When Creating Your Own Custom Home, Don't Worry About Resale Value
When talking to clients about how to design a custom home, I hear over and over again about resale value.
"I need to consider resale value."
"What about resale value?"
"Won't that impact the resale value?"
I'm here to tell you that if you are designing a custom home, you shouldn't make decisions during the design and planning process based on resale.
Let me tell you why.
Reason 1: Your Custom Home Should Be About You
When building a custom home, the focus should be on creating a living space that reflects your unique personality, lifestyle, budget, and preferences. The beauty of a custom home lies in the freedom to tailor every aspect of the design according to your needs and desires.
It allows you to incorporate specific features, designs, and layouts that align with your tastes and requirements.
Worrying about resale value may dilute the essence of the project and limit your creative expression.
Why go through the hassle of building a custom home if the decisions you make during the design process are influenced by someone else's preferences?
A Truly Custom Home Will Make You More Comfortable
Building your own home or a custom home is not just about investing in a property; it's about investing in your quality of life.
You can unlock the full potential of your living space and create a home that truly brings you joy and comfort every single day by putting your needs and preferences first, without worrying about future buyers.
The memories and experiences shared within your custom home will add sentimental value that cannot be measured. A home built with love and attention to detail will create lasting emotional connections, making it more than just a commodity for resale.
Reason 2: A Unique Home Might Increase the Value of the Home
Yes, focusing on unique elements might alienate some of the market out there. Your decisions might shrink the number of potential buyers.
That is what you often hear from real estate professionals.
But here's the thing you don’t hear: it will make the home more attractive to just the right buyers.
While there might be fewer of them, you could end up with a pool of buyers who feel strongly about owning your dream home.
A unique and well-built custom home could end up with a higher value when you decide to sell.
Reason 3: Markets & Tastes Change
If you are planning a custom home build that you plan to live in for 10+ years, how on earth are you going to predict market trends that far in the future?
In fact, you could end up negatively impacting the resale value by incorporating trendy elements just because they are trendy.
Will they still be trending in 15 years?
High-quality and good construction is always on trend. Focus on finding a reputable architect and custom home builders to guide you in creating a high-quality, well-built home if resale value is important to you.
Consider How Long You Will Be Living in Your Home
How long you plan to stay in your custom home will significantly impact the design choices you make and how much emphasis you place on resale value.
Planning 5 Years or Less?
If you plan on selling within five years or less, considering resale value becomes more relevant.
In this scenario, strike a balance between personal preferences and marketability by incorporating features that are likely to be popular among potential buyers while still reflecting your style.
One way to achieve this is by designing spaces that can easily be adapted or customized according to changing tastes—such as flexible room layouts.
Keep in mind that certain design elements may require more significant investments upfront but can pay off when it comes time to sell. For instance, installing energy-efficient windows or using high-quality materials like hardwood flooring might cost more initially but could increase property value down the line.
No matter what timeframe you have planned for residing in your custom home, it's crucial to make informed decisions that balance your needs and desires with the potential for future resale. Considering both long-term and short-term occupancy objectives, you can craft a dwelling that is optimal for your lifestyle as well as attractive to prospective purchasers when the time arrives.
Planning 5–15 Years?
If you plan on living in your custom-built home for a while, but not forever, focus on creating a home that meets your needs and desires without worrying too much about its future sale prospects.
Prioritize personal satisfaction over potential buyer appeal.
Planning More Than 15 Years?
If you don't have plans to leave for 15 years or if you move in, and you know you are in your forever home, then do what you want!
In this scenario, I recommend not thinking about resale value at all. You won't even be able to predict market trends 15+ years from now!
Follow Your Tastes During the Design and Building Process to Your Dream Home
Real estate agents will tell you that resale value always matters.
Consider this article your permission slip to throw that advice to the wind.
Custom homes are built for you. If this is a long term home, then there is no reason not to put yourself first.
If it isn't a long term home, then follow our tips for considering resale value during the custom home building process.
By following this advice, you can create a custom home that is not only a reflection of your personal style but also a smart investment.
Reach out to us today. Regardless of your goals when building a custom home, we can help you find the right balance.
