It's never a bad idea to incorporate attractive design elements that set your new home apart from the competition, but what about the construction upgrades that truly enhance the value of the finished product?
When embarking on the construction of a residential investment property from the ground up, real estate investors are always on the lookout for emerging market trends that will pique the interest of potential homebuyers. However, there are fundamental features that consistently translate into a higher selling price. Here are five such essentials that should be considered indispensable for any new construction endeavor:
Five New Construction Upgrades That Boost Value
Expansive Kitchen Island and Abundant Counter Space
Topping the list of value-enhancing construction upgrades is the kitchen, and for good reason. A scarcity of counter space in a brand-new kitchen can deter potential buyers. While countertop material preferences may evolve over time, the need for ample counter space remains non-negotiable. Ensure your kitchen floor plan offers a generous expanse of countertops and a spacious island with additional seating – a recipe for success in any kitchen design.
Luxurious Master en Suite Bathroom
If necessary, allocate a bit of square footage from the master bedroom for this, but don't overlook the importance of providing homebuyers with a lavish master en suite bathroom. A sizable master bathroom featuring a walk-in shower and a soaking tub nestled in a spa-like setting will always be in vogue.
Walk-in Closet with Premium Shelving Package
Why include an oversized master closet in your bedroom design if it merely echoes emptiness to potential buyers? With a relatively modest impact on the overall budget, you can leave a lasting impression here. Transform the master closet into a "wow" factor by incorporating an impressive shelving package, solidifying its status as a "must-have" in the eyes of buyers and positioning your property favorably in the local market.
When prospective homebuyers step into your newly constructed home, they should be immediately captivated by the floors – a feature second only to the kitchen in importance. Fortunately, creating a luxurious flooring aesthetic need not break the bank. A plethora of affordable, high-quality, and visually stunning flooring options are readily available, ensuring your property leaves a lasting impression without straining your construction budget.
Upgraded Base and Crown Molding
While this upgrade can significantly elevate your budget when selecting top-tier materials, it's not always necessary to opt for the very best unless your property is situated in a market that demands it. Durable MDF moldings, for instance, offer remarkable style at an affordable price point. The architectural impact of upgraded base and crown molding cannot be overstated – it signifies meticulous attention to detail and never fails to elicit a "wow" reaction from potential homebuyers.
Explore our recent blog article discussing new construction hard money loans for non-owner occupied investment properties.