Building a new home requires making many decisions. You have to choose which floor plan you want, the lot, and, of course, the upgrades that you want to incorporate into your new home. Choosing your upgrades can be a difficult process. You want to make your new home as nice as the model, but you quickly realize that upgrades can drastically increase the price of the home. Therefore, you want to make sure the upgrades you choose give you the best value.
Before choosing the upgrades for your new home, there are some important things to consider:
- What is your budget? Know how much you can spend on the home and how much that leaves you for upgrades.
- Consider how long you expect to be in the new home. If you may move within a few years, you may not want to spend extra on upgrades. If you think you will remain in the new home for several years, then you can feel more comfortable spending a little more on upgrades.
- Know what is important to you. Price out the upgrades that are most important to you and subtract from your total budget.
- Know the area. You don’t want to upgrade your new home so much that it is over-the-top for the neighborhood.
- Keep resale in mind. (More on this below.)
The following can be good upgrade choices to add value to your new home.
1. Kitchen
Perhaps the most popular area of a new home to upgrade is the kitchen. Upgrades here tend to pay off at resale. The upgrade possibilities are almost endless, and include the following:
- Cabinetry. Upgraded cabinets are a good choice. There are several options here. You can upgrade the basic cabinetry, add glass-front cabinets, or extend the cabinets.
- Countertops. Granite is an upgrade that tends to keep its value. Granite countertops are popular and can create a beautiful kitchen.
- Appliances. Upgrading to stainless steel or energy efficient appliances is another good option in the kitchen.
2. Flooring
One option to consider with a new home is upgrading to hardwood floors. Hardwoods tend to be an upgrade that have good value, certainly over linoleum and even over tile. Having hardwood floors throughout family and living areas adds an elegant touch to your new home.
3. Crown moldings
Crown mouldings are another upgrade for your new home that can be a great value. Adding crown moldings is not that expensive and it greatly improves the look of a room. If you can afford to extend crown moldings throughout the new home, consider that upgrade.
Building a new home and choosing the upgrades can be a fun process. However, it is important to not get carried away when selecting options. You can easily go over your budget or price your home too high for the neighborhood. Focus on what is important to you and the three areas that tend to pay off at resale.