06 Mar Which Building Upgrades Increase Your Resale Value the Most?
Building a new home means making lots of decisions. Which floorplan should you choose? Should you refinish the basement now or save it for later? Does it matter whether or not you have granite countertops in the kitchen? How can you know which building upgrades are the best investment?
Apart from your personal preferences, there are a few upgrades that just make good sense. We generally find that you will see a return on your investment when it comes time to resell your home.
Upgrades that Add to Your Homes Resell Value
Here are things to consider when choosing your upgrades.
Keep things simple.
It is often tempting to see “fashionable” and “fancy” as synonymous, but more often than not, less is more. Most homeowners want to invest in a home that is simple, clean-cut, and easy to care for. Putting expensive carpet in the bathroom might seem like the “fancy” thing to do, but it requires a lot of extra maintenance, and extra maintenance turns off potential buyers. Likewise, with real hardwood floors that require constant waxing and treating. “Simple” equates to “less work.”
Don’t waste floor space.
Open floor plans are becoming increasingly popular in the homebuilding industry. Coupled with the “less is more” mentality, an open floor plan is a great way to make a smaller space appear bigger. However, there are some ways you can utilize that floor space to make it productive, rather than just pretty.
A great way to increase floor space functionality as well as increase resale value is to add a basement. This is not something you will be able to add-on after the build. If your budget does not allow for finishing, save that for another day.
Additionally, room flexibility is both valuable and efficient. Rooms that can be converted from office to guest room (and vice-versa) make the home much easier to sell down the line.
Pay attention to the kitchen.
Of all the rooms in a home, the kitchen has perhaps the most potential for increasing resale value. For many buyers, the kitchen is the first thing they take into account when viewing a potential home. They look for a low-maintenance, high-quality, and an updated look.
A great way to update your kitchen is to put in quality countertops and appliances that coordinate. If the cabinets, refrigerator, counters, backsplash, flooring, etc. all have a different color scheme or theme, the finished look will be off-putting to buyers. Try to stick to a specific “look.” Stainless steel tends to have a clean, more modern finish to it, as do light colors and granite countertops.
Build with all ages in mind.
“Age-inclusive” does not necessarily mean you need to avoid trendy styles when updating. What it does mean is that resale value is increased when the actual build of the house is catered to more than one age group. By this, we mean that rooms and appliances (such as showers) should be easily accessible to the elderly.
A great way to make a home senior-friendly is to build at least one bedroom and bathroom on the main level. If you are building modularly, then you can also add another room to an existing home. It can be difficult to find a house that can shelter a variety of ages, so building one will certainly increase its resale value.
Looks are not everything. To boost resale value, invest in reliable, good-quality heating and cooling units, lighting, etc. If you can honestly tell buyers that the home comes with a trustworthy, energy-efficient HVAC system, it will probably increase their interest in the investment.
More for Less
Building upgrades don’t have to cost you an arm and a leg. Whether you are building a custom modular home or upgrading an old one, consider simple, cost-effective ways to boost your resale value and help you get the most from your home.
At Next Modular, we know that choosing a home is likely one of the most important financial decisions you will make. As an experienced modular home builder, we are committed to being your guiding light throughout this process. If you need a Modular Home built near Goshen, Indiana, or if you have any further questions regarding resale value, call us today.