New Build or Money Pit?

Are you thinking about building a new home from the ground up? It’s so exciting to walk through a model home in a new development and fall in love with all the finishes and interior design that the builder uses to entice you.  It’s important to remember that when you pick out the home you are going to build, the ultimate price will depend upon how many upgrades and customizations you add on. The starting price of a new build is really like the economy base model of a car. There’s no frills, just the basic, cheaper finishes (probably not the ones you saw in the model home) that may not appeal to you.

If you can afford to add some upgrades, there are a few that are well worth the money and may bring a higher return on investment when it comes time to sell.

·        Kitchen upgrades, whether it be granite or quartz counter tops, or better-quality cabinets or appliances, are always a good investment. The kitchen is the heart of any home and if any room in the house deserves a little extra love and attention, it’s the kitchen.

·        Upgrade your flooring. Wood flooring is a beautiful and durable choice and is always appealing to new buyers. If you choose to put carpet in, opt for better quality padding and carpeting. It lasts longer and shows less wear and tear over time plus you’ll get a better selection to choose from.

·        Ceiling fans are a great, lower cost upgrade. There are so many pretty options to choose from and will be a welcome addition to any room during the hot summer months.

·        If you can afford it, pick out one or two upgrades that make your house your own. If you are a great chef, buy that high end, six burner gas stove for the kitchen. If you love to relax in a luxurious bath, pick out a tub that makes you feel like you’re in a high-end spa. You’ll be living your life here so treat yourself if you can!

It’s also important to remember to budget for all those items in a new home that we may take for granted such as window coverings, lighting, wall décor, landscaping. You are basically starting with a blank slate so take your time and choose wisely. Your investment and good choices will pay off in the end if you choose to sell your home later.