We’ve talked about a lot of the questions that home builders/homeowners need to process at the onset of their project — such as, “How long am I planning to live in this house?” A lot of times, life happens quickly and unexpectedly, and best-laid plans give way to job changes, family demands, hot housing markets and more.
Regardless of whether you’re thinking of making a quick buck, or maximizing your investment long-term — here are some key things to keep in mind for getting the most profit off your home:
1. Incorporate desirable elements into your structure.
“Your home must appeal to the masses, not to a niche. Find out which homes in the area are selling the best — bedroom counts, kitchen design, and master bedroom/bathroom design. These factors are universally important for selling quickly.”
Features such as covered entryways/porches/porticos are loved for their visual appeal, as well as the practicality of people being shielded from the weather. Open floor plans are well-loved for their versatility and flexibility.
Finished basements are a huge plus, adding “secret” square footage. Laundry rooms are a must, but you’ll get the most mileage out of smart laundry room placement, such as a combo mudroom/laundry room, an upstairs laundry room or a laundry room with a chute from upstairs.
2. Take time to create (and maintain) landscaping.
The House Designers say:
“Landscaping can make or break a home’s curb appeal. Tangled trees and vines can obscure street views and even darken your home’s interior. Investing in your landscaping is a place where you could see the biggest return. Properly maintaining and manicuring your home’s lawn isn’t difficult and really helps at the time of resale. Making sure the trees around your house are in optimal health could save you and future homeowners on home repairs.”
3. Invest in energy efficiency.
Not only is “going green” good for the earth, it’s also good for the pocketbook with lower energy costs — which continue to rise. And when you’re selling your house, it’s pretty great to be able to tout energy savings like these:
- Refrigerator: Save $15 per year by switching from an average refrigerator from 2001-08 to an Energy Star certified model, $145 in savings compared to an old clunker from the 1980s.
- LED lightbulbs: It costs $32 to run a single incandescent light bulb for 5 hours a day, for two years; it’s only $12 for an LED bulb (and $9 of that is from buying the bulb itself). Since the average American home has 45 lightbulbs, that could result in up to $900 savings in two years.
- Insulation: It’s pretty incredible how spending just a little more on air sealing and insulation ($0.64-$1.19 per square foot, on average) can yield serious savings. By ensuring that a house is properly insulated and sealed from outside air flow, homeowners can save 15 percent on their heating/cooling costs — 11 percent of total energy costs.
- Smart thermostat: Devices like Nest or Google Home allow homeowners to spend less on heating and cooling their homes by setting schedules and accessing HVAC units remotely at any time. Back in 2015, Nest Labs shared that users saved “10-12% savings on heating and 15% savings on cooling, or about $131-145 in savings a year.”
4. Pick your homesite carefully (if you can).
The most important factor in real estate, many experts say, is location. So when you’re in the land-buying phase, keep an eye on the area. Is it growing? Are there plans for further development? Are there restaurants and grocery stores and parks?
Features like these — particularly in a place rife with future development — is key, because even if buyers don’t love everything about your house, they could still pay top dollar in order to be in a desirable neighborhood. Choose wisely.
But, as Realtor.com says, “Even if there are development plans in the works, don’t bank on that to prop up property values; construction can stall or be scrapped entirely. When calculating your home’s future worth, focus on what exists now.”
Want to make the most of your investment in homebuilding?
Call WillowTree today to talk to our talented homebuilding team, and come away with a home that will not just be a joy to live in, but a fantastic investment.