One of the most appealing aspects of purchasing a new luxury home is being able to customize its features. From energy-efficient technology to French doors, closet organization systems and flooring upgrades, Camelot’s new builds offer a variety of customization options for homeowners.
You might be wondering which renovations would pay off in the long run. Whether you currently own a Camelot home, or are looking to purchase a new or existing property in one of our luxury communities, here are three upgrades that will give you the most bang for your buck.
Small Updates with Big Returns
Some of the most lucrative home improvement investments require little money or effort. When it comes time to sell your home, these are the first things you’ll be looking at to get your home ready for showing. According to U.S. News & World Report, paint, backsplash updates and refreshed bathroom vanities can help sell your home. These minor changes are easy to do, and can be made as you get closer to resale. Items that improve curb appeal, such as a new entry door or neatened landscape, are also recommended.
When it comes time to choose kitchen features or upgrade your current kitchen, should you go big? That depends on why you’re upgrading. If you’re looking to improve form or function in your home, and plan to stay there for at least 5 years, focus on elements that work for your family – such as a pantry or dine-in granite counter. If you plan to sell soon and resale value is key, opt for a facelift rather than a full overhaul. Remodeling Magazine’s most recent annual Cost vs. Value Report found that minor kitchen remodels had an average of nearly 80% return on value, while major overhauls cost twice as much with only a 66% return. The bottom line? Buyers can upgrade for their family needs, while sellers may want to skip the total redo in favor of easier updates.
As the average lifespan increases, buyers are thinking about how their future looks in their current home. Established buyers will consider how adaptable their home is at any age. For example, do the bathrooms have safety rails and wide door openings? Is everything on one level, or can accommodations be made for stairs? This is an intriguing new category in the 2017 Cost vs. Value Report, and is worth considering in upscale areas of Phoenix, Scottsdale and Paradise Valley that are attractive to retirees. It may not be something that you think about now, but if mom moves in and you make universal design changes, you know you’ll get something back later when you sell. Many of these updates are also “evergreen,” which means they will need little to no changes after they are installed.
If you’re looking to sell your home or select design features that will stand the test of time, the Cost vs. Value Report is a great place to start. While luxury homeowners may have resale value in mind, remember that design trends can change at any time. Ultimately, your home should be the perfect place for you and your family right now, so if you want to add trendy barn doors or Smart tech, go for it! For information on new home customization and upgrades to your Camelot home, contact us today.