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You’re Going to Live Here How Long?

This week’s excerpt from, Right From the Start: Insights Into Building and Remodeling Your Custom Home, discusses the importance of considering your future needs when planning to build or remodel your custom home. When designing your custom home, first address your immediate needs. Second, consider the market conditions. And finally, reflect on how long you will be living in your home. There’s no sense in putting a large amount of money into home that won’t fit your needs a few years down the line. Read below to learn more and be sure to check back next week for more insights!

Part 1: Before You Build

Chapter 15: You’re Going to Live Here How Long?

If you ask someone who is ready to build or remodel a home, they will often tell you, “This is the last home I will ever live in. They will have to bury me in the backyard.”

Recent surveys show that most people live in their home an average of five years, and you’re probably not much different. You may be thinking, but this really is going to be my last home. And if it is, that’s great. But you may want to consider the reality of averages.

Mary took more than a year to design her new home for her family, only to discover she was way over budget. She also realized that by the time she completed her home construction, all but one of her five children would be away at college, and she had designed bedrooms for each of them! Reality finally dawned on her—within a few short years, she and her husband would be empty nesters. Designing her home for a family of seven thinking this would be her home for the rest of her life didn’t fit the reality of Mary’s imminent transition to a home for two.

When designing your custom home, first design for your immediate needs. Second, take into account what market conditions will allow for your particular home design. Third, give strong consideration to how long you may live in your home. Mary may shift gears and design a home that’s perfect for her family’s needs for the next five to seven years, with a plan to downsize at that time. With this more realistic outlook, she may give additional consideration to the resale value of her choices.

Don’t make the mistake of over-designing a home that may become obsolete for your family within a short period of time.

Bottom Line

Be realistic about your short-term and long-term needs and how long you will live in your home, and design accordingly.

Hours

Monday8:00AM - 4:30PM
Tuesday8:00AM - 4:30PM
Wednesday8:00AM - 4:30PM
Thursday8:00AM - 4:30PM
Friday8:00AM - 4:30PM
SaturdayCLOSED
SundayCLOSED

CONTACT US

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Bob Michels Construction, Inc.

5959 Centerville Road,

Suite 250B,

North Oaks, MN 55127

Phone. 651-653-1210

Email. info@bmichels-const.com