Value Versus Price Part 2 - Beware of Lemons Disguised as Apples

September 1, 2011

In Value Versus Price Part 1 - The Neighborhood Beyond the Bling we discussed outside attributes that contribute to the value of a home. But besides these intangible points, there is also hidden value inside your home, not easily apparent to the naked eye. Yes you can see the beautiful granite, hardwood or stainless steel appliances - The bling, but so much more goes unseen yet adds far more value to the home. Most of the unseen value is located in the bones of your home. Green materials - These more modern materials, while not always the cheapest, add to the life of your home and the energy efficiency. In the long run you are contributing to leaving a lighter footprint, as well as reaping the benefits of long term energy savings, and in many cases these materials have a longer life. Modern floor plans - Current homes are designed with modern needs in mind including better closet space and storage, larger pantries, workspaces, better flow to kitchens for ease of use and entertaining, as well as overall flow for activities and family interactions. Older floor plans can feel choppy, have lower ceilings, less light and space. Meeting the most current codes - New homes adhere to the most current standards for electrical, plumbing, and safety. In the long run you will have better insulation, wiring that fits with the needs of your electronic life style, and you will have all the modern comforts that keep you safe and up to date. Warranties - Each new home comes with a value added warranty on structural and mechanical elements of your home, and because everything is new there are a variety of warranties with your appliances and equipment as well that come directly from the manufacturer. Home Owners Associations - This is a guarantee that your home and your neighbors' homes will be kept to a level of standard that will not deteriorate over time. You will not see unkempt lawns, rust encrusted vehicles, or overflowing garbage cans that sit for days. There are many benefits to the requirements of upkeep a home owners association provides for a neighborhood for long term enjoyment and value of your property. As you can see there is much value that can be found both inside the home, and outside the home that contribute to the making of the price. When comparing homes only by their price make sure you are comparing apples to apples, not apples to lemons. Image source: ©
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