Monthly Archives: September 2024

As mortgage rates remain high, finding affordable house plans to build is an attractive option for a lot of prospective homeowners. If you’re wondering how to build a cheap house in today’s economy, you’re not alone. Read on to find out more about construction costs, designs, and the pros and cons of building a cheap house.

Picking an Affordable House Plan To Build: What to Consider

When choosing affordable-to-build house plans, there are a few key factors to consider. In addition to the style you want, pay attention to how much money you want to spend, where you want to build, and how big you want your house to be. 

Budget

First and foremost, you can narrow things down considerably by taking a look at your budget. How much cash do you have to spend on a downpayment? How much are you willing to take out in a construction loan? If you’re not sure what you can afford, you may want to meet with a financial advisor first. 

Location

Location is another big factor when figuring out how to build a cheap house. You’ll need to look at several factors, from material costs to the price of land. The difference between an affordable house plan in Southern California and Nebraska for example would be pretty drastic. 

Size

Once you’ve narrowed down your budget and location, you should have a pretty good size range in mind for your home build. In a rural area you might be able to build a 2,000 sq ft house for “cheap,” but in a metropolitan area, you may need to consider tiny home plans (500 sq ft or less).

Deciding Which Affordable House Plan Is Right For You

If you’re ready to look at cheap house plans to build, you also need to decide on the style and design you want.

Style

Whether you prefer contemporary or craftsman, you can pretty much build a cheap house in any style. Just be sure to find one that suits your family, and that will maintain future resale value in your area. 

Design 

Sometimes, the difference between a cheap house build and an expensive one comes down to design. Things like custom lighting, built-ins, and unique natural stone can all drive prices up. The simpler you make your home’s design, the more you’ll save on overall costs. 

Pros of Building a Cheap House

Affordability

Building a small/cheap house is often a lot more affordable than buying a pre-built home. If you can find a great cheap house plan that you love, you can save a lot of money.

Lower Mortgage/Debt

After construction is complete, your loan will be refinanced into a mortgage that is typically lower than that of a pre-built home.

Lower Property Taxes and Insurance

When you spend less money on building a home, you’ll also be spending less every year in property taxes and insurance premiums.

Energy Efficiency and Simpler Living

Smaller homes are also great for energy efficiency and simplifying your life. If you’re ready to spend less on power bills and get rid of unnecessary junk, building a cheap home is a great option for you.

Customization Flexibility

When building a cheap home, there are still so many choices you can make to personalize your design. Add a fireplace in every room, build a Murphy door bookshelf, or design a bathroom with a sauna. The options are endless.

Is it cheaper to build a house?

Despite the many pros of doing it yourself, it may not always be the most financially sound option. For example, is it cheaper to build a house in the location you’ve chosen or to buy one? The answer to this question will vary by state and also depends on how elaborate you want your design to be. 

Cons of Building a Cheap House

Lower Resale Value

When you select a smaller house plan, the resale value will reflect the size in the future, so make sure you plan for that eventual outcome. 

Zoning/Building Restrictions

Some states are more difficult than others when it comes to building a cheap house. Getting the right permits and dealing with delays can add up quickly and end up costing you more.

Higher Likelihood of High Maintenance Costs

Cheap builds often involve lower-quality materials or cut construction corners. You could end up with more upkeep and costly repairs in the future.

Location challenges

If you live in an area prone to destructive weather or crime, your house might not hold up to your initial cost-saving measures.

Creating a Realistic Timeline For Your Affordable House Build

If you’re ready to start a cheap house build, don’t expect it to be completed overnight. Even with a smaller plan, construction can take a long time, especially if you’re working on it yourself. Plan for months of temporary housing arrangements, weather complications, appraisal delays, and more. Giving yourself more time than you need is always better than coming up short. 

Conclusion

Whether you’re looking to build a tiny home or a mother-in-law addition, there are countless options for cheap house plans. Check out MonsterHousePlans’ cost-to-build calculator, architect consultations, and thousands of designs, and get started on your dream home today.

