THREE MISTAKES TO AVOID WHEN BUILDING A NEW HOME

Choosing to build your new construction home is a major decision.  Here are three mistakes to avoid should you decide to make your dream home a reality. new homes for sale


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1. Building too big. Around the world, Americans are known for their belief that, ‘Bigger is better.’  As reported in a CNN article, homes between 3,000 and 4,000 square feet comprised 21.7% of new homes in 2014, compared to 15.6% a decade earlier.  Today, huge homes—4,000 square feet and up, are all the rage.  Before you choose the best model home for your family, consider your true needs for space.  Outline which rooms will be used for which purposes keeping in mind if any can be multi-purpose.

Is a 5,000 square foot home really better?  Probably not, especially since maintenance, utilities and other costs are commensurate with the home’s total square footage.  The median size of a new single-family home sold in 2015 was 2,520 square feet.  According to the National Association of Home Builders, a home costs an average of $105 per square foot to build. By eliminating even 500 square feet in a home, you’ll save over $50,000.”  Asses your needs to determine if it’s better to select a layout that is perhaps between 2,000 to 3,000 feet so as not to build too big.

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2. Forgoing important amenities. While it’s important to ascertain which of your model home’s ‘extras’ are must-haves vs. wants, don’t sacrifice everything you really want.  For example, an option for a laundry room on the second floor might seem like a want vs. a need.  If you’re thinking about staying in your new construction home for many years, the second floor laundry might save you tons of back and joint pain in the future, due to hauling laundry baskets up and downstairs.  Costs for upgrades may seem like a lot when you see them on paper, but remember that they will amortized along with mortgage loan.  All hardwood floors, granite countertops, fireplaces and other upgrades have caused major heartache for homeowners who passed on these options when they had a chance to include them in their home’s design.  Prioritize the amenities and upgrades you need and truly want, and go from there.

3. Reel in resale value. When most Americans build their dream homes, they don’t intend on selling them.  They therefore make decisions based solely on their needs and tastes, without considering that life happens.  Real estate experts recommend assuming that you may in fact sell your home in the future.  Surely you’ve heard stories of people who built huge homes with specific decorative details—such as that log cabin-like great room with walls and ceiling completely covered in shiplap.  Not everyone wants to live in a log cabin style home all year long, so it’s unlikely to recoup an investment in such specific styles.  You don’t want to succumb to having to lower your home’s list price by tens of thousands of dollars to entice potential buyers to overlook such unique design.

Article by: Jennifer Elkow