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sraymer33

Budget?: First Time Home Builders

sraymer33
6 years ago

My husband and I have never built from scratch before, but we have found a spot where we would like to buy land. Because this whole process is new to us, we have no idea how to budget. Our total budget for everything is 400K- 450K, and we would be building in a master planned acreage community in south eastern Tennessee. Our needs are unique in that we need a 3 bed/2 bath home, which also has two home offices, as we both work from home. And we would like to keep it under 2500 sq ft. We are unsure how much we should spend on the land, and how much we should reserve for the home building process (what sorts of 'surprise' expenses can arise). This is really vague, I know, but if anyone can point me to some good articles on this, or let me know if it's even possible to build a 2000 - 2500 sq foot home on an acre or so within our budget, I would truly appreciate it.

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