Three Key Elements in Planning Your New Home

There is a simple formula that holds true in all new construction projects.  It is the theory that there are three main factors when building or remodeling your home.  The three factors are PRICE, SIZE, and FINISHES.  When planning a new home or remodel only two of these items can be fixed.  The third condition must remain a variable and is determined by the other two.

  • PRICE is your budget.  How much do you want to spend on your project? 
  • SIZE is the square footage of your project.  What size of home do you need?  What size garage?  How big do your porches and patios need to be? 
  • FINISHES are the features in your home (flooring, countertops, light fixtures, plumbing fixtures, fireplaces, appliances, cabinets, windows, exterior finishes, etc.).  This also includes the architectural style and complexity of the home.

You can choose two of these factors and the third will be determined by the other two.  For example, if you want to spend $400,000 (price) and you want 2,600 finished square feet (size) then you will have to be flexible on the finishes in order to meet the other two fixed numbers.  Another example is if you need a certain level of high end finishes throughout the home and you need 3,600 finished square feet (size), then the price will be the third element which will be determined by your other two requirements.  Of course you have to realistic.  You can’t ask for a 10,000 square foot home for $200,000.  There is no level of finishes that will make this formula work. 

As a homeowner you will choose the two variables that are most important to you.  As your homebuilder we will use these priorities to design and build your dream home within your budget.  Planning and building a new home is a constant effort to get the home you want while keeping your budget in check.  Are the $5,000 built in cabinets in the living room worth it, or would you rather spend that money on more energy efficient windows?  There are a lot of decisions to make and many compromises that go into planning and building your new home.  Keep this simple principle in mind when planning your new home.

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4 Responses to Three Key Elements in Planning Your New Home

  1. Pingback: Cost per sq ft – how much does it cost to build a new home? | Schroetlin Custom Homes Blog

  2. DanT says:

    Great advice Mike! It seems lots of people don’t realize the fact that one of those factors must be variable. Understanding this relatively simple relationship and knowing which thing your client would like to remain variable can make the process much easier on everyone involved.

  3. Pingback: Does a “Custom Home” mean an expensive home? | Schroetlin Custom Homes Blog

  4. Jason says:

    Always nice to see anothers opnion.

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