Transition from Renting to Homeownership: A Journey to Your New Home
When you buy a new construction home, you’re not just paying someone to build four walls and a roof—you’re investing in a space that can be personalized to fit your lifestyle, needs, and taste. One of the perks of building from the ground up is the opportunity to select various upgrades, both structural and design, that add value and character to your home!
In this guide, we’ll walk through the kinds of upgrades/options that can not only enhance your living experience but also increase the resale value of your home in the future. From choosing additional square footage to selecting modern finishes, we'll explain the difference between base price and final sale price and how these upgrades fit into the equation.
Base Price vs. Purchase Price: What’s the Difference?
Before diving into the available upgrades, it’s important to understand how the base price of a new construction home differs from the final sale price.
Base price: The base price is essentially the starting price of the home, which typically includes the standard features offered by a builder like M/I Homes. These may include the home plan’s standard square footage, standard finishes, and a few set design elements.
The base price gives buyers an idea of what’s available at a certain price point; however, this price doesn’t account for any upgrades or customizations.
Purchase price: What you end up paying after selecting structural and design upgrades. This is where the home becomes truly yours, as you personalize it to your taste and needs. Structural changes, additional square footage, premium materials, or enhanced technology features will all contribute to the final number.
So, while the base price might look appealing, be prepared for the final sale price to reflect the upgrades and enhancements you choose.
What Are Structural Upgrades/Options?
Structural upgrades refer to changes or additions that alter the physical layout and architecture of your home. These upgrades often increase the square footage or change the overall flow and function of your space.
They tend to have a significant impact on your home’s resale value, making them one of the most valuable types of new construction upgrades.
Here are some common structural options that can add lasting value to your home:
1. Additional Bedrooms, Bathrooms, Morning Rooms, and Extended Living Spaces
One of the most impactful structural upgrades is adding extra space to your home. Whether it's a larger family room, an extended kitchen, adding an additional bedroom, opting for a second-story bonus room, or selecting a morning room addition near your kitchen, more square footage typically means more value.
Future buyers are often willing to pay more for homes with additional living areas, especially if they include functional spaces like extra bedrooms or bathrooms. Plus, you’ll reap the benefits of added spaces for hosting, entertaining, and enjoying your brand-new home!
2. Upgraded Kitchens and Bathrooms
Another valuable structural upgrade is expanding or upgrading the kitchen and bathrooms. These are the most-used spaces in the home and, as such, are key to improving both your daily living experience and future resale prospects. An expanded kitchen with added cabinetry, an oversized island, or an upgraded pantry can make a home feel more luxurious.
In the bathroom, features like double vanities, oversized showers, or even a soaking tub can transform the space into a relaxing retreat. While these upgrades may come at a higher cost, they provide excellent returns when it’s time to sell. And, you’ll get to have your dream kitchen or bathroom, too! It’s a win-win.
3. Additional Rooms or Flex Spaces
Adding a flex space—like a home office, game room, or guest suite—can be a strategic move, especially in today’s world where many people work from home. These multi-functional rooms provide versatility, accommodating changing needs without you and your family needing to move or remodel your home.
4. Enhanced Outdoor Spaces
A structurally enhanced outdoor space can be another great investment. Options like screened porches, outdoor kitchens, extended patios, or even a backyard pool (in Florida) are desirable features for homeowners and future buyers alike. People are increasingly looking for homes that provide not only indoor comfort but also outdoor entertaining and relaxation areas.
What Are Design Upgrades/Options?
Design upgrades/options, on the other hand, focus on the aesthetic and stylistic choices that personalize your home. While structural changes can be more about functionality and layout, design upgrades allow you to showcase your unique style and home color palette. Though they may not always add as much resale value as structural options, they still play a significant role in creating a home that feels tailored to you.
pro tip
If you build from the ground up with us, you’ll get to take a visit to the M/I Homes Design Studio to pick out the design options in your new home!
Here are a few design options to consider:
1. Upgraded Flooring
Swapping out standard carpeting for hardwood floors, luxury vinyl plank (LVP) flooring, or upgraded tile is one of the most popular design upgrades. Not only does this give the home a more modern and polished look, but it also tends to appeal to future buyers who value durability and easy maintenance.
2. Cabinetry and Countertops
The kitchen is often referred to as the heart of the home, so investing in custom cabinetry or high-end countertops can be a smart move. Quartz or granite countertops, along with soft-close, custom cabinets, can transform a standard kitchen into a showpiece.
3. Lighting Fixtures and Hardware
Although lighting and hardware might seem like minor details, they can have a big impact on the overall ambiance of your home. Opting for statement lighting in the dining room or kitchen, or upgrading to modern, sleek door handles and faucets, can elevate the look of your home without breaking the bank.
4. Smart Home Technology
Many buyers today are looking for homes that integrate smart home technology. Upgrading your home with smart thermostats, security systems, or even automated lighting can set your home apart from others on the market. These features add convenience and appeal to tech-savvy buyers when it comes time to sell.
Balancing Cost and Value
It’s easy to get carried away with upgrades, but it’s important to strike a balance between what you want and what will truly add value to your home. Not every upgrade will yield a high return on investment, so prioritize wisely.
For instance, while design options like custom backsplashes or designer paint colors are fun and unique, they may not add much in terms of resale value. Structural upgrades, on the other hand, tend to offer more bang for your buck, especially if they include adding square footage or expanding essential areas like the kitchen or bathroom.
Making Your New Home Truly Yours
Upgrading your new construction home is an exciting process that allows you to personalize everything from the floorplan layout to the special finishes. While the base price gives you an idea of what’s available, the final purchase price reflects all the personal touches that make your home unique. Structural upgrades add long-term value and functionality, while design options infuse the home with your personality and style.
By choosing the right combination of both, you not only create a space that you love but also invest in a home with lasting value. When done thoughtfully, these upgrades can make your new construction home the perfect place for years to come—both for living and for selling.
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