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  • New Construction Must Have Options

    Those that bought a new construction home and got to choose features, options, upgrades, etc. what are must have options that will hold their value or make your home more marketable when selling?

     

    More rooms, 3 car garage, finished basement, hardwood everywhere, deck, etc.? I'm possible thinking about not getting a deck and finished basement because I think I can build them cheaper on my own from a contractor than the home builder. Thoughts?

  • #2
    Everyone has their own preferences, but in purchasing our home 3 years ago, I had a couple 'must haves'.  First, primarily a single story home.  Second, a three car garage.  Third, a first floor master bedroom.  My wife is not a fan of the hardwood in the bedrooms because of the floor will feel colder relative to carpet, and we don't wear shoes in the house.

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    • #3




      Everyone has their own preferences, but in purchasing our home 3 years ago, I had a couple ‘must haves’.  First, primarily a single story home.  Second, a three car garage.  Third, a first floor master bedroom.  My wife is not a fan of the hardwood in the bedrooms because of the floor will feel colder relative to carpet, and we don’t wear shoes in the house.
      Click to expand...


      I was asking more for resale value and things that hold their value, not necessarily personal preference. While I may prefer shag carpet, chances are it will need to get replaced before selling the home.

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      • #4




        Those that bought a new construction home and got to choose features, options, upgrades, etc. what are must have options that will hold their value or make your home more marketable when selling?

         

        More rooms, 3 car garage, finished basement, hardwood everywhere, deck, etc.? I’m possible thinking about not getting a deck and finished basement because I think I can build them cheaper on my own from a contractor than the home builder. Thoughts?
        Click to expand...


        It isn't a good idea to purchase a home unless you plan to stay for years, and fashions change over time. The must-have options are the ones that you will enjoy the most.

        This is especially true for new construction. You pay a premium (about 14% last time I did the research) for this, but you won't be able to recoup that (on average). Nevertheless, new construction is worth a premium to the original owner because he/she can choose all of the bells and whistles that matter to him/her, and maintenance hassles will be fewer.

        Given all that, just don't build a home that is far more valuable than the surrounding homes, and pay attention to neighborhood norms to the extent that certain choices don't matter to you. If everyone else has a 3-car garage and a finished basement, and you like those features, then you should probably go that route.

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        • #5







          Everyone has their own preferences, but in purchasing our home 3 years ago, I had a couple ‘must haves’.  First, primarily a single story home.  Second, a three car garage.  Third, a first floor master bedroom.  My wife is not a fan of the hardwood in the bedrooms because of the floor will feel colder relative to carpet, and we don’t wear shoes in the house.
          Click to expand…


          I was asking more for resale value and things that hold their value, not necessarilt personal preference. While I may prefer shag carpet, chances are it will need to get replaced before selling the home.
          Click to expand...


          You might want to ask over on gardenweb. The posters there are (way) more obsessed with their homes than we are with financial matters: http://ths.gardenweb.com/forums

          Also, experienced local realtors will know what holds value and what matters to buyers.

          From watching a lot of HGTV I can tell you that buyers of all stripes and in all locales seem to like open floor plans, and that you should spend your money on the kitchen and bathrooms (in that order).

          Comment


          • #6







            Those that bought a new construction home and got to choose features, options, upgrades, etc. what are must have options that will hold their value or make your home more marketable when selling?

             

            More rooms, 3 car garage, finished basement, hardwood everywhere, deck, etc.? I’m possible thinking about not getting a deck and finished basement because I think I can build them cheaper on my own from a contractor than the home builder. Thoughts?
            Click to expand…


            It isn’t a good idea to purchase a home unless you plan to stay for years, and fashions change over time. The must-have options are the ones that you will enjoy the most.

            This is especially true for new construction. You pay a premium (about 14% last time I did the research) for this, but you won’t be able to recoup that (on average). Nevertheless, new construction is worth a premium to the original owner because he/she can choose all of the bells and whistles that matter to him/her, and maintenance hassles will be fewer.

            Given all that, just don’t build a home that is far more valuable than the surrounding homes, and pay attention to neighborhood norms to the extent that certain choices don’t matter to you. If everyone else has a 3-car garage and a finished basement, and you like those features, then you should probably go that route.
            Click to expand...


            I don't really want to buy new but the area is saturated with almost no land left so it's either buy 10yr old home that needs work or buy new. I don't want the headache nor have the time to renovate.

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            • #7


              I don’t want the headache nor have the time to renovate.
              Click to expand...


              I'm with you there. That's why new construction is worth a premium.

              However, building can be a bit of a headache as well. There are a million and one decisions to make, and you ought to supervise the construction to the extent that you can. Mistakes are often made during construction, and if you walk the site frequently you will be able to catch them while they can still be corrected.

