Building on a Budget
When you’ve got a prospective client who is in the market for a new house, here are some ways you can help them cut costs to keep their budget:
Divide and Conquer
Buy a bigger lot and split it. Some property owners may have more than an acre to sell, but they don’t want to break it into pieces. Depending on the area, you may be able to buy the property, split it, build two houses on it and provide a savings to both new home owners.
Buy property that’s on a canal instead of a full waterfront. Water-accessible property usually appreciates in every economy, and it’s less likely to be affected by water-driven storms. It’s also less expensive.
Make it Last
Splurge on items that directly impact resale value. Maintenance-free items such as vinyl siding and metal roofing can provide excellent returns on your investment. Both can last well over 20 years and require minimal care beyond occasional power washing and gutter cleanouts.
Wood floors are always in demand, but their expense can be out of reach for the budget conscious. Reclaimed wood is an excellent choice, and can add warmth and charm to any room. Even if the wood wasn’t used for flooring, you can have the wood milled to a tongue-and-groove specification for a nominal fee. Even with this additional charge, most reclaimed wood is still a great resource for hardwood floors at a fraction of the cost.
Superior insulation and energy efficient appliances will help home owners save for years to come. Look for the Energy Star label on all of your appliances for the best efficiency ratings. High-quality insulation will help keep heating and cooling bills low all year ‘round.
Add a garage, if the property is spacious enough. Most homeowners want a garage, especially in areas where the weather is very hot or can get very cold. If the property isn’t large enough to accommodate a garage, add a small out-building such as a shed. That way, there’s a place for yard maintenance items, toys and recreation equipment.
Built-in storage in basements, attics, bedrooms and hallways can add a lot of value to a home without breaking the bank. For example, simple shelving in closets and built-in bookshelves next to a fireplace can be an easy and inexpensive wow factor.
Building on a budget can meet and exceed the needs of a new home buyer if you know where and how to splurge.