Buy a large lot with a friend or family member that can be split into two smaller lots. Some of the most appealing properties may be much larger than what you want or can afford, yet the seller may not be willing to break up a large parcel. So if you can share the cost with someone else (preferably someone you don’t mind having as a neighbor), you may be able to pick up a great building site for a reasonable price.

Consider a so-called problem lot — a hillside, narrow, or in-fill property. Generally, these types of lots are not as desirable as others, so they don’t sell as quickly and often go for a much lower price. With the right plan and a capable contractor, however, a potentially difficult lot might be perfect for your new home.

Choose a canal or bay lot instead of ocean or lakefront property if you must have a waterfront site. These choices are usually less expensive but still water accessible. Plus, they provide great protection against inclement weather.

Buy low-maintenance building materials — vinyl siding and metal roofing, for example. Even if they are somewhat more expensive at installation, they will pay for themselves in the long run as you won’t have to repair, replace, or repaint.

Collect salvaged materials from demolition sites. Old barnwood, used bricks, and distinctive wood doors add inexpensive character to a home without exorbitant cost. Many times you can have the materials at no cost, as long as you’re willing to haul them away. Just be sure to check first with the owner of the building being demolished.

Splurge only on those things you truly cannot live without. However, don’t skimp on structural components or doors and windows — for the safety and security of your home, you’ll want to purchase the best you can afford in these areas.

Don’t overbuild for the neighborhood. A home that is better and bigger than any other in its area will not command a fair price at resale. Instead, the assessment will be colored by the lower-priced homes around it.

Keep the depth of your home at 32 feet or less. Any more than that and roof trusses may need to be specially designed, which can add significant dollars to the overall building cost. If you have sufficient land and want a larger house, consider adding width or additional stories.

If you really want ceramic tile or hardwood flooring but feel you can’t afford it right now, consider vinyl flooring. Vinyl makes a good underlayment, and the tile or wood can be installed right on top of it at a later date.

Choose a stock plan over custom-drawn plans. The savings in total cost are great and you can probably customize the stock plan to get exactly what you want.