If you’ve ever been curious about how to build a tiny house, there are a lot of pros and cons and considerations to keep in mind. Modern tiny house plans come in a variety of shapes, styles, and sizes, and can be a great option for those who don’t need a lot of space. 

Picking a Tiny House Plan: What to Consider

Whether you’re looking at tiny house plans for a rental unit or to call home, there are a few things you should keep in mind.

Location

First—will the tiny house be built on land you currently own? Or will you need to buy land as well? Do you plan on building a permanent structure, or a tiny home on a trailer base that can be moved?

Budget

It’s important to set a budget that can guide you through the process of building a tiny house. The design and materials used will greatly impact your overall costs. 

Size/Storage

Remember—tiny homes are usually less than 500 sq ft. During construction you should think about ways to maximize space and storage.

How Much Does a Tiny House Cost

How much does a tiny house cost to build? That depends on the tiny house plans you’re looking at, the materials you want to use, and how detail-oriented you want to be. Here’s a rough estimate breakdown of costs:

  1. Lumber, insulation, and drywall: $4,500
  2. Windows, roofing, and siding: $4,000
  3. Electrical: $1,500
  4. Bathroom: $1,000
  5. Flooring: $500
  6. HVAC: $1,000
  7. Kitchen appliances: $3,000
  8. Furniture: $2,000
  9. Paint, light fixtures, finishing touches: $1,000

Total = $18,500

Deciding Which Tiny House Plan Is Right For You

Modern tiny house plans come in just about any style including modern, rustic, A frame, and cottage. Find an aesthetic you like, choose the exact square footage you’re looking for, and get started.

Pros of Building a Tiny House

Affordability

The main appeal for many people looking into building a tiny house is the cost. Tiny homes can be built for a fraction of the price of a standard-size home.

Lower Utility Costs

With smaller square footage, you’ll also see lower utility bills because it takes less energy to heat and cool a tiny home.

Minimal Maintenance

When your entire living space is packed into 400 sq ft, there’s not much to do in the way of maintenance. Clean out your vent fans, change filters, and keep an eye on water runoff. 

Simpler Living

Many people crave the simplistic lifestyle that a tiny house has to offer. If you love the minimalist mindset, you’ll love a tiny home. 

Mobility

If you choose to build a tiny home on a trailer platform, you can live just about anywhere.

Faster Build Time

Need a place to crash sooner rather than later? Tiny house plans require fewer materials and take a lot less time to build than traditional homes. 

Cons of Building a Tiny House

Limited Space

Tiny home living isn’t for everyone. If you need more storage space or have several family members, a tiny home can quickly become a claustrophobic environment. 

Zoning/Building Codes

In order for your tiny house to be a legal residence, you’ll need to follow local zoning laws and building codes. This can be a pain, especially if your state has strict guidelines surrounding tiny homes.

Financing Challenges

Often, a tiny house build can cost much more than you might anticipate. It can be difficult to obtain a construction loan for a tiny house, so many people build them from a personal loan or cash.

Resale Value

As a general rule, tiny homes don’t retain resale value like a traditional home. People see them more as accessory dwelling units, so they don’t make a great real estate investment by any means.

Lack of Amenities

Again, tiny house plans aren’t for everyone. If you’ll miss having a garage, ample counter space, multiple bedrooms, large bathtubs, etc., a tiny home won’t live up to your expectations.

Creating a Realistic Timeline For Your Tiny House Build

Even if you’re building a tiny house from a pre-made plan and kit, the process can still take a lot longer than you might think. Allow time for the foundation to settle, framing, wiring, insulation, etc. From start to finish, a tiny home may take several months to complete.

Conclusion

Whether you’ve just started researching how to build a tiny house, or you’re ready to start construction, it’s important to keep in mind that this process is more complex than simply throwing a shed together in the backyard. Tiny house plans are a great way to build a home on a budget, but they’re not for everyone. 

Find modern tiny house plans and other small builds on Monster House Plans, and start building your minimalist dream home today.