Newly built homes give my clients more choices to customize their home for their needs and lifestyle.
One of the most exciting features a new home affords is its design flexibility and opportunity for customization. For many buyers, this is the most enjoyable step in the building process; after dreaming about hardwood floors and granite countertops, they’re ready to roll up their sleeves and choose already!
But it’s not all fun and games. With so many things to consider — from budget constraints to future plans to lifestyle. Helping my clients choose options in a new home really comes down to two things: the bigger picture and transparency.
Budgeting
Buying a home is no small purchase, so it makes sense that and you would create a personal design budget. While this type of budget is great, it’s also short-sighted. It’s important for buyers to set a budget that is both personal and accounts for the value of the home relative to the community.
So many buyers add a thousand-dollar upgrade here and there and before you know it, the cost of the home is 5 to 10 percent more than anything else in the neighborhood. If you get to chose not a good lot and need to sell, you are at risk to lose money.
But budgeting isn’t just about how much a person can afford, it’s also about making a smart investment. Buyers put the majority of their budget into the areas of the house that are most difficult or costly to change, namely the bathroom and kitchen.
Because new homes come with different kinds of upfront costs than a resale home, a buyer’s budget may not allow them to do everything they want right away.
Sergio Lucena-Broker Associate at RE/MAX Select Group