To keep up with the competition, builders are including features that, at one time, were considered upgrades
By Hugh Heron – New Dream Homes and Condos
Now is one of the best times ever for buying a new home, and standard features have a lot to do with that.
Since I started in the new home building industry 40 years ago, I’ve seen enormous changes in design and construction quality. Today’s educated shoppers demand a lot for their hard-earned dollar. To keep up with competition in our strong housing market, builders include features that, at one time, were considered upgrades, which add to the value of a home.
New home features and finishes are so terrific today, that many buyers feel they don’t need upgrades. Just look at the ensuite bath. We’re seeing oval tubs, glass showers, ceramic floors, marble counters and more.
In 1967, my first exposure to an ensuite bath was a wall-hung basin off the master bedroom.
During the colour selection appointment, buyers have literally thousands of choices available, and professional design consultants guide them through the process.
We advise purchasers to do their homework before they come into Heathwood’s Décor Store. Some consult professional decorators, some bring in magazine pictures of rooms, and others get ideas from home decorating shows on TV.
Having said that, there is still a demand for upgrades. It may be a case of added comfort or aesthetics, or perhaps owners feel upgrades will add to the resale value of their home. The important thing is to look at these extras within the big picture. Purchasers sometimes find the prices of upgrades surprising, and we hear that they can buy a similar item at a big box store for far less.
For Heathwood and other builders, buying the item is only the beginning. We also have to pay to install it, cover structural defects by warranty up to seven years, and for the administration to do all of the above.
In the big picture, upgrades purchased at the point of sale can be far less expensive than adding them years down the road. Take hardwood flooring. We’ve had purchasers measure the square footage, price the wood at a major retailer, then come to us saying they can install the flooring for less. When we ask whether they’ve considered things such as nosings that create the transition from the hardwood to other flooring, plus waste, they usually respond they haven’t.
Then we ask whether they’re prepared to face installation challenges such as problems with the height of the baseboards or the bottom stair, and the light bulb goes on. Homeowners recognize they can save money, time and disruption of their lives if they have upgrades installed by the builder. The ability to mortgage the cost of upgraded finishes can be appealing as well.
When it comes to choosing, keep the big picture in mind. Ask the design consultant for advice and think realistically about your vision for your home now and in the future. As the saying goes, you get what you pay for.
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Contact the Jeffrey Team for more information - 416-388-1960
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