Design with resale in mind. I’ve heard it repeatedly and I must disagree. There is an exception to my opinion, that being if you plan on selling soon (next 2-3 years). Even then, I find it a bit presumptuous to assume you know what the next owner will like or assume they won’t like what you do. The reality is you may make alterations thinking it’s what is needed for resale and the next owner is going to rip it out and redo it anyways. A favorite example of this stems from seeing firsthand what people choose to change about their homes. It is a common request to remove the once so popular jetted tubs from the primary bath, often to increase shower size, because the tubs rarely, if ever, get used. Yet, it is equally common that we hear from clients that they must keep a tub, because of resale. See the contradiction? You may keep the tub you don’t want, because you think it’s needed for resale, but the potential buyer may be turned off by the fact you have a tub and a smaller shower. The current trend seems to be for a free-standing soaking tub, but who’s to say that is going to be popular in 5 years, or that the person considering buying your home is going to like it, even if it is popular.
There really is no right answer, but I’ve long held the opinion that production home builders should consult with local remodelers to see what the current local market really wants. There seems to be the belief that people buy something because they want it, but if they don’t have other options, what choice do they have? It’s a false sense of validation. If skim milk was all that was available, I’d buy it, but I’d really prefer something with a little more fat in it. Maybe I shouldn’t say anything, since our business is really based off people wanting to change what they don’t like about their current home.
So, what to do? There are always exceptions to rules, for example it may not be wise to “overbuild” for your neighborhood if you plan on moving soon, but in general, I personally wouldn’t worry about resale value or at least remove it from the top of my priorities. Instead concentrate on the unique wants and needs for you and your family and invest in fulfilling these. This is going to give you more enjoyment while you live there, which to me seems more important than worrying about what some stranger may or may not enjoy 10 or 15 years down the road.
To share a couple of personal anecdotes; When Stephanie and I purchased our home 25 years ago, we only planned to stay in it 2 or 3 years. Five tops. Yet here we are still in the same home. What good would it have done us to make decisions 25 years ago based on resale in a few years? There is very little we could have done to the home that we wouldn’t have recouped in home value appreciation at this point. At this point, we don’t currently plan on moving for another 10-15 years. It seems like we always have a project or 2 always going on at the house. Not once have we discussed the implications of resale value. It’s our home, we live in it every day, and we want to make it work the best for us. End of story. If the next person doesn’t like it, they can change it and it won’t hurt my feelings.
No one, including myself, can tell you what the best choice is with regards to what to do with your home or how to spend your money or what will give you the biggest financial return on your investment. I just want to make the case that nobody knows what the future holds, so perhaps consider living in the now and do whatever brings you and your family the most enjoyment while you are there.