What gets people excited about building a new home? I’m pretty sure that it’s the surface stuff—the glossy finishes, glitzy details, and enviable luxuries—and not the basics that gets their hearts beating faster.
We all want—no, expect—plenty of hot water to flow from the tap, the HVAC system to pump out a comfortable temperature no matter the season, and a foundation and roof that will withstand whatever nature can throw at them. Though they are vital to our comfort, health, and even survival, the basics don’t motivate us to sign up for jumbo mortgages. But granite countertops do.
And so do a lot of other highly coveted goodies, like jetted shower towers, Japanese-style soaking tubs, furniture-grade kitchen islands, and refrigerators that do nothing more than keep the wine collection perfectly chilled. The number of items designed to capture our imaginations and our disposable incomes grows larger every year.
Sure, a lucky few can easily handle every expensive whim. But even in the rarified demographics of the custom market, the vast majority of home buyers have to work within budgets that won’t accommodate every one of their desires. So how do you bring buyers down to earth without throwing a wet blanket on their dreams? That’s an important question to think about because happy, enthusiastic buyers who have enjoyed the building process are a big asset both during construction and long afterward.
I’d be interested in hearing how you help your buyers match their dreams to reality. I offer two suggestions to spur your thoughts.
Keep current on new product offerings. Less-expensive versions of high-fashion items always come to market when demand heats up. I postponed the remodeling of my own kitchen a few years ago because laminate was the only countertop material that would fit my budget. When the contractor’s designer called me several months later to tell me an engineered stone product was on the market at a price I could afford, I was ready to go ahead with the work.
Suggest a trade off. Sometimes clients are willing to trade square footage for quality details and materials. I’ve heard from a number of custom builders that clients have gotten more conservative about cost in the last few years, but still insist on high-quality finishes and appointments. To get what they want, some buyers will accept a smaller house.
The appeal may be skin deep, but I don’t really think these buyers are making shallow choices by demanding finishes that are pleasing to the eye and touch and amenities that make being in their home a satisfying pleasure. That’s part of the function of a good house, and it’s as important as the basics.
