Building a home is probably one of the biggest investments
you’ll ever make, so you’ll want to know where to put your money to get the
most value for your investment. Here are seven areas to consider.
LOCATION: You’ve heard the adage, “location, location,
location.” This is where to spend your money. You could build a home with great
design, with great features and finishes, but if you build it in the wrong
location or on the wrong lot, you could be in real trouble. Consider purchasing
the most expensive lot you can afford. Your long-term investment is more likely
to be sound.
DESIGN SERVICE: You can add enormous value to your home by
investing in the services of a competent designer and an interior design team.
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.
KITCHEN: Most buyers don’t complain about a kitchen being too
large, too much counter space, or too many cabinets. Spend money on the
kitchen.
FAMILY ROOM: Oversize, don't undersize, your family
room. Families tend to gather and spend time in the family room. If
you were to oversize any room, make this room a little larger than you think
you need.
MASTER BATH: This room is the owner’s retreat, a place to
relax and unwind. Upgrade your master bath’s size and finishes.
When you sell your home, this will be an important feature and provide a
good investment return.
ROOM SIZE: Make sure your rooms are large enough to meet
your needs. It’s very expensive to come back later and add twelve
or eighteen inches to a room because you’ve just
realized it’s too small. If you’re on a limited budget, it’s better to
hold off on some of the finishes than cut down the size of your rooms.
You can add finishes later, and the cost may only be slightly higher than
if you installed them during the initial construction process.
CLOSETS: Never underestimate the value of roomy walk-in
closet, linen closets, and laundry rooms.
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