6 Hidden Costs You Should Know About When Building A Home

2022 April 14

Many people choose to have their own custom homes built, and it’s not hard to see why. When you have a home built to your specific needs and specifications, it’s obviously going to offer everything you and your family would want from a home.

But while the results can be stunning and everything your family had hoped for, it’s also important to plan and understand the costs you’ll need to cover.

Today, we’re going over 6 hidden costs associated with building a home that you should know about. Read on to find out more!

Upgraded Features

The features included in the building services are usually just basic ones. If you want to go beyond the basics and add upgraded features, you’ll need to pay extra, as many families do. It’s important to understand that the more features you want, the more the process will cost you.

Closing Costs

There are always costs that come with closing the purchase of a home, and it’s not really any different when it comes to building one.

The same boxes need to be ticked, which means that you’ll pay fees for home inspections, attorney fees, various taxes that apply in your area, home insurance, escrow, and whichever other services you might need when closing. Therefore, it’s important to consider these costs when planning a budget.

Modifications

There might be different modifications you want to make to your initial plans as the process moves along. If you aren’t prepared for the costs of these modifications, you might have to settle for things that you’re not 100% happy with.

Knowing this, it’s essential to set some money aside to make small and potentially bigger changes as the design and building process moves forward.

Preparing the Land for Building

Unfortunately, it’s not as simple as buying a plot of land and building on it. Before land can be built on it, it must be properly prepared. That might mean removing debris and trees from the land, grading and then leveling the lot, or potentially bringing in new ground materials if that’s necessary.

These are things that only trained professionals can do, which means you will have to spend money on that work.

>>>>> Thinking of buying a plot of land for building a house? Read what our experts have to say! What to consider when buying land to build a house.

Landscaping

The process of building your home is not where things end. If you simply bought a rough plot of land, there won’t be any kind of garden or landscaping once the home is built.

So you’ll probably want to hire gardeners and landscapers to create a garden that’s fit for the home that’s just been built for you. A home is hardly complete without any kind of garden in place.

Moving Costs

Moving costs are the one thing that might seem obvious, but that often gets overlooked when you’re planning the budget for your home.

They will still have to be covered when you’re building a home, and it’s very easy to forget about them when you’re focused on the costs of hiring contractors and paying for the building work and materials.

Building a home can be a wonderful experience, and it can offer everything you want once it’s completed. But it’s also crucial to make sure that you’re entering this whole process with a complete understanding of the costs and work involved. That way, you can make sure it’s financially viable and sustainable for you.

Eagle Creek Homes

Eagle Creek Homes is among the top West Michigan home builders. Our transparent custom workflow involves clients in every step of the home building process, ensuring that their vision stays on track and within budget.

If you’re ready to start bringing your dream home to life and want to discuss our process or customization options, request a new custom home build consultation today!

If you’re planning to build a home in West Michigan, we have multiple housing development communities with plots ready to build on.

For something more immediate, browse our move-in-ready homes featured on our site!