People who engage in designing and building a new home often get so caught up in the whirlwind of activities that they rush past key decisions; decisions that can cost them dearly when and if they decide to sell their home in the future.
Here are three key parts of the home building process you need to spend the most time on in order to ensure the best resale value:
Get a Good Lot
In real estate, location is literally everything as far as home value is concerned. Whether you decide to build in a new neighborhood or some other piece of land, make very, very sure the lot you pick is a good one.
What to look for?
Size always matters, so get the largest lot that also fits within your lifestyle choices.
The slope and shape matter too! Oddly-shaped lots are a big turn-off and slopes mean water issues.
The lower the volume of traffic in front of your lot, the better.
Trees are green (for money) when it comes to resale value.
Avoid a lot that requires you put your home right up against someone else’s
Parking is always, always, always important to buyers
Understand exactly what easements your lot has on it and how it will affect your life
Think about where your home will be situated on the lot and any views you may have
Many times, home buyers in a hurry to get in their new home will make concessions when it comes to picking the perfect lot. This single decision can mean the difference between a few thousand dollars and a long resale process and tens or even hundreds of thousands and a fast deal.
It really pays to be patient, explore your options, and get the best lot available for your new home build.
Don’t Skimp on Materials
Costs and your budget should always be a big driver in your home build, but it’s very easy to slide down a slippery slope when it comes to downgrading in individual design choices. Simply put, quality always lasts longer.
For example, if you decide to cut costs in your kitchen by going with a lower-priced vinyl floor over solid ceramic tiles, not only will you feel the difference as you live in your new home, but the buyers will notice too - especially as it ages over a few years.
What areas should you definitely not skimp on?
Floors
Kitchen cabinets
Light Fixtures
Tile backsplashes
Toilets and bath fixtures
Windows and doors
Roofing
Go cheap and you’re really just robbing yourself of resale value when you decide to market your home.
Don’t Get Weird
It’s a big temptation to have your builder create that special “man cave” you’ve always dreamed of with that built-in hot tub in the basement, but it’s an idea you should probably reconsider.
Most homebuyers themselves are thinking about resale value too. They’re also most often looking for mainstream, yet trendy features that look and feel, well, “normal.”
Odd design choices usually turn off buyers immediately. These kinds of choices tend not to age well and, when it comes down to your home versus another that doesn’t have anything odd about it, buyers psychologically feel better about committing to homes without “that one weird room.”
Where do people most often go wrong?
Shared bathrooms
Kitchenettes
Home bars, game rooms, and “man caves”
Bedrooms that are not really “legal” bedrooms
Not enough “openness” or light in major rooms
Lofts as bedrooms
Rooms or areas with wasted space
Closed-in garages
Simply put, keep it vanilla. Sure, make your personal design choices in areas like paint, stone accents, and flooring, but resist the urge to add a working fountain in your main hallway.
Building a home is a wonderful experience. That said, you need to sweat the small stuff when it comes to location and design choices. Choosing an experienced builder who cares about your home value will help too. Get in touch with me today to talk about your home project.