How to Save Big On Your Dream House

How to Save Big On Your Dream House

You will not find a single person who will deny the fact that he does not have a dream house in his mind, but everyone has different standards as to what their dream house would be like. Some are inspired by the vintage looks, whereas others appreciate contemporary architecture. No matter the kind of house you have a strong desire for, there is always a need to make a perfect plan to finally getting your dream house-made. People who are already living in their dream house have learned good and bad lessons while pursuing their dream-house journey.

There are several options to explore while getting your dream house, that mostly includes buying the land and constructing it on your own, visiting an online real estate portal frequently until you finally find the house of your dreams or getting in touch with a property real estate agent to search the house that best suits all your needs and wants. If you are planning to construct your dream house, take a deep breath and hang on! It will be a bumpy ride! Saving money on your dream house is definitely your crucial objective; so we have composed down some proven ideas that would help you save on your dream house:

Finding an Architect who lends an ear

Finding an architect who lends you an ear is really necessary before you finally set off on a journey to constructing an incredible abode of your dreams. You might find a large number of architects across your city who would be well-known and reputable; though, not all of them will be considerate or friendly. So you really need to do your research right and find an architect that can convert your imagination on paper. After all, this is a once in a lifetime opportunity, and you cannot overlook it at any cost. A friendly architect would be involved in everything, including your lifestyle, friends, and family members, and would ask specifically about your expectations for a dream house. A considerate architect would help you avoid any unnecessary spending of money.

Hiring the Services of a Professional Builder

Just like you can find a countless number of architects across your city, you will be able to find a myriad of housebuilders who would be willing to present their services at affordable rates. If you hire the services of a professional construction firm, it might cost you a few extra bucks in the form of construction and consultation fees however if you chose an unprofessional and inexperienced builder, they would make you go out of budget and construct a house that becomes a pain in your neck instead of being an abode for you. Also, communicating with your builder is an important part. In fact, you need to have a heart to heart conversation with your builder to make sure that your dream house is built flawlessly.

Get Furniture from a reputable Furnishing Company

Designing and constructing a dream house are the primary tasks, and soon after comes the furnishing part. The more efficiently and artfully you furnish your house, the more elegant it will be. You should, therefore, be sure that you purchase furniture in accordance with your house theme and get it from a reputable furnishing company. Also, the wise and experienced people prefer hiring the services of professional interior designers to help them choose the furniture that best suits their house and living style. There is contemporary furniture with sleek lines, and there is vintage furniture with a traditional design concept. So it is time for you to get yourself geared up and start working on the tips mentioned above to build a house of your dreams.

Estimate the Money Required

Before you start your journey to save for your house, estimate the total amount you would need. This clarity will help you chalk out a clear plan as well as assist you in assessing the mortgage application required by the bank for a loan. It will also be helpful if you start investing early right from an early age on mutual funds or trustworthy chit funds. You can also consider partnering with someone in the family to save up more.

Avoid getting a House you cannot Afford

Getting a house is not your life’s only financial goal. So, it is not advisable to spend all your money on just one goal. Adopt a realistic approach and fit a place within the perfect budget and not a budget into your ideal house.

 

Save Enough for a Down Payment

Most homebuyers do not give the down payment much attention and therefore do not save enough for it. But what they do not get is that not only does this enhance the equated monthly installments (EMI) burden, but they will end up paying more as interests and fees too. It is wise to pay a minimum of twenty percent of the property value to avoid this expensive error in judgment.

 

Avoid getting a House when you are in debt

When you are already in some debt, you are not saving as much as you can to meet your goals of purchasing a new house. Adding a house loan to the mix further weighs down your monthly budget. It is wise to pay off your debt before you take on another loan.