A modern home can cost a lot. However, it is possible to plan a budget and design a modern home within your budget. There are several things that you should consider when determining how much you can spend on your new home. These include: Design, Insurance, and Cost per square foot.
Simple design concept

Building modern homes with a simple design concept is more cost-effective than traditional ones. This type of home design is more cost-efficient because the walls and volumes are rectilinear and do not have many complicated features. The simplicity of the design can also result in faster construction. This type of house does not require much structural work or other special skills.

The construction process of modern homes can be very expensive, especially when they are designed with complex floor plans. A simple design concept can make the entire construction process shorter, thus saving money on specialized contractors. However, it is important to consider the number of rooms you need before starting the construction process. A simple floor plan can also create open spaces that can make a small square footage appear larger than it is.
Open floor plan

Modern homes with open floor plans tend to be cheaper to build. This is because fewer walls have to be built. This reduces labor costs and cuts down on the overall construction schedule. This also reduces the associated overhead costs. Open floor plans are more flexible with layouts, since they allow you to reconfigure the space as needed. However, open floor plans can also be noisy and lack privacy. It can also be difficult to control the temperature in an open space.

Open floor plans are also more affordable to build and decorate. They require less doors and hardware and less paint. This can save you a lot of money, which can be used for other things. They also make it easier to decorate because you can combine the different spaces rather than separate them. Decorating a home with an open floor plan is easier, as you can choose a color scheme or theme that works with the rest of the house.
Cost per square foot

Due to their complex builds and intricate architecture, modern homes can cost more per square foot than traditional homes. Materials, builder, and construction methods all factor into the cost. Typical material costs range from $50 to $140 per square foot. This means that a two-story, two-bedroom modern home could cost $140,000 or more. This includes the foundation, framing, exterior and siding, and drywall.

Modern home builders generally price their homes based on their cost per square foot. This includes all of the building materials and labor for each square foot of space. The higher the square footage, the more the home will cost.
Insurance

New homes are built with new safety features, such as wind protection and resilient materials like roofing. As a result, insurers often offer discounts on insurance for newer constructions. However, older homes may not be built the same way and may have construction materials that are outdated. Knowing this information before purchasing an insurance policy is helpful to avoid surprises when it comes time to pay the premiums.

American Modern offers an insurance policy specifically designed for homes designed in the American Modern style. This type of insurance is not available from the broadest range of homeowners insurance policies, making it a specialty product.
Resale value

When comparing the resale value of modern homes with older ones, new construction tends to hold its value better. These homes usually have better systems and don’t need major repairs. They are also better located, with larger lots, which attract buyers who want to entertain outdoors. In addition, modern homes are typically more appealing than older ones. The little details inside the home also play a major role in its resale value. Adding features like quartz countertops, hardwood floors, and decorative molding make the home more desirable to potential buyers.

If you have children, you should look for a home near a quality school. Even if you don’t plan on having children, you should still pay attention to the schools in the area. If the schools in a neighborhood aren’t top-notch, potential buyers may not want to purchase the home.