New Construction Upgrades That Add Value to Your Home (2023 Updated)
There are so many reasons to choose a new-build construction for your home. For instance, it means you get to pick your ideal floor plan, countertops, flooring, and fixtures that suit your personal taste. Plus, it ensures that everything is up to code, and allows you to be the very first to fill the space with memories. Not to mention there will be significantly less upkeep than with an older home.
A common misconception, however, is that when purchasing a new-build home, you won’t have to do any work or updates to maintain its market value. While new construction homes will certainly hold their value for longer, it’s important to ensure your home stays clean, safe, efficient, and yes, stylish.
Despite the ongoing pandemic, real estate prices are continuously rising as people want comfortable places to call their own. Similarly, with more time spent at home, homeowners are considering previously delayed renovation projects to give them a hobby and keep up with market trends.
When it comes to home updates however, not all construction changes offer large returns. It’s important to consider not only your personal taste and preferences, but what the majority of homeowners are searching for, and which projects will add value and hold it for the longest.
Ultimately you want to pick upgrades that will result in a high ROI that similarly, won’t break the bank. It can be an overwhelming process trying to decide which upgrades are worth it, that’s why we’ve compiled a list of the best 2021 home upgrades that will add value to your home. Plus, which upgrades to avoid.
Table of Contents
Why Choose A New-Build Home?
Older homes can have plenty of charm and character but with that comes potential trouble, think creaky floorboards, faulty electrical wiring, and dated appliances to start. There is also the added cost of trying to turn an older house into your dream home.
Having a newly constructed home that’s turn-key comes with tons of perks. Some of those include upgraded energy-efficient appliances, open floor plans, smart features, and custom finishes designed to your particular needs and taste. Moving into a brand new Revere Homes custom-designed house, for example, means everything from the wall color to the kitchen backsplash is completed upon your arrival. You get to spend more time unpacking and enjoy your new home rather than having to immediately start worrying about the time and cost it will take to make your house a home.
Understanding Types of Upgrades
Home updates can be divided into two categories, structural and non-structural. Non-structural updates are not as costly or crucial as structural and are cosmetic, like paint color, fixtures, and handles, landscaping, or window treatments. Structural upgrades however are fundamentally linked to the structure and integrity of your home. Things like floor plan layouts, additions, or HVAC systems.
While both these categories will help add value to your home and are important for a high ROI, structural updates need to be planned far in advance and require hiring a professional whereas non-structural upgrades can be done nearly anytime and often DIY’d.
Construction Upgrades That Add Value To Your Home
After months (or years) of searching for the perfect home, you finally found one, congrats! Once you move in the last thing you probably want to think about is making new home upgrades. The benefit to a new-build home is that you have more time to settle in without needing to do any repairs or updates.
After a few years whether you plan on selling your home or not, it’s time to tackle some upgrades to ensure your home keeps its resale value. With so many styles and types of construction or decorative updates, it can be difficult to decide what’s the best option for you. The key is to prioritize big-ticket items and avoid spending your hard-earned money on upgrades that won’t significantly contribute to your home’s value. Similarly, decide what projects you can DIY or tackle later on.
While new home upgrades will vary based on your current home, your personal style, and your budget, there are some universal updates that will guarantee to add value to your home. To help you pick the right ones for you, let’s look a closer look at some of the most popular home upgrades.
We’re not entirely sure when carpet went out of fashion but we can understand why. Carpets are great in bedrooms to ensure your feet are cozy from the moment you get out of bed, but they can get dirty easily, feel dated, or be difficult to clean. This is especially true if you have pets or young children. Hardwood floors, on the other hand, are much more durable, easier to keep clean, and give your home a modern, seamless look. Many homeowners want hardwood floors that extend throughout the main floor of a house, if you’ve purchased a new-build house you likely already have this feature.
Replacing flooring in a home can be a major project, making living during the renovation process a little difficult. This is something to consider if you’re moving into a home without this feature as you might want to renovate before you actually move in.
