The new housing market is on the rise in Colorado. It is a great time to do a new home build if that is something you have always wanted to do. Having the choice to buy a house or build a house is something to consider. Most people have at one time or another played the game of building and designing their own home. If you can build your home, how far do you think you should go with upgrades? Building the home is one thing but starting to outfit it and bring the interior to life is where the upgrades can come in.
Never Go Out of Style
When designing the new home, selling it is probably not a thought. However, equity and cost is. While wanting to save on building costs remember to consider how much the home will be worth once the construction is complete. Not the cost of building but what it could be sold on the market as. If possible, go with choices that seem to never go out of style. An example would be using hardwood floors as much as you can. The other example is cabinets and hardware. If possible go for higher end cabinets with modern hardware. Not only will this look better but it will last longer and help with resale value if needed.
Cost and Value
It may seem easier to think of improvements that could be done after the build or further down the line, especially if you are trying to keep building costs down. Likewise, looking at new appliances may seem daunting with the cost of them. Try not to think of these costs as a one time expense. When building you can roll the cost of new appliances, countertops and other upgrades into your mortgage. You will actually be paying for upfront equity over the time of your mortgage.
If you and your family have decided to do a new home build, get everything you can for your money’s worth. Things that seem like a simple project down the road, like upgrading sinks or fixtures, could be done at the time of build for less hassle to you. Contractors are paid to clean up what they build and do a professional job at instillation. Save yourself the hassle and fuss of doing it yourself at a later time when it could be done now at less stress to you. Remember, you are going to pay for the construction and build but over time in the form of mortgage payments. Get as much equity as you can quickly back into your new home build.