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90% or more of todays buyers do not care about quality. They want square footage and features. When you pay the cost for quality construciton you wll nto recover that cost. You may be building a legacy house, or something to leave to your heirs, but for re-sale, don't bother with quality. If you cannto see it, most buyers will not pay for it.
Large lots are the same thing. While people like larger lots, some do not (more work), and they are less important than larger square footage and fancier interior finishes.
What you really need to ask yourself is whether you are building a home or engaging in an investment. Generally invetment advisors will tell you to just build the home you want. If you want to invest, there are better investments available. Having made about 500% in 9 years on our former home, I question that (did nto make 500% on our 401K funds over the same period of time). Of course the real estate invetment bubble has burst. Just like ostriches, junk bonds, and whatever else preceded real estate. Will it come back? No one knows. Ostriches didn't.
"If you can not see it, most buyers will not pay for it."
Funny you should say that. We thought the same thing and, therefore, have 100's of pics of all the things that will eventually be covered. We're making a photo album of the building process along with an explanation of why things were designed the way they were.
Maybe 90% of the potential home buyers won't appreciate how well we did it but we only need that one buyer who will. In 10-20 yrs. we'll see how it goes. But, to us, this is nothing about "investment"; it's about having the home we want: well built, functional, and with character.
90% or more of todays buyers do not care about quality. They want square footage and features. When you pay the cost for quality construciton you wll nto recover that cost. You may be building a legacy house, or something to leave to your heirs, but for re-sale, don't bother with quality. If you cannto see it, most buyers will not pay for it.
Large lots are the same thing. While people like larger lots, some do not (more work), and they are less important than larger square footage and fancier interior finishes.
What you really need to ask yourself is whether you are building a home or engaging in an investment. Generally invetment advisors will tell you to just build the home you want. If you want to invest, there are better investments available. Having made about 500% in 9 years on our former home, I question that (did nto make 500% on our 401K funds over the same period of time). Of course the real estate invetment bubble has burst. Just like ostriches, junk bonds, and whatever else preceded real estate. Will it come back? No one knows. Ostriches didn't.
Sadly i think this is pretty spot on. Alot of our friends have recently bought houses and I would classify them as large sqaure footage with crappy quality construction on too small of lots. It blows my mind because we got a house with 3x the amount of land with 20x the charachter and quality but for less money because the square footage was around 2k sq feet not 3k+ sq feet and the ceilings were average height not 10' high.
90% or more of todays buyers do not care about quality. They want square footage and features. When you pay the cost for quality construciton you wll nto recover that cost. You may be building a legacy house, or something to leave to your heirs, but for re-sale, don't bother with quality. If you cannto see it, most buyers will not pay for it.
Large lots are the same thing. While people like larger lots, some do not (more work), and they are less important than larger square footage and fancier interior finishes.
What you really need to ask yourself is whether you are building a home or engaging in an investment. Generally invetment advisors will tell you to just build the home you want. If you want to invest, there are better investments available. Having made about 500% in 9 years on our former home, I question that (did nto make 500% on our 401K funds over the same period of time). Of course the real estate invetment bubble has burst. Just like ostriches, junk bonds, and whatever else preceded real estate. Will it come back? No one knows. Ostriches didn't.
Do you think it might be that 90% of today's buyers can't identify quality construction? If one can't distinguish between good and bad construction then one focuses on something they do know...like desirable room sizes.
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Maybe 90% of the potential home buyers won't appreciate how well we did it but we only need that one buyer who will. In 10-20 yrs. we'll see how it goes. But, to us, this is nothing about "investment"; it's about having the home we want: well built, functional, and with character.
Hooray! THat makes me want to like you.
Few people will sacrifice square footage for quality. Fewer still will pay for something that will not add resale value (excpet a swimming pool. They add no value, yet people keep buying them).
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