Is it time
to pack up and move the old homestead? Whether you are growing your family or
merely need a change of scenery, you have many decisions to make. Considering
that a home is the most significant financial decision many people make, expect
to base judgments on economic factors.
How can you
save money on your next family home? The following eight tips can leave you
with more cash in your wallet and less stress when you tuck yourself in at
no two ways around it — the more space you have, the more your home will cost.
This principle extends far beyond the initial purchase price. It costs anywhere
from $2,000 to $3,000 more a year to heat every
additional 1,000 square feet of footage. That figure doesn’t
include water or other maintenance.
sense to buy the smallest comfortable abode if money drives your
decision-making. If you feel cramped, look for acreage. They aren’t making more
land, which means you won’t lose money on the investment — and you can build an
addition or she-shed later.
modular homes offer considerable advantages over traditional site-built models,
and the finished version is indistinguishable from the latter. Manufacturers
assemble components in the factory, meaning that weather
will not delay construction and increase costs.
homes, modular homes increase in value at the same rate as traditional builds —
you won’t lose on your investment over time. You will get a speedier move-in
date and greater energy efficiency, further decreasing costs.
probably know that finding a new home in New York or San Francisco will come
with a hefty price tag. In general, you pay less per square foot the
further you travel away from a metro center. This situation presents a
non-dilemma if you work from home and prefer the serenity of the country.
you live for the hustle and bustle or have to commute, consider those factors.
What’s the point of splurging on a McMansion that you never see because you
spend all your time driving to and from work?
so much as type “Zillow” into your web browser’s address bar, sit down and
write a list of needs and wants. Needs are those things that bear little
compromise. If you always wanted hardwood flooring to make kitty-vomit cleanup
a breeze, that’s your prerogative!
homebuyers value features such
as Energy Star appliances throughout — you can save a bundle on utility
bills. Outdoor living areas and garage storage are other must-haves for many
determine what you will not live without, save yourself money on your next
family home by investing in quality. While doing so may cost you more upfront,
it will save you considerable cash over the long haul.
example, you will pay $60 per square foot on average for marble countertops if
you upgrade later. If you are building a new home, you may find that you can
include them as an option and save yourself considerable cash. Whip out your
calculator and see what you can save by wrapping desired features into your
As much as
you don’t want to spend money on the old homestead when you plan to move, some
details could result in more cash when you sell. Finishing your basement can
have a return on investment (ROI) of 69% in some regions.
touch up your exterior and interior paint at a minimum — it costs little but
makes your home look newer. Stone veneers, garage doors and steel entryways
also add to your property value. They might help your real estate agent add the
“sold” sign to your listing more quickly.
If you are
the handy sort, why not consider a fixer-upper? Maybe you hesitate because you
have heard too many fix-and-flip horror stories. However, there’s a world of
difference between real estate speculation and saving money on your next family
Even if you
worked construction for years, get a professional home inspection before
signing. Maybe you can tackle an indoor plumbing overhaul, but fixing a cracked
septic tank is beyond your skillset. You don’t want to bite off more than you
can chew to have it cost thousands —realistically assess your abilities.
If you are buying
your first home, your state may have programs offering anything from
downpayment assistance to financial counseling. Look into these
if you served in the military — thank you for your service — you can qualify
for a VA loan. These instruments require zero money down. Some areas likewise
provide incentives for professionals like teachers and police officers to move
into disadvantaged neighborhoods.
comes time to buy your next family home, you want to save as much money as
possible. The eight tips above can help you save ample cash for throwing a
fabulous housewarming party.