Buying A New Construction Home subdivision In Toronto; What Are The Best Floor Plan And Upgrade Options In Subdivision? PART 6
What are the most common cosmetic upgrade options people choose in the new construction subdivision? At this stage of your purchase, you are ready to have a closer look at the floor plan and cosmetic options for your new home.
You'll likely find it joyful touring a model home and going through the options, like the choice of flooring, granite, colours, carpet. You'll be paying for it; you might as well have fun. These are the decision that you might what to have the whole family contribute.
A word of caution, some of the upgrades can be expensive. You'll be tempted, but always keep in mind your budget. The onsite real estate agents are working for builders, and their job is to promote as many updates as possible. Your real estate agents are less prone to emotion; make sure they are with you during the selection. I suggest making a list of items starting with the one you cannot live without and prioritize.
How do I choose my floor plan? Here are a few questions to consider before picking the floor plan for your new home. For starters, how long will you be living in your new house? What is the long term for you, five years, ten years? What kind of lifestyle you have and will you be having in future?
If you plan to stay in your new place for five years or more, your new house must accommodate your needs now and then. You may have a plan to have a baby, meaning you may need an extra bedroom. You may be planning to work from home, part-time or full time in future. A home office will be a practical option to have. It comes down to compromise; you should think of the current needs and the needs down the road. The choice of the floor plan is essential because making construction changes are expensive and inconvenient later on.
New Construction options and upgrades, which one should I choose? The list of options for upgrades is extensive. As you can imagine, the cost can quickly add up as well. Some upgrades are worth considering, and others not for the reasons we will discuss later. Let's look at the list of upgrades that you should consider.
You need to plan ahead of time for the roughed-in plumbing, roughed-in electrical, and lower basement upgrades since they are considered construction upgrades and must be done before the finishing phase.
Roughed-in plumbing. If you have in mind an additional bathroom, kitchen, drains in your new house, plan to have the roughed-in plumbing done during the construction. Because cutting concrete floor or removing drywall is nigher easy nor cheap.
Roughed-in Electrical. You will also save a lot of money if you get the wiring done for the extra pot lights, additional appliances, in-wall speakers, and more power outlets if the wiring is done during the construction.
Lower basement. The lowering basement is an expensive upgrade. However, if you believe you'll use your basement space, it is well worth the cost. Your basement, with a generous ceiling height, will feel like an essential part of your home. It'll most likely be a good return on investment when it comes time to sell the house.
Kitchen upgrade. Kitchen upgrades are popular and satisfying home upgrades. Your kitchen will be more practical, appealing, and a focal point for members of your family. Most real estate agents will agree that the kitchen upgrades will increase your home value. But, keep in mind that the upgrade cost should be proportional to your home's price to maximize the repay when it comes to selling your house. The kitchen upgrades may cost $20,000 to $50,000 or more. Hence it is advised to spend as much as you need to avoid going over your budget and over-capitalizing.
Flooring. Flooring upgrade is also a popular upgrade in new construction. It not as costly as the kitchen upgrade; you are looking at $15,000 - $25,000 or more. The industry experts recommend flooring upgrade since it ranks high in upgrades that increase resale value.
The seamless beauty of hardwood flooring throughout the house provides a sense of homeownership pride. It also makes the house looks larger and a luxurious feeling.
For two main reasons, we suggest kitchen, flooring, and master bedroom upgrades during the construction. First, these upgrades are big-ticket items, and it makes sense to include them with your mortgage. Ensure you are in communication with your mortgage broker so your home's total price stays within the pre-approved requirement for your mortgage. Second, some upgrades can prove to be messy and inconvenient to do after you move in.
Master bathroom tile work. Next to the kitchen and flooring upgrade is the master bathroom upgrade that would give you the real sense of homeownership pride. Extra large-format tiles on the floor, bright colour tiles on the wall are some of the popular upgrades. In many years that I have accompanied home buyers, I have always noticed the buyers' anticipation and excitement as we walk into the master bathroom. I take this to indicate the importance of the master bathroom upgrade when selling your home in the future.
The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: email@example.com or by phone: 416.990.2424