Whether it’s authentic, engineered, or laminate hardwood flooring this is an expense that will definitely pay off in the long run.
If there’s one non-structural upgrade that can immediately transform a space it’s tilework. Whether it’s a crisp kitchen backsplash or bathroom floors, updated tiles instantly elevate the look and feel of a space. However, the cost of tiles and labor can add up quickly. When adding tile upgrades to your home you should pick one or two key spaces. For example, the master bathroom is a great place to stagger tiles on the floor or in the shower for a luxe look at a more affordable price.
When adding tile work for the resale value it’s important to pick a subtle pattern or neutral color to enhance a space, not overpower it. You don’t want to be overly bold or choose something that’s specific to your personal taste.
You don’t necessarily need to purchase a brand new home with a built-in basement. If not, you should definitely plan on finishing it before trying to resell. High-income buyers specifically seek homes with built-in basements. Finished basements not only add extra square footage to a home but by doing so, bump your house up into another price bracket.
While an unfinished basement might offer storage space or a simple rec space, a finished basement offers endless possibilities. You can use it as an office, guest suite, home theatre, gym, or even a rental unit. This way you get great use out of the space years before selling.
If this upgrade isn’t within your budget, or you’d rather finish this project at a later date, you can do all the basic work needed to get started. This includes roughed-in electrical and plumbing, adding or removing walls, and having them properly insulated. That way, even if you choose not to completely decorate or finish your basement, it will be ready for potential buyers or your family down the line.
Open Plan Kitchen
Today’s most popular homes nearly all have one thing in common: open concept floor plans. Layout designs that feature open living rooms, dining rooms, and kitchens are favored by buyers as they give the illusion of more square footage, not to mention they’re great for entertaining. With these open floor plans, the kitchen becomes the primary gathering place and focal point of a home.
Almost every expert will tell you that the kitchen is one of the most important parts of a house (for both living and reselling) and it’s one of the biggest aspects potential buyers will consider when determining whether or not your home is worth its asking price. With that being said, kitchens are also notoriously expensive to renovate. The benefit to purchasing a new-build home is that kitchens will be brand new with energy-efficient appliances, quartz countertops, and high-end finishes. Over time you may want to add in upgrades such as a kitchen island, under-cabinet lighting, organized shelving, and drawer slides. The biggest thing to remember is the open plan living, if you don’t have that in your current home you may want to spend the kitchen renovation money on knocking down obstructing walls.
One of the biggest home construction trends for 2021 is the shift towards smart homes and the incorporation of eco-friendly materials. No longer is this a distant dream of the future, but a very real option for controlling everything in your home from security to heating. Making your home energy efficient isn’t just about having futuristic elements or helping save the planet, it’s also a great way to save money.
Spending extra cash on things like energy-efficient appliances, windows, heating, and cooling, or lighting will actually save you money in the long run as it cuts down your monthly utility bills. As home construction trends continue to lean more towards environmentally-friendly building, having a jump start on these energy-saving upgrades will make your home much more desired.
Home Upgrades That Won’t Pay Off
While there are tons of upgrades you can do to your home for a high ROI, there are many upgrades that will only cost you money, without the return. These tend to be non-structural features or things that can be easily dated. Anything related to personal taste or preferences like light fixtures, paint color, decorative tiles, or mirrors are not worth updating or investing a lot of money in as prospective homebuyers will likely swap these out for their own personal preferences.
It’s also best to avoid anything overly trendy, like colored appliances, accent walls, or elaborate crown molding as these will quickly become dated, making your house seem older and less aesthetically pleasing when it’s time to sell.
The Revere Homes Guarantee
Living in a Revere Home means never having to compromise on any detail that you’ve been dreaming about. Imagine a pristine home, never before dwelt in where you create all the memories, all the pencil marks on the walls, all the laughter, and life that fills the rooms is yours alone. We pride ourselves on being experienced, creative, detail-driven home builders that listen and care about the people we’re building a new home for. Ready to make your dream home a reality? Contact us today to get started.
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