The market is saturated with 3BR, 2.5BA homes but my only non-negotiable is a bigger, flat lot which we’ve already got. Grew up with a big yard and hitting golf balls and baseballs around the yard is something I want for my kids. Could not believe some .25 acre lots are going for $60-80k+.
My original post was about nixing different things, not skimping on quality of the construction. Already ruled out the 3rd stall for the garage, fireplaces, hardwoods, basement kitchenette, and various things like that. We can finish the basement down the road if need be also and tackle the landscaping. What other things quickly add up besides appliances, sub-contracted work, and the landscaping?
We’ve already renovated our first home from top to bottom and we enjoyed the process and learned some things along the way.
Here is what I see from appraising houses. Things that don't pay for themselves in resales I see.
Solid countertops: as long as you don't go very cheap, the nicer formica countertops will be fine. Unless you have a VERY well put together home, the granite, corian, and even quartz countertops don't return the extra you paid for them.
Cabinets: don't go cheap, but most people don't pay extra money for soft close drawers or full oak cabinets. Get good middle line cabinets that are more timeless. When you go to sell, spend a couple hundred dollars on hardware and people will think you upgraded the cabinets (no joke).
Baths: Have a master bath (a master walk in closet also, people really want them). DO NOT get the stupidest thing everyone always gets and then after a couple years tears it out or when we ask them how often they used it, they say a couple times. That is the king of waste, a jacuzzi or jetted tub. Waste waste waste.
Kitchens and baths are what sell a home on the inside.
Siding: Don't go cheap. If you think you may sell it, find a good quality and grade siding and do some stone or brick work to offset it. It makes it pop. Also spend money on shingles.
Don't finish your whole basement, 1-2 bedrooms and a bath for them will suffice and most want either guest space, office space, or bedrooms for extra kids.
A third garage space may pay for itself, I would make that the last thing I would cut.
Flooring: Avoid true hardwoods, people dont want the upkeep. The current rage is vinyl designer planks. We had vinyl and they laid the plank right on top (with a padding between) so it gives options for what you want later on. Go a neutral carpet, the wall painting (easiest spot to save money to do yourself) is easy to change and people almost always replace carpet when they move in.
A couple things I've seen that do and don't pay for themselves.