Consider Resale Value
Who thinks about resale value when building a custom home plan? While it may seem odd for a person who’s building a new home to think about selling it, it’s important to address what you want and what the market
wants even in the initial planning stages. If you’re not careful, you may design your dream home and find that no one else will buy it later!
Typically, people who build custom home plans are financially sound. For the most part, they are able to build beautiful, quality homes because they’ve been making good financial decisions for many years. As you go through your design process, be certain you get wise counsel from your builder, designer, and possibly a real estate salesperson to be sure you’re not building a residential home that only your family will like. Balance your wants and needs for the home of your dreams with potential market appeal for future resale.
What Does The Broader Market Want?
You are probably not building your dream home as a spec home (a home without an end buyer before construction begins, generally built with an intended profit), so be careful not to include design features that are not what the broad market is asking for. An experienced builder will guide you through the design process and help protect
your investment. Once you have the facts, it’s your responsibility to make your own design decisions. If you proceed to design and build a home that only appeals to a very narrow market, then at least you are aware of that (and the consequences) in the early stages of the design process.
Sometimes homes linger on the market for a long time because the homeowner made design decisions without taking into account the long-term resale effects. Ultimately, try to find a good balance between what you want and what the future home older may like.
Custom Home Plans Q & A
It is always important to ask your builder questions about your custom home plans. Always make sure to communicate effectively with the building contractor to ensure quality assurance. For more information, check out BOLD’s FAQ page. Our team is always here to answer any questions you may have during the entire new construction process.