All of those would together significantly bring your costs down. Dropping down some finishes would also greatly reduce your budget. Sometimes this is the route to go because you can upgrade finishes later often. Plumbing fixtures, lighting, countertops, etc can be upgraded later. A smaller porch or the direction of your garage cannot. What is the amount you are aiming to reduce the budget?

We are planning for all lower end finishes with the plan to redo them over the years. Not sure how much savings are possible but I would like to reduce it by 40k. We seen houses in our areas Parade Of Homes of similar sq footage for build prices under 210K. I feel our quotes were pretty high. Hopefully my meetings with builders over the next few days will bring some better numbers.

You could also straighten out the stairs, especially if you're lowering the ceilings.

FYI, it might be worth looking at plans the builders you are considering have built before. A builder is likely to charge more for any plan that's new to him over a plan he's got experience with, because there's more risk for the builder in a new plan, in a plan he knows, he's had the opportunity to work out the bumps and in a new plan he hasn't.

I couldn't get the link to work, but managed to figure out which plan it was. If it helps others, the plan # is 21-291.

My first question would be what level of finish the builders you consulted with via email were quoting. You will need to make sure you're comparing red apples to red apples vs red to green. When looking at quotes, what type of windows are quoted (aluminum clad vs vinyl), granite counters vs laminate, custom cabinets vs semi or stock, etc. But to answer your question, on first glance, the things structurally that I see are driving the cost up are:

1) hipped roof--lots more roof square footage than a gable to cover. You'd likely save 1/2 the cost to switch to a gable roof.

2) arched windows/transoms--switching out to standard windows & making them taller would save the most. Opting for standard rectangular transoms vs arched would be more expensive than no transoms, but less than the arched ones. If you really wanted the arched look, opting for an arched window instead of separate window/transom unit would save over separate units.

3) porches--that front porch is only 6' deep. Not a lot you can do with that--its more for the look than anything else. You could eliminate the front porch, pull the roof back even with the front exterior walls and do just a simple gable covered stoop. On the rear porch, think about what you will use it for and make sure it is wide enough and deep enough to enjoy it the way you envision using it vs just thinking "20x8 seems like it should be big enough".

4) stone/brick exterior--all vinyl would be the least expensive way to go. Brick would be less than stone. There are some really nice vinyl shakes available now that may be a more economical option to "mix it up" on the exterior.

5. square columns--switching to round columns saves a chunk believe it or not.

6) tray & vaulted ceilings--while they look great, they are more expensive + you lose attic space. Leaving the ceilings in the entire house 9' will give you a very open feeling.

7. tile in foyer/kitchen/breakfast--using hardwood or laminate in these areas will save a nice amount of cash.

Since you mentioned these options above, I'll weigh in-- I wouldn't go with 8' ceilings. 9' ceilings don't really raise the cost much, unlike 10' ceilings. With 9' you don't need to increase door heights, cabinet heights, etc. The 9' gives a nice open feeling that you will never get with 8'. I would keep the 1/2 bath if possible for easy access when working/playing outside--otherwise you're having to traipse through other rooms possibly leaving a dirt trail behind you. Plus any visitors will not have to use "the kids bath". Front load garage would save some money on the concrete pad possibly and with the grading. But you will lose some of the charm of the front exterior. I would find out just how much that change would save you before going with that option. As long as you put the stair in, you can always finish the bonus room later on.

Just my $0.02. Hope it helps!

Is it a possibility for you to serve as your own GC? My dh and I are doing this - yes, you have to qualify, but you can usually do that by taking a class or proving that you have project management experience (dh was a military officer).

If you have an outside the home job, perhaps you could take a leave to do this? We are saving a bundle by GC'ing ourselves (we have a deal with our main sub - he is serving as onsite boss for scheduling, etc). I had a great time interviewing and hiring the subs; now I'm working on the house, staining the deck boards - things like that. I get to watch the house being built - *so* interesting. And as GCs/laborers, both dh and I are having a great time helping to build our house...also, we're saving money by scrounging for things ourselves - better able to take advantage of sales, ebay, etc. than a paid GC would.

(this isn't bashing professional GCs at all - but the op asked about ways to save; this is an option for some people).

you can cut finishes all you want, but the fastest way to cut bigger costs is in square footage. Sometimes this just isnt possible however as I understand. But think long and hard about sizes of spaces. Without reviewing your plan, you may be able to achieve some cost savings. You can cut finishes, but you are cutting hundreds out of various areas, and sometimes thousands, but its rarely more than people think. Depending on the home, but on average, finishes account for quite a small % of a project. When you cut square footage, not only are you cutting finishes within that space, but you are cutting foundation, slabs, floor structure, exterior wall framing and insulation, trusses, roof covering, etc. Unfortunately, (again, without reviewing your plans) I do not see anything on that list that will get you to $40k in reductions. One thing to consider is if there is any DIY ability in your build. This can save quite a bit of money as long as the capabilites are there (and the desire!). A lot of people do flooring installations, tile installations, painting, build back decks, finish out the basement themselves, etc.

Also check into allowances for things included in your build such as appliances and floor coverings. See if there are any ways to reduce costs here that would include purchasing them yourself (not always a cost savings) or going with lower grade appliances than planned (again, assuming they were higher end anyway).
The comment to talk to the builders and see what standard plans they have is also a good suggestion. You may be able to get away with tweaking one to work for your needs that would reduce cost.

The lender we will most likely requires an outside GC. Im pretty excited to meet with our first builder today, but also not looking forward to finding out this layout/plan is just too expensive. While I was hoping to cut 40k, I really dont see it happening. I am preparing my self mentally, so I have a positive mindset just in case we end up looking through plans the builder offers.

We saved $45k by being our own GCs - and like I said, we're sharing some of the work with our main sub, so we could have saved more if we would've done *all* of the GC work. So it's too bad your lender won't let you do that.

At any rate - anything that you can diy will help you. Unless you're the hands off types. Which is okay, of course. But you can save some good money by doing some of the work yourselves.

Besides the reductions already noted...Save money by reducing unknowns: Complete specifications of everything you could possibly care about should be done before you sign anything, and be part of the contract. Always get everything in writing. Document all decisions and communication with builders.

That is a great tip from daderini. Reducing the unknown and having a contingency fund in your overall budget can really help. Also, sticking with choices, if you select something but continue to look for something better....you will find it and a higher price to go with it.

Often sticking with choices is the best thing, but not always. We decided on Lowes for counter tops and cabinets (didn't sign a contract, but we were ready to do so). But then we decided to see if there was anything better out there. We wound up signing at a custom cabinet shop - price will be better, so will quality and design. Counter tops - instead of solid surface from Lowes, we found granite from a local stone yard. Better price, and we're excited about granite.

A few days ago - we'd been ready to sign with a custom shed company to build a garden shed for us. But then we found out that our log home subcontractor has been finishing a log house about 2 hours from here. It seems that customer has a whole lot of extra logs due to a shipping mix up, and no place to put those logs, no use for them. It's looking like we will be able to get those logs for our garden shed at little/no cost, aside from the cost of a uhaul to get them here; there are other left over materials from both homes that will go into our garden shed.. ..it's looking like we'll wind up with a custom log garden shed that will match our custom log house - at a fraction of what it should cost.

gladys1924, good point as everyone assumes that just because a box store has good purchasing power they will automatically be cheaper when in truth reality is often different.