If you are buying a new home or even having a home built from the foundation up, you will end up having upgrade costs.
You will want to familiarize yourself with the average cost of upgrades in new construction or new homes.
If you need to know how much are upgrades when building a home, there are a few important things to consider.
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What Are The Average Upgrade Costs for New Homes?
The average cost of upgrades to a new home is around 10% of the home’s base price. Though it is important to keep in mind that this average is not accurate throughout the market.
Homes with a base price of $180,000 or less can average at 7.3%.
While homes with a base price over $300,000 averaged at 11.4% upgrade cost above the base price.
For more luxury upgrades, homeowners can expect to pay up to 20% to 30% of a home’s base price. This would include upgrades that are geared more towards comfort and less towards necessity.
This just shows how much this can vary every homeowner can expect to pay a different amount for upgrades to their new home. The average cost of new construction upgrades vary a lot and is different for everyone.
You will need to figure out how much upgrades cost on a new home in your area and with your home in mind. There are many things that can affect the overall price of the upgrades, changing how much you will ultimately pay.
So it is important to keep this in mind and not depend too much on the prices that you see online. These average upgrade costs will change when applied to your home, so they are not going to be entirely accurate.
Do Home Upgrades Vary by Location?
How much you spend on upgrades to a new home will not just depend on what upgrades you choose or the base price of your home. This price will also depend on where you are located as this can change the price, as well.
Homeowners are generally advised to plan on spending at least 12% of the base price of their home on upgrades on average. This is the minimum as this percentage can go up significantly depending on many factors.
The new construction upgrade price list is going to be different according to the state and city. Here are some examples of the average builder upgrade price list between 2005 and 2006:
- Milwaukee WI: $22,000
- Charlotte NC: $22,800
- Washington DC: $35,000
- Fort Meyers FL: $37,500
As you can see, the price varies dramatically, and these are still considered to be fairly minimal upgrade expenses. They can climb much higher depending on location, the size of the home, the people you hire, and the upgrades you choose.
You can go with very minimal upgrades and pay a few thousand dollars, or you can pay much more. It all depends on what you are wanting and what you are willing to spend.
If you are interested in spending the money to add upgrades to your new home, there are many places that can help you with this. Many businesses have extensive price lists to help you compare prices and find great deals.
The McBride Homes price list is just one reference that you can use to compare and decide on price points for your home upgrade budget.
What Are Common Home Upgrades?
If you want to know the new home upgrades price list, you probably need to first know what the most common upgrades are. These are the kinds of upgrades that are most commonly installed in new homes or homes that are being constructed.
Some of the important upgrades include flooring that is installed during the building process. Flooring is necessary, but it also gives you the opportunity to upgrade your home as well.
You can do this with carpet or, more commonly preferred, wood flooring. You will also need to add flooring to specialty areas of the home, such as the bathrooms and kitchen.
Other upgrades include tile work, heated floors, more lighting, AC, energy savers, and smart home technology. These are some of the more specialty upgrades that homeowners like to get for their new home.
It is important to keep in mind that any of these upgrades can very quickly add up. Some people spend as much as $190,000 on new home upgrades, while others can spend $85,000.
How much you spend will depend on your budget and the kind of home upgrades that you are wanting.
For something as simple as cabinet upgrades, you can expect to pay at least $3,950. Or around $3,000 to add AC to your home as a more necessary upgrade.
Are New Home Upgrades Worth It?
New home upgrades can be very worth it, depending on the ones that you choose. Some home upgrades are necessities, while others are just for comfort or appearances.
The kinds of upgrades that you go with can either make the house livable or upscale it to become more comfortable and valuable. Unnecessary upgrades are generally more expensive but can improve the value of your home.
If you ever decide to sell your home, it will be able to go for more because of the upgrades that you have added. So overall, many home upgrades do end up being worth the money in the long run.
Necessary upgrades such as padding for carpet, good lighting, roughed-in plumbing, and a customized kitchen are all great investments. These help your home to be more comfortable and nicer to live in.
Other luxury home upgrades such as tiles, heated flooring, smart appliances, and AC can also be great upgrades if you can afford them.
Overall, if you have the money to spend on home upgrades, you usually will not regret them. These will not only make your home a nicer place to be, but they will also improve your home’s resale value for the future.
What Are the Most Important New House Upgrades?
Besides the common luxury upgrades that many people add to their homes, there are also more important new home upgrades. These are the kinds of upgrades that pay for themselves and add value to your home.
If you have a tight budget, these are the kinds of things to look at instead of the more luxury style upgrades. There are certain upgrades that are more worthwhile and will give you more value over time.
These kinds of upgrades include energy savers, a large garage, better lighting, a deeper basement, wood flooring, and roughed-in plumbing. These are just a few of the more important new upgrades to consider.
Adding in air ventilation, a deck, padded carpet, bathroom tiles, and better kitchen storage are also great options. These all add value to your home and make it more comfortable to live in.
If you are uncertain about the kinds of upgrades you should go with for your new home, you can always console your contractor for advice. They are professionals and will be able to give you their opinion from experience.
Just remember to shop around for the best prices instead of going with the first upgrade option that you see.
How Much Do Upgrades Cost On New Homes?
Upgrades on a new house can cost as much as $190,000 or more, depending on the option that you go with. The more upgrades you do and the more luxury they are, the more expensive these upgrades will become.
Generally, the cost of upgrading a new house is 10% of the base price of the home for the most basic upgrades. Though this can climb up to 20% to 30% of your home’s base price depending on the kinds of upgrades you go with.
On average, a home that is $180,000 or less can have an average upgrade price of 7.3%. And this will only go up as the house’s base price goes up.
This can also vary quite a lot depending on city and state, as every area has different prices to offer. This can make it difficult to really give an accurate average price for any kind of new house upgrades.
You will need to figure out how much any upgrades will cost you depending on your home’s base price, its size, your location, the contractor, and the upgrades. These are all things that determine the overall price.
You will also want to figure out what your budget can handle so that you do not bite off more than you can chew. A good contractor can help you to do this by helping you with estimate upgrading prices for your home.
Just make sure you shop around for the best price available and do not make any hasty decisions.
Conclusion
Prices differ, and different upgrades are more important than others, which is why you will need to do your research.
This is not a decision you will want to jump into too quickly without first understanding all of the details. To find out the average cost of upgrades when building a home, keep reading for more information above.
