When we meet with a new client, we begin our conversation with a simple question: “What are you looking for in your dream home?”
More often than not, they start by describing what they don’t like about their current home.
“We wish the kitchen were larger.”
“Our master bath is too small.”
“We need space for a home office.”
For many folks, there’s a belief that they can renovate their way out of their home’s shortcomings.
To be fair, there are certain advantages to upgrading your current home. You may have grown attached to your neighborhood. Perhaps it’s the school system that makes you want to stay. You have memories and a familiarity, and are nervous about waiting out the building process of a custom home.
These are all valid. But is it worth it?
One of the most common renovations is re-doing a bathroom or kitchen.
The first consideration to make is whether or not you can live without that room. Replacing cabinets and sinks moves pretty quickly, but a larger renovation may take weeks to complete. Do you have another acceptable bathroom to use? Can you live without a stove for an extended period?
When homeowners go this route, they typically make upgrades to their appliances and fixtures. This certainly improves a home, but will your current home support that high-end refrigerator? Will your current plumbing and electrical support that jacuzzi tub or are you getting into a more costly project? Is your home going to still maintain the character of your neighborhood?
When people want to spend $400-$500,000 for a house, they look in a $4-500,000 neighborhood. If you’ve spent a large chunk of money on a renovation, is your home going to be the only one in the neighborhood going for $600,000 or more?
When you remodel a kitchen or bath, expect to get around 40% of your investment back.
What about turning your garage into an office or hobby room?
Lots of people do lots of amazing things with garages, like create entertainment spaces, home gyms, and more, and are excited about this great expansion of living space. But how easy is it going to be for the next homeowner to park their car in there? This also holds true for converting interior rooms for another purpose. Turning that guest room into an amazing closet may be good for you, but not for a buyer that’s expecting to host guests.
When you choose to design and build a custom home, you’re meeting all of your needs on the front end. You know you want a proper chef’s kitchen. You know you want a luxurious soaking tub. You know you want a space dedicated to your hobby or a home workspace. So you design those spaces and conveniences into your custom home. You get to choose the latest in appliances and gadgets. You have your choice in energy efficient and sustainable building materials. Your dream home is personalized to your needs and your tastes.
Whether to renovate or start from scratch is up to you. We can help you decide.