If you're in the processing of building a new home, your head is likely cluttered with details. Floor plans, materials, upgrades, oh my! In order to create an ideal space and maximize your home's value, experts from Moen recommend asking yourself a few questions:
- Which spaces help drive resale value?
- How will my family live and grow in the home?
- Will it cost more to purchase and install in the future?
To help, consider the following suggestions from Moen.
Begin in the Bathroom:
Typically, homeowners upgrade in order to improve style and increase the functionality of a space. Americans, on average, spend 45 minutes in the bathroom each day, making it one of the most used rooms in the house, so the bathroom must be both stylish and durable.
Many new construction homes utilize prefab showers and tubs, so if you have your heart set on a large walk-in spa shower or freestanding tub, you can save thousands of dollars in the long run by upgrading your bathroom during the construction process. Installing shower seating, grab bars and multiple sprays offers accessibility, safety and relaxation as you and your family grow in the house.
In the Kitchen:
As the heart of the home, you'll spend most of your time with family and friends here, so this is one area that should be both functional and enjoyable.
Consider upgrading cabinets and appliances, as these are points of focus for future buyers and are expensive to replace down the road. Items in the kitchen that can help to increase your home's value include energy-efficient appliances, an island for increased counter space and accessibility, and smart home technology, such as a touchless faucet, which adds convenience and functionality to the kitchen. You'll thank yourself later for investing upfront in quality appliances and fixtures that stand the test of time.
Focus on Flooring:
You can't go wrong with wood floors, as they seem to never go out of style and blend with any décor. If money is an issue, install only in heavily trafficked areas, like the living room, kitchen, or foyer. Also, there are other stylish and durable options, including quality vinyl or laminate that looks like real wood. If you can afford it, and live in a cooler climate, consider radiant heat flooring. Not only will you notice the different, but so will future buyers.
Experiencing sticker shock as the upgrades start to pile up? Keep in mind these are integrated into your home financing. If you increase your loan by $1,000 to integrate some of the updates you desire – that's less than $10 a month based on your loan term and interest rate. Another way to look at it: if you buy one coffee per day, you're spending $63/month, $766/year or $22,995 over the course of 30 years. Put those dollars toward upgrades instead and your home value will thank you!
Source: Moen Incorporated