Where should you spend your money to get the most value on your custom home?
Building a home is probably one of the biggest investments you’ll ever make, and it is crucial to put your money where you will get the most quality. This is true in terms of market appreciation, but also designing a space for the way you want to live today, tomorrow and your future.
To get the most value on your custom home, there are seven key areas to consider when planning your budget.
We know the saying, “location, location, location.” However, when building a custom home this becomes more than just a tag line. This is the first stop on your journey and where you want to invest your money wisely. Before you put a dime down on a vacant lot, do your homework and ruminate these important factors:
- Do you have or are you planning on having kids? School districts become a very far-reaching part of the decision-making process.
- Are you on a budget? Are property taxes affordable? Scrutinize this aspect, especially if you are working within a monthly stipend.
- Everyday necessities, do you need access? Do you want to be close to shopping, parks, town? Does the thought of having to make long trips to the grocery store sound like a nightmare? Or, have you been dreaming of country living? Being close to town is not something you’re worried about?
These are all critical choices to keep in mind when you are searching for your perfect property.
If your home builder does not include interior home design services within their contract, it is highly recommended to work with a knowledgeable home interior design team. An interior designer works as a liaison between you and your builder. They help to create a functional design, utilizing your aesthetics. Designers will advise and guide to help you conceive of a floor plan, furniture placement, colors, fixtures and finishes, just to name a few. Not only will you enjoy the splendor of a fabulous home, you will find a greater return on the money you spend for these services at the time of resale.
The family room is an area where you don’t want to go too small, you want to think big. Families tend to gather and spend the most time in this space. This is where the kids hang out, a place to watch the game or a movie, a room for large holiday gatherings, but comfortable enough for a lazy Sunday afternoon. This is where you think function and form. Make this room a little larger, rather than smaller, than you think you’ll need.
This is your ultimate retreat, a place to relax and unwind. Think of it as your own personal spa day, at home. Here is where you want to upgrade your bath size and finishes. Envision heated floors, a soaking tub, rain shower, counter space and storage, all in your dream luxurious bathroom. Plan on spending your money on this oasis now, rather than later. Especially since a bathroom remodel can average $10,000. Plus, if you decide to sell, a master bathroom provides an excellent investment return.
When building your home, you want to ensure that each of the rooms are large enough to meet your needs. It is cost prohibitive to come back after your home is finished to add more square footage, if you realize after the fact it is too small. If you’re on a limited budget, It is better to hold off on some of the finishes, rather than cut down the size of rooms. Things such as lighting and painting can be changed after you’ve moved in and for relatively low cost and minimal disruption. Where-as changing room size can be very expensive and messy.
Although relatively small in square footage, this is an area that should never be underestimated. This is your home you are building, think of roomy walk-in closets, a linen closet and laundry room. Do you live in an area where it is cold? Coat closets are probably something you’d utilize. Just take into consideration where the basic necessities of life will go and the storage that is needed to house them.
Spend money on the kitchen! This is often the hub of the home, the center of activity. Kitchens are important. Whether you are a chef in the making or a person who can’t boil water, a kitchen is paramount.
This is an area where you need to think about how you utilize your kitchen now. Do you cook a lot, do you need counter-space and room to work? If so, a spacious and well-appointed kitchen is for you. On the flip-side, maybe you spend as little time in your kitchen as possible. Then your kitchen design and layout can be simpler.
Regardless, of your cooking style, look for quality when designing your kitchen. You should stay on budget, yet not be overly consumed with trying to save money. Well-made cabinets and drawers will be long-lasting, dependable and provide functionality for decades. Choose counter tops made of hard, durable and high-quality material, such as granite. There are a variety of colors and selections available.
When choosing appliances, don’t skimp. You don’t have to purchase top of the line, but do consider a well-made product that will last you for years to come.
There are numerous additional features that you can add to personalize your kitchen, such as; a double oven, convection microwave, pot filler, hidden pantries, a center island with an additional sink.
Just remember, tailor your kitchen to your tastes and what you use it for. But also consider, when there is food involved, people tend to gather. So, even if you don’t use your kitchen to cook in, it is a room that deserves special treatment.