Blueprint to Your Dream Home: A Detailed Pricing Strategy

Establishing Your Dream Home Budget

Budgeting Your Build

At On Your Lot Homes, we aim to give you a transparent view of the costs involved in creating your dream home. Our “Blueprint to Your Dream Home: A Detailed Pricing Strategy” allows you the flexibility to value what's most important to you in constructing your new custom home.

Lot Cost

Choosing your potential homesite is perhaps the most important decision, as it's the first step in ensuring you can cost-effectively build the type of home you desire.

It's crucial that your lot budget establishes the “highest and best use” for your homesite. Work with an experienced land agent who understands the local market and can guide you in paying the right price for your future homesite. If you need assistance finding one, we can help!

Further Reading:
Purchasing Raw Land: How to Avoid Your Homesite Becoming Just a Campsite
New Custom Home Buyer Mistakes We See Too Often

Site Preparation & Permitting

This phase is crucial and often misunderstood in the financial planning of home building. Costs can vary significantly due to county fees, lot size, and the extent of necessary development work. For instance, building permits in Maryland can differ by as much as $50,000 per county.

Site preparation and permitting can be overwhelming, requiring considerable coordination. Allow our engineers to assist you in ensuring that future plans can be achieved at no additional cost. Through our Your Lot Your Way service, we offer comprehensive site preparation planning and cost estimation to assist with your budgeting needs.

Base Home Price

When setting your budget for a new custom home, it is important to understand what’s included in the base home price. The right home starts with the right floor plan that meets your daily living needs, aiding your budget decisions.

Select a floor plan that includes most of your required features in its base model. To prioritize effectively, create a list of home features divided into 'must-haves' and 'nice-to-haves.' This will help you focus on what’s essential and adhere to your budget.

Further Reading:
Before Building a Custom Home: What Decisions Do Customers Need to Make?
Construction-To-Permanent Financing Process

Additional Features, Allowances & Custom Options

When distinguishing between the nice-to-haves and must-haves in your budget, consider which items will add value to the home. Features like a third bathroom or a first-floor in-law suite can increase value, while personalized elements like unique accent walls may not. The OYL Homes team will help you find the right balance between standard options and fully custom options.

Remember, "wants" like decor changes can be added later and don't need to be included in your initial budget. Focus on amenities that support your lifestyle, such as extra bathrooms or an in-law suite.. Get started today.

Further Reading:
How to Bring Personality to Your New Home to Avoid Looking Generic
New Home Budget: How to Narrow Down Your Custom Build Wishlist

Use our blueprint to help you determine your overall budget. We can help you break down the various buckets to help you reach your home-building goals.

Have you already chosen a lot? We can help you calculate your site preparation and permitting costs so you know how much you can spend on your base home price and options.

Have you fallen in love with one of our floor plans? We can help you estimate your budget for a lot and the associated site costs so you can build your dream home.

Are you working with a lender? We can help you and your lender determine the proper overall budget for all four buckets.

At OYL Homes, we treat our customers like family and want to help you in any way we can to make your journey to custom homeownership a memorable experience. Reach out to us at build@oylhomes.com or (833) 289-6954 if you have any further questions on building a custom home or if you’re ready to build your dream home now, contact us today.

“Barbara was great. She helped guide me through the entire process. She was always quick to respond and there to help.”

— Jane H.

“Scott of OYL Homes made my home-building experience a positive one. I would certainly trust the team at OYL to build for me again in the future.”

— Bill W.