Decision making time and your home building budget

This is where you set the stage for many aspects of your new home and your home building budget.

Your home building budget will determine how big a home, what style you can build, what extras you can add to your home and how much of the work you should do yourself.

The more work you can do yourself the more you can add to your home in extras and in size.

This could mean you could have that expensive bathroom you have been dreaming about or maybe the upgrade to hardwood flooring - the list goes on.

After all, what you don't have to pay out to someone else you can put into your home.

When I decided to build my new home I knew from the beginning my budget would be the amount that I would get from the sale of the house I planned to sell and not a penny more.

This meant that if I wanted a house that would be worth more than the one I was selling I would have to do most of the work myself,and this is what my home building budget was based on.

During the building process if I found myself over in any one area of my budget then I would have to find ways to cut back somewhere else. That way I could be sure I was not over spending. There is not a lot to be said about the actual size your budget will be - everyone's situation is different. If you don't have the money in your saving account or from the sale of another property, and your lottery numbers did not come up, then your only solution is to borrow it. And that is what most of us have to do.

If you already have a building lot then of course you won't have to borrow as much, and if you have to borrow for a building lot then that will have to be included as part of your budget costs.

So, if you need to borrow money then this is where you pick up the phone and make an appointment to see a mortgage broker.

There are lots of lending institutions out there so check out a few,compare their rates and their terms before you sign on that dotted line.

Once you have your money in hand, or at least in a bank in your name, then it's time to set down and plan, plan, plan.

Now that you have your money -you did get your money?...good...well now would be a good time to figure out how big of a house you can build. This can be done quite easily...check it out


Now write down the Steps to Building a Home and once you have the list you have to put a cost to each step.

What do you mean you can't do that? Sure you can. Here is what I did: I took a copy of my house plan, (actually it was a drawing on a piece of paper),of my floor plan and a picture of the outside of the house that I took from a magazine. Then I went to four building supply centers and asked if they would give me an itemized quote on the materials I would need.

When you are talking 50,000 to 60,000 dollars for building materials you'll find them to be very helpful....your home building budget is their top concern. In fact, the supplier that I got the bulk of my materials from had their drafts man draw my plans for me. That alone saved me 500.00 or 600.00 dollars.

A few days later I had in my hand four itemized building lists and prices of all my materials. From there I called a few trades people to get prices to complete my costs for building list.

To see a copy of my building material list click


Ask around, there are a lot of good people out there that are more than happy to share their information with you, to help with your home building budget..

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