Home building allows clients to customize for the individual needs of their family. In order to have a successful project, it’s important to know where and when to save money. Below are a few frequently asked questions to help maximize the home building experience and minimize spending.

Q: I have a limited budget; can I still build a custom home?

A: An outstanding home builder will cater to your individual needs, making custom-home building affordable and rewarding. Custom home builders are customer-oriented and can determine the true needs of their clients. This might include creating a smaller, more efficient home with cost-effective finishes.

Q: Does it cost more to build a custom home than a pre-built home?

A: It doesn’t have to. As long as you’re making a true apples-to-apples comparison, there’s no good reason why a custom home would have to cost any more than a pre-built home. All custom really means is “just the way you want it,” so if you want a simple home, we can build you a simple home. But if you want a luxurious venetian-style bathroom, we can do that too.

Q: Can I use my own subcontractors to save money?

A: It is important to differentiate between levels of quality with subcontractors. In large cities like Vancouver, where there is a wide selection of subcontractors, not all will provide quality work and materials. Outstanding home builders take pride in their unique selection of subcontractors. Through years of experience, unskilled subcontractors are weeded out, leaving only the best and efficient. While selecting an independent subcontractor may save money initially, this can also be detrimental to the project.

Q: Is fixed-price or cost-plus contracting more cost-effective?

A: A fixed-price contract is most common with spec builders and especially popular with clients unfamiliar with home building. The total investment is known and can seem safer than cost-plus contracts. However, this is usually the least economical option. Fixed-price contracts incentivizes builders to reduce their costs to increase their profit, and can potentially lower the quality of workmanship and materials.

With cost-plus contracts, a rate is agreed upon at the beginning of the project, giving transparency to any options the clients choose and allowing the clients to save money where they see fit. The disadvantage to this method is the potential to overspend. If the clients aren’t keeping track of their selections, they might be surprised by the incurred costs at the end of their project.

Alair Homes North Vancouver tackles this issue by using a hybrid approach that maximizes the benefits of both methods. Alair Homes meets with clients prior to the start of construction to agree upon all options and prices, and ensures that the client will not receive change order fees or unwanted surprises at the end of the project.

Q: Can I do some of the work on my home myself to save money?

A: The important question to ask yourself is, “What do I want to build my home myself?” If the answer is “to save money,” then you might be surprised at the value Alair Homes brings compared to what you think you’d save by doing it yourself. But if your motivation is from the satisfaction of being able to tell your friends “I built my home with my own two hands!” then by all means, roll up your sleeves!