How to Make Your Budget Suit Your Dream Home

How to Make Your Budget Suit Your Dream Home

The biggest upside to building a new home is that you can select everything to be right for your needs. There is a misconception that selecting design features that are right for you means a premium price tag. Experienced home builders have a wide variety of home design to assist matching what you need with your budget.

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Balance future costs with building costs

Calculate what your future costs will be, these include, mortgage payments, property taxes, insurance and monthly living costs in regards to utilities. Once completed, these calculations give you a better grip on what your budget for building the house is like. This helps you better plan what you can afford to incorporate in the house. Financial assistance is also available to help increase your budget through a First Home Owner Grant, be sure to check if you are entitled for one in either Victoria or Queensland.

Have an open floor plan

An open floor plan refers to a house whose common spaces, such as the kitchen and the dining area, have no walls or partial walls between them. It can do wonders when it comes to the cost of building a house as it significantly lowers the money that needs to be invested in walls. Fewer walls equal less material, and less material equals lower cost. An open floor plan can also help boost the family mood as it is more cosy and less walls mean more sunlight and fresh air can flow through the house.

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Invest in quality to save in the long run

When it comes to materials, taking shortcuts on prices can often mean a lower quality. Investing in quality material that will last the test of time often result in savings around maintenance and reducing the need for replacements down the track. To calculate this into your budget and restructure it accordingly can save any unexpected costs sneaking up on your in the future.

Keep the details simple

If you’re on a budget, think smart. Don’t go extravagant on the minor details. For example, keep the roof simple. The costs of complex roof lines can add up across the total area of the home.

Upgrade on the items that will stand the test of time, like stone bench tops in the kitchen, floor coverings – such as carpet and floor tiling, brickwork and doors are another example of a good upgrade to personalize your home.

Try and save money by selecting slightly cheaper options on items that can be upgraded or renovated later, such as shelves, furniture and soft furnishings.

Choose a trusted builder

Another way to ensure you get more value for your money is to go with existing house & land packages, or ready built homes offered by builders such as Orbit Homes. Orbit pride ourselves on the quality of suppliers, builders and materials used to create every single home built, with over 38 years of building experience, we know there are no shortcuts when it comes to perfection.

 

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The most important part of selecting a home design is to do your research, prepare a wish list and have your ‘real’ budget 100% finalised. If you have any queries note them down and make a list then contact your new home sales professional at one of our display centres.

Get researching and discover Orbit’s home designs ranges, Abode homes & Signature Living and get some serious design inspo!

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