When you’re preparing to build a new home, the last thing on your mind is resale value. After all, you haven’t even moved in yet, so why would you contemplate all that it would take to sell? But questioning resale value is one of the cornerstones to figuring out which features in a luxury house actually matter, and which are just nice to have. If you’re wondering whether those extra features are really worth it, we’re here to help you decide. The following are some of the most important features for a luxury home.
Location, Location, Location
You may have heard a real estate agent or two tout the importance of location in regards to homes for sale — they’re not wrong. The location of the home will play a major role in how well or poorly a home retains its value over the years. In the real estate world, however, location doesn’t just refer to the physical space a home occupies. Yes, the plot of land is important, but so are the neighborhood, schools, and other local amenities. Consider how much space a home offers, but also take a look at how quiet the neighborhood is as a whole. When looking for luxury homes in particular, most buyers don’t want to see super-bustling streets crammed full of cars. However, future buyers will want things like restaurants and shopping within easy access of the neighborhood. It’s all about finding the fine balance between isolation and too much bustle. The location of a home really does matter, especially when it comes to luxury homes for sale.
The home’s layout is one of those things that every buyer is going to pay attention to. At the luxury home level in particular, the floorplan should lend itself well to everyday living as well as entertaining. Look for touches like a mudroom to keep shoes and coats neatly organized as well as some more basic options, such as having at least one bathroom for guests to use without trekking through bedrooms. Also, consider how the home flows. Does the living area lend itself well to relaxing at the end of the day? Are there spaces for the basic needs of daily life?
In addition to those basics, consider things like how the home will handle a bevy of guests. We’re not necessarily talking about having a wine fridge in the kitchen island, though those upgrades don’t hurt. Before you get that detailed, however, consider things like where guests will gather. Is there room in the kitchen for people to mill about and snack? Will a poorly-placed wall split the party in two? Open floor plans and spacious kitchens are great selling points for entertainment just as much as they are for daily life. Before you consider all the extras and upgrades, focus on overall function first — because, well, who needs two pools if the home isn’t functional?
When it comes to the upgrades available in luxury homes, there’s a pretty huge range. It can be understandably tricky to choose which upgrades you ought to say yes to and which ones you should opt out of. Some of the upgrades will make life more enjoyable when you’re living in the house, but may not necessarily add a huge amount of value when it’s time to sell. So this is when things get a bit trickier when it comes to choosing what to include in your luxury home and what isn’t worthwhile. In order to help you decide, there are a few options available to you.
First, think about how long you plan to live in the home. If you know you’ll be moving away again in a few years, you’ll want to be more concerned with resale value — or what it will take to turn the home into a rental. If you intend to be in that home for decades to come, it’s going to be more worthwhile to choose the out-of-the-ordinary upgrades. Live it up and have that in-home ice rink if you know you’ll get plenty of use from it.
In addition to use, also consider what will age well. If you’ve lived in the home for a while, you’ll likely need to do some basic upgrades before selling anyway. However, as a general rule, things like upgraded plumbing fixtures, better-than-standard trim, and eco-friendly appliances are going to give you more value in the long-run than you’ll get from including bigger upgrades like a pool. They may seem like smaller details, but luxury details like mullioned windows go a long way toward saying “luxury” in a way trendier upgrades can’t. This is why we at CarrHomes luxury home builders include 22 luxury differences in every home we build.