“A good Realtor knows what features in a new home are expenses and which are investments … and remember, most builders think every feature is an investment.”
A Realtor with new home experience should be able to help offer guidance on what elements in a home will really pay you back over time.
Newer neighborhoods tend to group housing based on size, style and finish level. It is often tempting to upgrade to upgrade your new home, but make sure the upgrades are consistent with the rest of the neighborhood.
If you are in a section of a community where the most common siding is vinyl or hardiplank, then upgrading to brick may not be the best investment. Is brick nice…of course it is. However, a brick gable or even a brick front may suffice if there are few brick homes in the neighborhood. Know that homes values, over time, regress towards the middle. Being a statistical outlier is never the best option.
This overbuilding can work in the opposite manner as well. If the majority of homes in a community have upgraded luxury baths, you may be overly punished if your home lacks the accepted norms of the neighborhood. If you are in and amongst 4000 SF brick homes, a 3 car garage may be the market expectation…
A good NEW HOME agent should know neighborhood norms and be able to help guide you to the correct balance of features and costs.
Other Articles on New Home Values
- Examining the Dollar Per Foot Metric
- Beware the 'Unique and Expensive'
- What Does the Lot Offer?
- The Popular Plans
- What Does it Cost to Build a Home?
- Hardwood Floors
- Aging in Place
- HOA/POA or Civic Association? Does it Matter?
- Builder Warranties - Mandatory or Elective?
- Track Versus Custom Builders
- Which Comes First? The Purchase or the Sale?
- What Does 'Stick Built' Mean and Why Does it Matter?
- EarthCraft Homes and Appraisals...Friends or Foes?
- Lot Pricing in the Metro
- Grey Oaks and Nuckols Road
- Look at Models
- Bad Lots