How to Save Money on Your Luxury Remodel Without DIY
Luxury and custom home renovations can wreak havoc on a homeowner’s budget. Contractors can charge 15% to 25% of your home’s total price when building from scratch. When you’re in the luxury custom homes market, where prices are as high as buyers’ expectations and often exceed $1 million, it’s easy for the costs to add up. One solution is to become your own contractor. If you’re a fan of hammering and have time to devote to your project, this can be a great option. If you don’t care to join the ranks of DIY custom home builders, we’ve compiled some tips to help you renovate without breaking the budget or hammering your own nails:
- When you upgrade, think amenities and efficiency not size.
If you can increase the efficiency of your kitchen, you may not need to tear down the walls for more space. Take a look at the most bulky, space-consuming fixtures and discussing with your custom home builder what can be done about them. You’d be amazed what small changes to your current luxury home floor plans can do.
That doesn’t mean you can’t still get your new convection oven. Upgrading appliances is another quick and easy way to make an old home feel like new luxury designer home models. Eco-friendly additions like convection ovens come with the added benefit of reducing energy use and cooking food 25% faster. Upgrading for long-term savings is another point we’ll touch more on below, but while we’re talking kitchen amenities: Some hot items for luxury custom home builders right now are: custom wine cellars, complete with tasting rooms; full outdoor kitchens; wood-fire ovens for pizzas (perhaps in your full outdoor kitchen); and vineyards. Adding any one of these amenities to luxury home designs is a great way to get an upgrade feel without the hefty costs of adding square footage.
- The same applies to the bathroom.
Before you blow out any bathroom walls, think about what you could do with the space you already have. Infinity pools and stone bathtubs are particularly hot right now. As are professional, deluxe personal at-home spas. Just a thought.
- Leave the sink and toilet where they stand.
While we’re talking about bathrooms and kitchens, here’s one more bit of advice: Don’t move your sinks or toilets unless absolutely necessary. According to plumbing experts, moving sinks or toilets are often the largest contributor to plumbing costs.
- Long-term vs short-term costs.
At the end of the day, a custom home remodel is going to cost you, as all custom home builders will tell you. If you’re incurring costs today, however, it doesn’t mean they can’t help you save money in the long-run. Adding energy-efficient features (like the convection oven we mentioned above) can help cut your day to day costs down the line. Solar panels and geothermal heating and cooling systems are two popular items in luxury house designs. Geothermal systems use up to 25 to 50% less energy than conventional heating systems and also reduce emissions, shrinking your bill and your carbon footprint all in one.
Also talk with custom home builders about your home’s insulation and windows. You can reduce heating costs by up to 50% with the addition of spray foam insulation. Similarly, double-paned windows can reduce costs by 18% to 24% in hot and cold months.
- Take it to the ground and build it back up from scratch
If the above suggestions don’t sound like enough to transform your home into the luxury custom home designs you had in mind, the best bet may be to tear the whole thing down and start fresh. Many homeowners shudder at the mention of the word “demolish,” but sometimes it’s the best route. Easy to stomach with smaller projects, for instance if you’re planning to remodel a 1,200 square foot guest cottage, but the advice can be equally sound for a larger home. Ask the opinion of custom home builders and run the numbers. How much would a complete rebuild cost in comparison to the renovations you had planned? The answer may surprise you.
Luxury home remodels are supposed to be for pleasure. With the help of custom home builders and these five tips, you can have your remodel minus the heavy costs.