope of your project, you may need to hire an architect or a designer. Licensed architects and draftspeople can help you create a preliminary schematic design, which typically includes a front view of the house, a floor plan, basic dimensions, and material selections. They can also help you obtain the necessary permits and impact fees. They can work with you to create a budget and help you find ways to save money on the project.
2. Lay foundation components. This step can take up to a month or more, depending on weather and ground conditions. Once the foundation is poured and has time to cure, a city inspector will visit the site to ensure that all of the elements are up to code. During this time, contractors will also install storm drain pipes and sewer lines, and start to run electric wires through the walls and ceilings. Bathtubs and one-piece shower/tub units are often installed at this point, as well as the furnace ductwork.
3. Frame the house. Once the foundation and drainage are complete, framing is the next major step in construction. It can take up to two months or more to construct the skeleton of the home, depending on the size and complexity. Once the joists and rafters are in place, roof shingles can be placed, and insulation is added. Once the walls are framed and the insulation is in place, contractors can install the windows and doors.
4. Finish the interior. Once the exterior of the house is completed, the finishing touches can be put in place. This can include painting, wallpapering, cabinet installation, and more. Typically, this is a much shorter phase in the process, as it is a relatively simple part of the overall project.
5. Landscape the site. Finally, landscaping can be finished on the site, adding to the beauty of your home and completing the picture. Whether you choose to plant trees and shrubs, or simply add a few decorative items around the home, it can make a huge difference in how your property looks.
Upgrading your home can be a great way to add value, or simply to improve the quality of your life. There are a wide range of projects to suit all budgets and levels of skill, and many can be done on your own without the need for a contractor. The key to a successful project is planning, and making sure that you know how long each phase will take before it is finished. This will help you to estimate the cost of your new home, and avoid any surprises along the way.
