Building a luxury home is one of the most exciting experiences those fortunate enough get to go through. It’s a beautiful process to see a vision go from dream to reality. Homeowners get to use their creativity and inspiration to create their ideal home. Here are some simple ways to ensure you’re being efficient with your home build expenditures.
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Take it Slow On the Design Phase
The design phase can be the most exciting part of the home building process. It’s easy to get carried away with the excitement of having a custom home! This is where some people lose their footing and get carried away with additions and finishes that they didn’t originally plan for. While we’re happy to accommodate changes and additions, we always communicate the impact of different finishes (such as stair railings, cabinetry, and doorknobs) to our clients before proceeding to ensure there’s no miscommunication or unexpected surprises.
Your imagination can be your worst enemy when it comes to building a custom home. It’s very easy to over-design a new home, and that’s why our design team is here to help ensure you’re on-budget and staying style-conscious.
We always suggest that clients be tactful with design decisions. This helps you to stay within your expected budget, and often helps homes remain ageless longer.
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Understand Construction Allowances
When you do not know the exact price of something, it is helpful to make an educated guess to set a realistic expectation. This practice is known as a construction allowance. Here at Homes By Hendriks, we make every effort to exceed expectations and be clear in communications. Understanding a construction allowance gives you an approximate window to allow for changes in the cost of materials such as lumber, windows, and beyond.
There are two types of construction allowances: material and installation.
Material is the actual cost of the material it takes to make up your home. Construction allowances are the amount of money that any given material will cost to make up your new home. These allowances will vary depending on the location of your home, the size of your home, and the material itself.
Installation allows contractors to set up different fixtures within your home. This includes electrical outlets, faucets, sinks, and much more.
The best thing to do is to know about these allowances to have a realistic expectation of what your new home will cost, and we’ll help you understand that every step of the way!
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Keep Change Orders to a Minimum
Change orders are not a bad thing, and sometimes it’s hard to know exactly what you want until you see a build coming together. Most often, changes do involve changing your expenditures, so this is something to be mindful of.
Change orders can even be very helpful when it comes to homebuilding. They are a great way to ensure you get what you want with your new home. However, it’s very easy to go overboard with change orders. We always suggest communicating with our team along the way to ensure you’re happy with the final product, within your budget, and feeling magnificent in your new luxury home build.
The Bottom Line
Following these tips is a great way to ensure your expectations are met from design to dollars.
Are you looking for trustworthy luxury home builders in the Niagara Region? Homes By Hendriks is the Region’s top luxury builder with the portfolio to prove it. Contact us today to start planning your unique project with our experts.