Today we’re covering a big one—are you building to flip or resale? Or are you buying for life? Right off the bat let’s clarify that there’s no correct answer here. It’s really up to the needs and wants of you and your family and loved ones. But if you’re on the fence (pun intended), here are five things to consider:
- If you’re building for resale, you’ll want to pay more attention to what is sellable or what the buyer in the area will expect. You’ll want to do more research on industry trends and what homes are selling for, with the look and feel that you’re building. If you have a very specific look and feel in mind, and you don’t want to compromise this, then building to resell might not be for you.
- You’ll need to design and build for the area. Your design will need to be cognizant of the terrain, and the general price of homes in the area. If you’re building on less-expensive land, then you’re going to need to build a more basic home without the upgraded finishes. Some areas will warrant the installation of energy saving inclusions or environmentally friendly inclusions.
- As stated above, you’ll need to build for the price range that you’re in. You can’t over capitalize and you’ll want to stay away from the expensive inclusions as you won’t make this money back in the resale process.
- Think about the general, basic requirements that prospective buyers will notice if they’re interested in purchasing. Examples include access for wheel chairs, steps and grab rails for the elderly, the width of the doorways and washing facilities.
- Maximize bedrooms. This may sound like an odd consideration, but the size of the home and the amount of bedrooms is always a big selling point, no matter what the market. You’ll appeal to families and groups of all sizes if you can accommodate their needs.