Splurge vs Save – Building a House

28 September, 2021 Diane Pantoja

Building a house is a milestone for most, if not all, adults aspire to achieve. The current NZ housing market, however, is making this more of a pipe dream. But all hope is not lost because, with the right smarts, a little bit of sacrifice here and there, your hard-earned money would go a long way and eventually get you the home of your dreams.

As tempting as it is to go all out in bringing your Pinterest fantasies to life, budgets and numbers will come biting you in the ass. The trick is to pick and choose your battles. Here’s a cheat sheet of some of the things you could SPLURGE or SAVE on when building a house:

SPLURGE: Bones

It is a construction golden rule to splurge on the more permanent parts of the home that are difficult to change. When looking at the bones of your home – meaning its structural parts such as the foundation, the framing, and even the windows – taking shortcuts and cutting costs wouldn’t be your best bet. This could mean splurging on hiring an experienced foundation contractor and using good quality materials. All of these could rack up the costs, but spending your money in making a strong and sturdy house that could stand the test of time is money very well spent.

SAVE: Skin

Every part of your house that primarily serves an aesthetic or vanity purpose is worth reassessing. When playing with a smaller budget, finding alternatives for things like paint, flooring, and fixtures could give you a more comfortable wiggle room to accommodate things that matter more.

SPLURGE and SAVE: Insulation

Investing in high-quality insulation is a good investment. With the temperamental climate we have, good insulation could transform the cold winters from painstaking to enjoyable. The other perk, or should we say the very reason why splurging on insulation is crucial is that it helps reduce your energy/power bill. To save a bit on this front, choose more affordable material to achieve a well-insulated wall.

SAVE: Premium Materials

The idea of using premium materials has “splurge” written all over it. I mean, yes, it is, but there’s a loophole to this. If your heart’s set on a premium material like marble or wood flooring or cabinetry, the trick is to use premium materials sparingly. Mix and match premium materials with more cost-effective options across the board to achieve that luxe feel without blowing off your budget. A good example would be using hardwood floors on your living room and using wood alternatives like a laminate in a study or a space that would get less foot traffic.

SPLURGE: Frequently Used Items

Nothing beats getting the absolute bang for your buck, especially if it’s big-ticket items. When furnishing your home, splurge on key items that you know you will be using the most. If you’re one to host dinners regularly, splurging on a good kitchen setup would be wise. If you exclusively work from home, purchasing the right tech to make your home a smart home could be ultra beneficial. If you love your movie nights, a top of the line entertainment system would be the thing you splurge on. Bottom line: Think cost per use.