How to Cut Costs in Your New Home

If you just moved into a new home, you know that the costs of home improvement, decorating, and other expenses tend to add up quickly. Many say that the first six months of owning a home are the most difficult, but after that, it gets easier to adjust to your new budget, and by that time, you will usually have everything you need in your home to operate on a sustainable level. Let’s take a look at some ways that you can cut costs in your new home!

Designate A Budget

This is one of the most important aspects of cutting costs. If you haven’t done this already, we highly recommend creating a budget with your spouse, partner, or roommates. This will help you know how much money can be spent on various things and home improvements. 

First, you should line out your fixed expenses. Such as your mortgage payments, insurance, car payments, any subscription services you may have, and anything else that is a fixed cost. A fixed cost is a cost that doesn’t vary by more than a few dollars month to month. For example, what you spend on gas is usually around the same dollar amount but can change by a few dollars depending on the prices in your area. 

Next, figure out how much you spend on things like groceries, eating out, and fun/entertainment activities. Once you have added up everything you spend every month, compare that number to your monthly income. If you are spending more than what you make, you will likely want to change your spending habits. Consider what you can spend less money on, like subscription services that you don’t use anymore. If you have extra cash left over after all of your expenses, consider how you may use this extra cash. You could save the money for unexpected expenses down the road, or you might spend it now on home improvement projects or other items. It’s really up to you. 

Choose Smaller Square Footage Where You Can Know Where to Save and Where to Spend

You may be considering how you should spend your money in your home and where. What is most important to you to be done first? For some, it’s the spaces that are used the most often, such as the kitchen, living room, bedrooms, and dining room. For others, some want the home office to be completed first because that is where they spend the most time. Spend some time discussing this with those in your home and figure out what you should finish first. You may be surprised by this discussion, which will help you know how much to spend on one room vs. another. You may think that finishing the kitchen is most important, but your family may decide that it’s most important for the living room to be completed first so they can have a space to spend time together. 

It’s also important to line out everything you want to improve in each room so that you know how much to spend on each project to get things where you want them for each room. This should also be a family or roommate discussion, so you can get a sense of what is most important to the group. Some people are not as picky when it comes to their bedroom, where it’s more of a place to sleep rather than where they will spend most of their time. For others, the entertainment room is most important to them. Consider what you might include in this room to take advantage of every square foot. Do you want a ping pong table, a gaming system, or even a projector and screen to watch movies on as a family? Maybe your family doesn’t need all of these things, and you can focus on the living room first and finish that later. The more you consider the square footage and how much space you and your family will use, the clearer this will become. 

Pick A Good Team To Help You

This is a very important aspect if you aren’t looking to finish your new home alone. Finding a good team of people who want to help and find the best way to cut costs while still improving your home can make or break the effort to do so. You should look for a team that has a good reputation with their past clients, has valuable experience, and shows that they care for each customer and their dreams for their new home. 

How Driggs Construction Can Help

We are experienced in helping our customers achieve their goals and stay within their budget. And most importantly, we care about each and every customer. We can help you see the potential of your home and help you to decide where to spend your money within your home depending on what is most important to you and your family. Contact us today to find out how you can cut costs in your new home.