              Comment


              • #8










                Everyone has their own preferences, but in purchasing our home 3 years ago, I had a couple ‘must haves’.  First, primarily a single story home.  Second, a three car garage.  Third, a first floor master bedroom.  My wife is not a fan of the hardwood in the bedrooms because of the floor will feel colder relative to carpet, and we don’t wear shoes in the house.
                Click to expand…


                I was asking more for resale value and things that hold their value, not necessarilt personal preference. While I may prefer shag carpet, chances are it will need to get replaced before selling the home.
                Click to expand…


                You might want to ask over on gardenweb. The posters there are (way) more obsessed with their homes than we are with financial matters: http://ths.gardenweb.com/forums

                Also, experienced local realtors will know what holds value and what matters to buyers.

                From watching a lot of HGTV I can tell you that buyers of all stripes and in all locales seem to like open floor plans, and that you should spend your money on the kitchen and bathrooms (in that order).
                Click to expand...


                Good advice, thank you!

                Comment


                • #9





                  I don’t want the headache nor have the time to renovate. 
                  Click to expand…


                  I’m with you there. That’s why new construction is worth a premium.

                  However, building can be a bit of a headache as well. There are a million and one decisions to make, and you ought to supervise the construction to the extent that you can. Mistakes are often made during construction, and if you walk the site frequently you will be able to catch them while they can still be corrected.
                  Click to expand...


                  Sorry let me clarify, when I say build I mean there is a new neighborhood under construction where I can pick from 4 or 5 home styles and choose interior options, sunroom, deck, etc. I'm not buying a random plot of land and building a home from scratch.

                  Comment


                  • #10
                    Thank you for the additional clarity.  Given you choices, I would focus on the reputation/quality of the builder.  Where I live, there were five different builders, three of whom I thought didn't do good quality construction.  Of the other two (used one, though bought spec), both were good, though they only built a few homes within the neighborhood, 8 or 10 of the 100'ish total.  Size- Don't buy the largest home in the neighborhood, that is much more difficult to sell, unless it is for sure your 'forever' home.  Features-  Don't go crazy here relative to the rest of the neighborhood; again it will drive up the price per square foot and make a future sale more difficult.  This is especially true with 'outdoor' features; extended covered patios, outdoor experiences as they both add to cost while not being counted as home square-footage.  My in-laws in picking out upgrades for their new home being built focused upon a couple of rooms, the kitchen with upgraded granite, cabinets, backsplash, sink.  Also the living room with an upgraded ceiling fan, double encased window molding, transom (sp?) windows, and accent wall.  Upgrades add up quickly, so understand and have an overall plan.  Though the undercounter lights in the kitchen may be cool, its probably not worth the extra $700 or $800 the builder wants to charge.

                    Comment


                    • #11
                      We're closing on our new custom home in 2 weeks. Strictly from the appraisal, what mattered was sq footage, # garages (our 4th space added $10k), # fireplaces, deck and patio and if they were covered, outdoor fireplace, lot size. I'm guessing what will hold their value over time are these things. All the stuff that gets picked out can be changed for a few thousand dollars. Obviously, if you have an incredibly unique home design different than everyone else, that may hamper resale just because you'd be appealing to fewer buyers.

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                      • #12
                        Yeah I'm expecting to get nickel and dimed on upgrades so thinking I could always add a deck and finished basement later for cheaper than what the builder charges.

                        I need literally 1 or 2 bedrooms. These houses come with 4 maybe 5. Builder is trying to tell me to get 5 bedrooms for resaleability. I think its baloney. Opinions?

                        I've heard add garages space costs roughly 10k per bay so seems like that was a fair price on your build.

                        Comment


                        • #13
                          Had the same experience through in-laws on a third garage, I believe the builder was asking like $8.3K.  If you really only need/want two bedrooms don't listen to the smoke they are blowing.  A higher end home with five bedrooms is more difficult to sell (you have a small pool of potential buyers) versus four bedrooms.  If you really need one to two bedrooms and it is not a forever home, I would consider a secondary purchase and find some good contractors to make improvements.  Depending upon the area, you could go the townhome/condo route also.

                          Comment


                          • #14


                            Builder is trying to tell me to get 5 bedrooms for resaleability. I think its baloney.
                            Click to expand...


                            Definite baloney.

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                            • #15





                              Builder is trying to tell me to get 5 bedrooms for resaleability. I think its baloney. 
                              Click to expand…


                              Definite baloney.
                              Click to expand...


                              That's what I figured. Trying to upsell me stuff I don't want or need.

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