Budgeting for a New Home
Richardson Homes specializes in building the best luxury and custom homes in Oklahoma. Our expert home builders have over 30 years of experience, and we pride ourselves on the level of quality we deliver. We provide high-quality materials, construction, customer service, and business function. We believe a house is not a home until you make it one, and we are committed to helping you accomplish this important goal by helping you budget for a new home.
Types of Building Contracts
The two types of building contracts are cost-plus and fixed price.
- Cost-plus: This type of contract charges you for the cost of materials and labor. The drawback of this contract is that if material costs increase during the build, or the build is slowed down, the cost of the build increases for you. The advantage to this approach is that you have the freedom to make alterations to the build.
- Fixed price: This contract sets a final price before the build begins, so you know what you will pay, and any changes in construction time or material needs increases the cost for the builder, not you. The drawback is that this contract outlines every detail of the build ahead of time, and you do not have the freedom to make alterations.
Why a Fixed Price Builder Is the Right Decision
A fixed price builder plans out every detail of your home and provides you the total cost for your build. As the price is fixed for you as the customer, any problems or mistakes in the build that can increase expense are the responsibility of the builder.
This provides two major benefits. It gives you peace of mind that the cost of your build will not change once an agreement has been reached. This also incentivizes the builder to know what they are and are not capable of, to have skilled builders, a refined process to ensure that the build is completed to exact specifications, and that the work is done right on the first attempt.
Get the Most Out of Your Budget
Considering the factors that affect your costs will allow you to prioritize the things that matter most to you. Home construction budget factors to consider include:
- Land: The site of your build can impact the cost. A sloped piece of land, for example, is more expensive than flat land because of the need for a deeper foundation, among other considerations.
- Square footage: Size is one of the most significant factors that affects the cost of a build. Larger homes are more expensive, but they also have a higher resale price.
- Location: Land within a city will cost more than rural land.
Richardson Homes is an expert in this field, and we know that budgeting for new homeowners can be very stressful. To help you budget for a new home, we offer a helpful tool to give you an idea of what your budget might look like.
Why Choose Us?
Richardson Homes is a team of expert home builders with more than 30 years of experience in the industry. We use only the most qualified experts to develop, plan, and build your new luxury home. If you want to build a house in Oklahoma, Richardson Homes offers our customers unmatched customer service from one of the best home builders in the state.
Contact Richardson Homes
If you want a high-quality, luxury home built by a friendly team of highly skilled home builders in Oklahoma, Richardson Homes has you covered. We work with you to ensure that your project is designed the way you want it, and then we complete that project to your precise specifications. Contact us today to learn more about what we can do for you.