One of the most frequent questions we hear from homeowners is, “Am I overbuilding for my neighborhood?” That’s a great question! To answer that, we need to talk first about why overbuilding for your neighborhood is such a bad idea.
When you’re building or remodeling your home it may seem like a good idea to add a heated inground pool and fifth floor terrace, but you should think twice before you hire a construction crew. Simply put, you don’t want to overbuild because you will end up with more house than you can sell if you ever decide to leave. You’re much better off building to match the other homes in the neighborhood or considering another area if you want a larger home with more amenities.
Sure signs that you are overbuilding for your neighborhood:
1. Your home has double the amount of bathrooms as anyone else’s in the neighborhood.
2. You wiped out your backyard entirely so you could fit in an inground pool or build an additional room.
3. Your home is considerably larger than any others in the neighborhood.
Steps to take to avoid overbuilding for your neighborhood:
1. If you are outgrowing your home, consider looking for a new larger home in a different neighborhood instead of adding on to your current home.
2. Do some research on what homes are currently selling for in your neighborhood. If your plans to build exceed the normal selling range in the neighborhood, consider building elsewhere.
3. Talk to a realtor to get advice on what type of home is reasonable for the neighborhood you’re looking to build in.
Have you ever wondered if you are overbuilding for your neighborhood? Let us help you find out! Contact us anytime for advice on this topic or any other.