In a dynamic economy, many homeowners no longer think of their residence as their address for the next 40 or 50 years. Instead, they view it as a five- to seven-year investment. This is for two main reasons. First, people frequently relocate for their jobs, making a long-term stay impossible or financially foolhardy. Second, in strong real estate markets, the potential for a nice profit on a home sale after a few years of occupancy is very good.
So instead of building a home with an eye exclusively toward personal tastes, most people who construct a home today are thinking heavily about maximizing its later resale value. Increasing the value of your home involves making plans for its future. The price people are willing to pay for your home will be dramatically higher if you’ve incorporated features that will hold their appeal several years down the road.
Here are some ways that you can invest during construction in the future value of your home.
Architecture and design are notorious for grasping current trends, but getting too fixated on fads can leave a home looking dated later on. It’s very expensive to replace certain elements if they fall out of fashion. Things like the brick, stone, or siding used to cover the outside (or just the colors they use) are impractical to replace when trends change.
Think of what will never go out of style. Fences and ironwork at carnahanwhite.com have a classic look that will never seem out of place as other features evolve around them. Interior features like hardwood won’t ever wander off the fashion chart, either.
That doesn’t mean there’s no room for anything hip and new. Enjoy the amazing palette of interior paints available in stores today, and express your creativity as you wish. After all, those colors are easy to replace, and it’s unlikely that most buyers will keep your colors anyway.
The point is to decrease trendiness as you increase permanence and vice versa.
This goes along with permanency, but from more of a nuts-and-bolts perspective. Building a home with a fuel-sucking furnace of an older type can save money at the time, but your utility bills will scare off some potential buyers. It is worth the investment to install the most energy-efficient climate control, windows, insulation, and lighting you can afford at the time of construction. They all make great selling points later.
Of course, you can’t anticipate every green improvement that will come along before you sell, but you can certainly make some changes along the way to increase the home’s eco-friendliness. And it doesn’t hurt during a sales pitch to say that upgrades have been made because that tells the buyer that you’ve had an eye toward energy efficiency along the way.
Outside The Home
Before we get too much into landscaping for beauty, it’s worth noting that you can also landscape for energy savings. A large shade tree planted on the sunny side of your home will gobble up a lot of the sun’s heat, reducing your summertime energy expenditures. A green-minded buyer will appreciate this feature.
Of course, part of what makes that tree even better is that you’ve already planted it. An eco-minded buyer can plant as many trees as they wish, but those trees will need several years to begin making an impact. If you’ve placed them as soon as construction was completed, you’ve gotten a head start equal to the number of years you’ve been in the home.
As for the aesthetic value, trees and shrubs that are established, healthy, and mature can really draw a buyer’s attention. They’re thinking about how your trees will be great for decorating for Christmas, playing with the kids, or simply relaxing in the shade. Smaller shrubs and bushes help to soften the look of a home, keeping it from looking like a construction site.
When you build a home, there’s a lot you can do to increase its value for later sale. The key is to utilize those features during construction, when they’re cheapest to accomplish and when they’ve got the maximum time to impact the home’s value.