FAQs -Where should you spend your money when Buying New Construction?
by Rick Cox
on Thursday, October 4th, 2018 at 11:30am.
Constructing a new home from scratch can be an exciting experience. Although, with the process comes a lot of questions about design, re-sale, and more that can make the process very stressful. The Rick Cox Realty Group has worked on new construction with numerous clients and has the expertise to know which questions to ask and how to guide their clients throughout the process. One of the most frequently asked questions throughout the process is, where should the client spend their money when buying new construction?
1. Lot...you can't change the home's location. Consider both the location of the lot within the subdivision as well as the topography of the land. You will want to think twice about resale if your home will be backing up to a road, or if it backs up to undeveloped land that could be sold and developed in the future. Larger lots, more secluded lots that back up to preserve areas, and cul-de-sacs often carry a premium. This premium is often worth the money, depending on how much it is. It is also important to consider the topography of the lot. Flat lots are the most desirable. Buyers will be wary of lots with a lot of slope, particularly if there is a steep driveway, an excess of steps leading up to the home, or a possible future drainage issue.
2. Roughing in unfinished space...if there is an unfinished 3rd floor/attic or basement in your new home, consider roughing in plumbing for a full bath or upsizing ductwork and HVAC to accommodate future finished space. Even if you don't plan to finish the space in the near future, it will be a consideration for secondary owners who may want to expand the home. Fully finished spaces are expensive, but rough ins are more reasonable. Some builders will even stack drywall in the space b/c bringing it in through narrow finished doorways or up and down stairs is cumbersome.
3. Floors...wood floors are highly desirable in main living areas and high traffic areas such as hallways and stairs. Most builders will include hardwood floors in some areas on the main floor, but not all. Even if carpet is included in the price of the home, you are paying for it! If it's something you think you will rip out and replace with hardwoods in the near future, consider doing it at the time of building. It's less hassle and better for resale.
4. Fireplaces...not always included in the base price, so be sure to ask! (or have your knowledgeable, experienced Realtor ask!) You don't have to go overboard with stone or elaborate mantles, but a gas fireplace is not that expensive to add. Even if it's not important to you, it is a deal breaker for many buyers who want at least one fireplace in their living space. 5. Recessed lighting...again, not something you want to do after drywall is added, as it will be more expensive to tear out and repair/repaint drywall down the road. Builders do not charge much to add recessed lighting at the time of the build, and light is the single most important considerations to potential home buyers.
If you have more questions or are interested in new construction, reach out to the Rick Cox Realty Group at 804-920-1738 or firstname.lastname@example.org