Posted on Jan 6, 2017
It’s a question we are almost invariably asked. It goes something like this: “We don’t foresee ever selling this home but if we decide to we want to make sure we are building it to be marketable. Is there something we should be doing that we are not. Is there something we are doing that we shouldn’t?”
To create a home that is marketable on the high end isn’t difficult but does take experience. You want to understand the family that would consider the home, you also want to think about how tastes may change over time. There is a formula that we have followed and our clients have been very successful with. If you track the homes that we have built which have gone up for resale you’ll find that they beat the market, significantly in most cases. The same goes for the homes we’ve built on speculation, theres a formula that just works.
Purchasing a desirable piece of land is important, not just in terms of the property itself but the location, the desirability of the area and the appeal of the neighboring properties on the street. This takes some local knowledge but it also takes some experience. When we seek out properties for our own company we seek out properties which are special in one way or another. Recently we purchased a single parcel of land on Bird Key, we divided it into two lots because a single canal front property on Bird Key had never sold for the price we needed to get for it. The property was special because it looked directly down the canal rather than across a narrow canal at another property, Bird Key has been very sought after for a long time now and these things combined with the price we were able to get it for made it a winning situation.
Design is critical though, and in the scheme of things equal to if not more so than location. I know this is counter to the commonly held belief but hear me out. I keep pretty close tabs on the real estate market here. Location is of little consequence if you choose poor design. Good design will always have a tough fight against a poor location. The synergy of a great design in a great location pays off not just when you go to sell but in the general enjoyment of your home.
So, design is important, we get it. Well choosing the right design style and engaging the right architect is critical as well. When you look at the local design landscape Modern seems to be very popular right now, its written about in magazines, blogs and the newspaper. There are groups that gather to tour these homes in season. Clearly these are great homes to build because they are desired right? Modern is a trend right now, trendy styles can be tied to a time just by there appearance, because of this they “age”. You’ve seen them before, the modern homes that were built in the 80’s and 90’s, they look tired and you can tell right away they weren’t built yesterday or even ten years ago for that matter, they have the obscured glass block used as an architectural element and the thick radius ended railings. These homes are exceedingly difficult to sell these days and are certainly not sought after. This is the problem with trendy construction, the use of certain materials and designs that tie a home to a certain decade. I don’t want to seem like I am bashing modern architecture, done right, just like any other architectural style, it can be timeless, we’ve certainly built our share of them and are exceedingly proud of our work. I could have used the mediterranean style to make a similar case, done right its incredible, done wrong its not too long until it looks dated.
For resale, especially if its a long way off design needs to be timeless and I cannot stress enough the value of a talented architect. There are things that can be done to create a home that makes it easier for a future buyer to decide on. We’ve made accommodations for future elevators in homes where the owners had no intention of ever having one. We’ve made homes handicapped compliant. We’ve built 3 bedroom homes for clients who never planned on having guests stay the night. The idea is to envision the potential future buyer. They probably aren’t that different from you but perhaps you may want to add another bay in their garage for what may be their car collection, the extra space isn’t going to hurt you! And definitely research and hire a great architect. The people who are putting it all together have to be great too so make sure to give us a call!